Joseph Group Capital Management Increases Holdings in Amgen Inc. (NASDAQ:AMGN)

Joseph Group Capital Management increased its stake in Amgen Inc. (NASDAQ:AMGN) by 15.7% during the third quarter, according to its most recent filing with the SEC. The fund owned 8,633 shares of the medical research company’s stock after buying an additional 1,169 shares during the quarter. Amgen accounts for approximately 1.1% of Joseph Group Capital Management’s portfolio, making the stock its 27th largest holding. Joseph Group Capital Management’s holdings in Amgen were worth $2,782,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Meyer Handelman Co. grew its position in shares of Amgen by 7.2% during the 2nd quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock valued at $40,566,000 after acquiring an additional 8,700 shares during the period. Swiss National Bank grew its holdings in Amgen by 0.3% during the third quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock valued at $513,033,000 after purchasing an additional 5,500 shares during the period. EP Wealth Advisors LLC raised its stake in shares of Amgen by 11.0% in the first quarter. EP Wealth Advisors LLC now owns 23,769 shares of the medical research company’s stock valued at $6,758,000 after buying an additional 2,353 shares during the period. Mizuho Securities USA LLC lifted its position in shares of Amgen by 88.8% during the 3rd quarter. Mizuho Securities USA LLC now owns 78,092 shares of the medical research company’s stock valued at $25,162,000 after buying an additional 36,733 shares during the last quarter. Finally, Cornerstone Capital Inc. increased its holdings in Amgen by 3.2% in the 3rd quarter. Cornerstone Capital Inc. now owns 106,538 shares of the medical research company’s stock worth $34,328,000 after acquiring an additional 3,260 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on AMGN. Royal Bank of Canada reiterated an “outperform” rating and set a $362.00 target price on shares of Amgen in a research report on Thursday, September 26th. StockNews.com upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. TD Cowen boosted their target price on shares of Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a report on Monday, October 21st. Dbs Bank raised Amgen to a “strong-buy” rating in a report on Monday, September 16th. Finally, William Blair reiterated an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Amgen has a consensus rating of “Moderate Buy” and an average target price of $333.57.

Amgen Trading Down 0.9 %

NASDAQ AMGN opened at $278.76 on Tuesday. 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’s 50-day simple moving average is $319.90 and its two-hundred day simple moving average is $318.65. Amgen Inc. has a twelve month low of $260.52 and a twelve month high of $346.85. The company has a market capitalization of $149.84 billion, a price-to-earnings ratio of 35.69, a PEG ratio of 2.53 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $8.50 billion. During the same period last year, the firm posted $4.96 EPS. Amgen’s revenue for the quarter was up 23.2% compared to the same quarter last year. Research analysts forecast that Amgen Inc. will post 19.51 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be paid a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 3.23%. The ex-dividend date is Monday, November 18th. Amgen’s dividend payout ratio is presently 115.24%.

Amgen Company 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.