Swiss National Bank Grows Position in Amgen Inc. (NASDAQ:AMGN)

Swiss National Bank raised its position in Amgen Inc. (NASDAQ:AMGN) by 0.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,592,233 shares of the medical research company’s stock after purchasing an additional 5,500 shares during the quarter. Swiss National Bank’s holdings in Amgen were worth $513,033,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of AMGN. Keynote Financial Services LLC raised its stake in shares of Amgen by 0.6% in the 2nd quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock worth $1,530,000 after buying an additional 30 shares in the last quarter. Ascent Group LLC raised its stake in shares of Amgen by 0.3% in the 2nd quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock worth $3,421,000 after buying an additional 31 shares in the last quarter. Hofer & Associates. Inc raised its position in shares of Amgen by 0.5% during the second quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock worth $2,024,000 after purchasing an additional 32 shares during the period. Cadinha & Co. LLC raised its position in shares of Amgen by 0.6% during the third quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock worth $1,678,000 after purchasing an additional 32 shares during the period. Finally, Lansing Street Advisors raised its position in shares of Amgen by 1.3% during the third quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock worth $832,000 after purchasing an additional 32 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. UBS Group cut their target price on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Truist Financial downgraded Amgen from a “buy” rating to a “hold” rating and lifted their price target for the company from $320.00 to $333.00 in a report on Monday, October 14th. TD Cowen lifted their price target on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a report on Monday, October 21st. Cantor Fitzgerald reiterated an “overweight” rating and set a $405.00 price target on shares of Amgen in a report on Tuesday, October 22nd. Finally, Bank of America boosted their target price on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Amgen has an average rating of “Moderate Buy” and an average target price of $333.57.

Amgen Stock Performance

Shares of Amgen stock opened at $283.61 on Friday. The company has a market capitalization of $152.45 billion, a PE ratio of 36.31, a PEG ratio of 2.53 and a beta of 0.60. Amgen Inc. has a 12 month low of $260.52 and a 12 month high of $346.85. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The stock’s fifty day simple moving average is $320.85 and its 200 day simple moving average is $318.36.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping the consensus estimate of $5.11 by $0.47. The business had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm’s revenue was up 23.2% compared to the same quarter last year. During the same quarter last year, the business posted $4.96 EPS. On average, research analysts predict that Amgen Inc. will post 19.51 EPS for the current year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 3.17%. The ex-dividend date is Monday, November 18th. Amgen’s payout ratio is presently 115.24%.

Amgen Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.