QRG Capital Management Inc. Has $30.55 Million Holdings in Amgen Inc. (NASDAQ:AMGN)

QRG Capital Management Inc. grew its holdings in Amgen Inc. (NASDAQ:AMGNFree Report) by 4.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 94,805 shares of the medical research company’s stock after purchasing an additional 4,326 shares during the period. QRG Capital Management Inc.’s holdings in Amgen were worth $30,547,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in AMGN. Strategic Financial Concepts LLC acquired a new position in shares of Amgen in the 2nd quarter valued at about $26,000. Hershey Financial Advisers LLC bought a new stake in shares of Amgen in the 2nd quarter valued at approximately $30,000. nVerses Capital LLC bought a new stake in shares of Amgen in the 2nd quarter valued at approximately $31,000. Bbjs Financial Advisors LLC bought a new stake in shares of Amgen in the 2nd quarter valued at approximately $33,000. Finally, Matrix Trust Co bought a new stake in shares of Amgen in the 3rd quarter valued at approximately $36,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

AMGN has been the subject of several recent research reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $405.00 price target on shares of Amgen in a research note on Tuesday, October 22nd. Robert W. Baird reaffirmed an “underperform” rating and set a $215.00 target price on shares of Amgen in a research report on Wednesday, September 25th. Morgan Stanley decreased their target price on Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research report on Thursday, July 11th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $362.00 target price on shares of Amgen in a research report on Thursday, September 26th. Finally, Barclays increased their price objective on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Amgen has a consensus rating of “Moderate Buy” and an average target price of $333.50.

Read Our Latest Analysis on AMGN

Amgen Price Performance

Shares of AMGN stock traded down $0.73 during trading hours on Monday, hitting $318.49. 31,568 shares of the company’s stock were exchanged, compared to its average volume of 2,406,886. The stock’s 50-day moving average is $324.47 and its 200-day moving average is $315.90. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.89. The stock has a market cap of $171.13 billion, a price-to-earnings ratio of 40.87, a price-to-earnings-growth ratio of 2.89 and a beta of 0.60. Amgen Inc. has a 52 week low of $260.52 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGNGet Free Report) last announced its earnings results 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 company had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.96 earnings per share. As a group, research analysts forecast that Amgen Inc. will post 19.45 EPS for the current year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.83%. The ex-dividend date is Monday, November 18th. Amgen’s dividend payout ratio is 115.24%.

Amgen Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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