Amgen Inc. (NASDAQ:AMGN) Holdings Decreased by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS decreased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 7.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 15,417 shares of the medical research company’s stock after selling 1,288 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Amgen were worth $4,968,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Strategic Financial Concepts LLC purchased a new position in shares of Amgen during the second quarter valued at $26,000. Hershey Financial Advisers LLC purchased a new position in shares of Amgen during the second quarter valued at $30,000. nVerses Capital LLC purchased a new position in Amgen in the second quarter valued at about $31,000. Bbjs Financial Advisors LLC purchased a new position in Amgen in the second quarter valued at about $33,000. Finally, Matrix Trust Co purchased a new position in Amgen in the third quarter valued at about $36,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AMGN. Jefferies Financial Group restated a “buy” rating and issued a $380.00 target price (up previously from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Dbs Bank upgraded Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Robert W. Baird restated an “underperform” rating and issued a $215.00 target price on shares of Amgen in a research note on Wednesday, September 25th. TD Cowen upped their price target on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $362.00 price target on shares of Amgen in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $333.50.

Amgen Trading Up 0.0 %

Amgen stock opened at $321.91 on Friday. The business has a 50 day moving average price of $323.96 and a two-hundred day moving average price of $316.68. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The stock has a market cap of $173.04 billion, a price-to-earnings ratio of 41.22, a price-to-earnings-growth ratio of 2.79 and a beta of 0.60. Amgen Inc. has a 12 month low of $260.52 and a 12 month high of $346.85.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. During the same period in the prior year, the company posted $4.96 EPS. The company’s revenue was up 23.2% compared to the same quarter last year. As a group, equities analysts forecast that Amgen Inc. will post 19.51 EPS for the current year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be given a dividend of $2.25 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a yield of 2.80%. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

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.