Equitable Holdings Inc. raised its holdings in Amgen Inc. (NASDAQ:AMGN) by 20.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,857 shares of the medical research company’s stock after acquiring an additional 1,695 shares during the quarter. Equitable Holdings Inc.’s holdings in Amgen were worth $2,403,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Regency Capital Management Inc. DE bought a new position in Amgen in the first quarter valued at approximately $27,000. Maverick Capital Ltd. bought a new position in shares of Amgen during the first quarter worth $27,000. Elmwood Wealth Management Inc. bought a new position in shares of Amgen during the first quarter worth $31,000. Wolverine Asset Management LLC boosted its position in shares of Amgen by 1,587.5% during the first quarter. Wolverine Asset Management LLC now owns 135 shares of the medical research company’s stock worth $33,000 after purchasing an additional 127 shares in the last quarter. Finally, KB Financial Partners LLC bought a new position in shares of Amgen during the first quarter worth $35,000. 74.73% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently weighed in on AMGN shares. Morgan Stanley cut shares of Amgen from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $280.00 to $251.00 in a research report on Tuesday, September 7th. William Blair restated a “hold” rating on shares of Amgen in a report on Friday, September 17th. Robert W. Baird restated a “sell” rating on shares of Amgen in a report on Thursday, August 5th. BMO Capital Markets raised their price objective on shares of Amgen from $296.00 to $301.00 and gave the stock an “outperform” rating in a report on Monday, May 31st. Finally, Mizuho initiated coverage on shares of Amgen in a report on Friday, September 10th. They set a “hold” rating and a $222.00 price objective on the stock. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $249.70.
Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Monday, August 2nd. The medical research company reported $4.38 earnings per share for the quarter, topping the consensus estimate of $4.09 by $0.29. The company had revenue of $6.53 billion for the quarter, compared to analyst estimates of $6.43 billion. Amgen had a net margin of 22.55% and a return on equity of 99.85%. As a group, equities research analysts forecast that Amgen Inc. will post 16.41 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 8th. Stockholders of record on Tuesday, August 17th were paid a dividend of $1.76 per share. The ex-dividend date of this dividend was Monday, August 16th. This represents a $7.04 annualized dividend and a dividend yield of 3.27%. Amgen’s dividend payout ratio is presently 42.41%.
Amgen, Inc is a biotechnology company, which engages in the discovery, development, manufacture and marketing of human therapeutics. Its products include the following brands: Aranesp, Aimovig, KANJINTI, EVENITY, AMGEVITA, AVSOLA, BLINCYTO, MVASI, Corlanor, Enbrel, EPOGEN, IMLYGIC, Kyprolis, Neulasta, NEUPOGEN, Nplate, Parsabiv, Prolia, Repatha, Sensipar, Vectibix, Otezla, RIABNI, and XGEVA.
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