MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Takes Position in Amgen Inc. (NASDAQ:AMGN)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in Amgen Inc. (NASDAQ:AMGN) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 726 shares of the medical research company’s stock, valued at approximately $234,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Keynote Financial Services LLC increased its stake in Amgen by 0.6% in the second quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock worth $1,530,000 after purchasing an additional 30 shares during the period. Ascent Group LLC increased its stake in 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 during the period. RFP Financial Group LLC lifted its holdings in Amgen by 17.1% during the 1st quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock valued at $62,000 after buying an additional 32 shares in the last quarter. Hofer & Associates. Inc boosted its position in 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 buying an additional 32 shares during the period. Finally, Cadinha & Co. LLC grew its stake in Amgen by 0.6% in the 3rd quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock worth $1,678,000 after acquiring an additional 32 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on AMGN shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $362.00 price target on shares of Amgen in a report on Thursday, September 26th. Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 target price (up from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $305.00 price objective (down from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Robert W. Baird reiterated an “underperform” rating and set a $215.00 target price on shares of Amgen in a report on Wednesday, September 25th. Finally, Argus boosted their price objective on shares of Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Amgen currently has a consensus rating of “Hold” and a consensus target price of $326.95.

Amgen Stock Down 1.1 %

Amgen stock opened at $324.62 on Tuesday. The business’s 50-day moving average price is $326.05 and its 200 day moving average price is $311.20. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. The firm has a market cap of $174.14 billion, a price-to-earnings ratio of 46.37, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61. Amgen Inc. has a 52 week low of $249.70 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN) last posted 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). The firm had revenue of $8.39 billion for the quarter, compared to analysts’ expectations of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. Amgen’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period last year, the firm earned $5.00 earnings per share. As a group, sell-side analysts anticipate that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Announces Dividend

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

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.