CX Institutional Boosts Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

CX Institutional increased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 319.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 40,355 shares of the medical research company’s stock after buying an additional 30,741 shares during the period. CX Institutional’s holdings in Amgen were worth $13,003,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Keynote Financial Services LLC grew its position in shares of Amgen by 0.6% during the second 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 grew its holdings in Amgen by 0.3% during the 2nd quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock worth $3,421,000 after acquiring an additional 31 shares in the last quarter. RFP Financial Group LLC increased its position in shares of Amgen by 17.1% in the 1st quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock valued at $62,000 after purchasing an additional 32 shares during the last quarter. Hofer & Associates. Inc raised its holdings in shares of Amgen by 0.5% in the 2nd quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock valued at $2,024,000 after purchasing an additional 32 shares in the last quarter. Finally, Cadinha & Co. LLC lifted its position in shares of Amgen by 0.6% during the 3rd 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 last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Trading Down 1.1 %

NASDAQ:AMGN opened at $324.62 on Tuesday. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. Amgen Inc. has a 1 year low of $249.70 and a 1 year high of $346.85. The stock has a market capitalization of $174.14 billion, a price-to-earnings ratio of 46.37, a PEG ratio of 2.86 and a beta of 0.61. The stock has a fifty day moving average price of $326.05 and a two-hundred day moving average price of $311.20.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a return on equity of 161.72% and a net margin of 10.12%. The company had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.35 billion. During the same quarter in the previous year, the company posted $5.00 earnings per share. The company’s quarterly revenue was up 20.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were paid a $2.25 dividend. The ex-dividend date was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a yield of 2.77%. Amgen’s payout ratio is 128.57%.

Analyst Ratings Changes

AMGN has been the topic of a number of analyst reports. Argus raised their price target on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Bank of America raised their target price on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Truist Financial downgraded Amgen from a “buy” rating to a “hold” rating and upped their price target for the company from $320.00 to $333.00 in a report on Monday. Morgan Stanley cut their price objective on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a report on Thursday, July 11th. Finally, Barclays increased their target price on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Amgen presently has an average rating of “Hold” and an average price target of $326.95.

Amgen Company 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.