Corundum Group Inc. Has $1.29 Million Holdings in Amgen Inc. (NASDAQ:AMGN)

Corundum Group Inc. increased its holdings in Amgen Inc. (NASDAQ:AMGN) by 111.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,113 shares of the medical research company’s stock after purchasing an additional 2,166 shares during the quarter. Corundum Group Inc.’s holdings in Amgen were worth $1,285,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC bought a new position in Amgen during the 4th quarter worth approximately $32,880,000. Tennessee Valley Asset Management Partners acquired a new stake in shares of Amgen during the fourth quarter worth $79,000. WCM Investment Management LLC bought a new position in Amgen during the fourth quarter worth $336,000. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in Amgen by 2.9% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,258 shares of the medical research company’s stock valued at $363,000 after buying an additional 36 shares during the period. Finally, BOK Financial Private Wealth Inc. bought a new stake in Amgen during the fourth quarter valued at $29,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Up 0.8 %

Shares of Amgen stock traded up $2.66 on Thursday, hitting $325.39. The company had a trading volume of 1,886,797 shares, compared to its average volume of 2,623,715. Amgen Inc. has a 1 year low of $248.38 and a 1 year high of $346.85. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42. The stock has a 50 day moving average of $319.66 and a 200-day moving average of $299.29. The stock has a market capitalization of $174.55 billion, a price-to-earnings ratio of 46.48, a P/E/G ratio of 2.78 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a return on equity of 156.21% and a net margin of 12.74%. The company had revenue of $8.39 billion for the quarter, compared to the consensus estimate of $8.35 billion. During the same quarter last year, the company posted $5.00 EPS. The company’s quarterly revenue was up 20.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Amgen Inc. will post 19.5 earnings per share for the current year.

Amgen Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AMGN. BMO Capital Markets lifted their price objective on Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. StockNews.com raised Amgen from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Bank of America increased their price target on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Oppenheimer reiterated an “outperform” rating and issued a $380.00 price objective on shares of Amgen in a research note on Wednesday, August 7th. Finally, Argus boosted their target price on shares of Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Eleven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Amgen presently has a consensus rating of “Moderate Buy” and a consensus target price of $326.89.

About Amgen

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.