State Street Corp Raises Stake in Amgen Inc. (NASDAQ:AMGN)

State Street Corp boosted its position in Amgen Inc. (NASDAQ:AMGN) by 1.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,317,018 shares of the medical research company’s stock after buying an additional 345,537 shares during the period. State Street Corp owned approximately 5.45% of Amgen worth $9,446,236,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in shares of Amgen in the third quarter worth about $25,000. Hershey Financial Advisers LLC purchased a new stake in shares of Amgen during the 2nd quarter worth about $30,000. nVerses Capital LLC purchased a new stake in shares of Amgen during the 2nd quarter worth about $31,000. Bbjs Financial Advisors LLC purchased a new stake in shares of Amgen during the 2nd quarter worth about $33,000. Finally, Matrix Trust Co purchased a new stake in shares of Amgen during the 3rd quarter worth about $36,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Wolfe Research initiated coverage on shares of Amgen in a research report on Friday, November 15th. They issued a “peer perform” rating on the stock. TD Cowen boosted their price objective on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Jefferies Financial Group reaffirmed a “buy” rating and issued a $380.00 price target on shares of Amgen in a research note on Tuesday, November 12th. Citigroup reduced their price objective on Amgen from $335.00 to $310.00 in a research note on Wednesday, November 27th. Finally, Robert W. Baird reaffirmed an “underperform” rating and set a $215.00 price objective on shares of Amgen in a research note on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $323.05.

Amgen Stock Down 0.0 %

Shares of NASDAQ AMGN opened at $278.26 on Thursday. Amgen Inc. has a 52-week low of $257.80 and a 52-week high of $346.85. The stock has a market cap of $149.57 billion, a PE ratio of 35.63, a price-to-earnings-growth ratio of 3.08 and a beta of 0.55. The business has a 50-day moving average price of $308.48 and a 200 day moving average price of $316.40. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55.

Amgen (NASDAQ:AMGN) last announced its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. During the same quarter in the prior year, the firm earned $4.96 earnings per share. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. Equities research analysts forecast that Amgen Inc. will post 19.51 earnings per share for the current year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be given a dividend of $2.25 per share. The ex-dividend date is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a yield of 3.23%. Amgen’s payout ratio is 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.