Profund Advisors LLC Decreases Stock Position in Amgen Inc. (NASDAQ:AMGN)

Profund Advisors LLC cut its holdings in Amgen Inc. (NASDAQ:AMGNGet Rating) by 4.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,506 shares of the medical research company’s stock after selling 4,593 shares during the quarter. Amgen makes up approximately 1.5% of Profund Advisors LLC’s portfolio, making the stock its 11th largest holding. Profund Advisors LLC’s holdings in Amgen were worth $20,400,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Roundview Capital LLC lifted its holdings in Amgen by 1.3% in the 1st quarter. Roundview Capital LLC now owns 8,383 shares of the medical research company’s stock valued at $2,027,000 after purchasing an additional 107 shares in the last quarter. Merit Financial Group LLC boosted its position in Amgen by 39.2% during the first quarter. Merit Financial Group LLC now owns 2,297 shares of the medical research company’s stock worth $555,000 after acquiring an additional 647 shares during the last quarter. Ergoteles LLC purchased a new stake in Amgen in the 1st quarter worth approximately $219,000. First Western Trust Bank acquired a new position in Amgen in the 1st quarter valued at $334,000. Finally, Fuller & Thaler Asset Management Inc. raised its holdings in Amgen by 2.1% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 24,688 shares of the medical research company’s stock valued at $5,970,000 after acquiring an additional 513 shares during the last quarter. 75.53% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Down 0.9 %

Shares of AMGN stock traded down $2.45 on Wednesday, hitting $257.25. The stock had a trading volume of 418,156 shares, compared to its average volume of 1,990,422. The stock’s 50 day moving average is $273.21 and its 200-day moving average is $257.04. The firm has a market capitalization of $137.26 billion, a price-to-earnings ratio of 20.83, a P/E/G ratio of 1.85 and a beta of 0.67. Amgen Inc. has a 52-week low of $214.39 and a 52-week high of $296.67. The company has a debt-to-equity ratio of 10.17, a quick ratio of 1.35 and a current ratio of 1.68.

Amgen (NASDAQ:AMGNGet Rating) last posted its quarterly earnings data on Thursday, November 3rd. The medical research company reported $4.70 earnings per share for the quarter, beating analysts’ consensus estimates of $4.43 by $0.27. Amgen had a net margin of 25.96% and a return on equity of 287.23%. The company had revenue of $6.65 billion during the quarter, compared to analysts’ expectations of $6.56 billion. During the same period in the prior year, the company posted $4.67 EPS. The firm’s revenue for the quarter was down .8% on a year-over-year basis. As a group, research analysts expect that Amgen Inc. will post 17.62 earnings per share for the current year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 8th. Stockholders of record on Wednesday, February 15th will be given a dividend of $2.13 per share. The ex-dividend date of this dividend is Tuesday, February 14th. This represents a $8.52 dividend on an annualized basis and a dividend yield of 3.31%. This is an increase from Amgen’s previous quarterly dividend of $1.94. Amgen’s dividend payout ratio (DPR) is presently 62.23%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Barclays lifted their price objective on Amgen from $234.00 to $240.00 and gave the company an “underweight” rating in a research report on Wednesday, January 18th. Oppenheimer increased their price target on shares of Amgen from $300.00 to $310.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 6th. Credit Suisse Group assumed coverage on shares of Amgen in a research note on Thursday, November 17th. They set an “underperform” rating and a $240.00 price objective for the company. Morgan Stanley lifted their target price on Amgen from $279.00 to $282.00 and gave the company an “overweight” rating in a report on Friday, November 4th. Finally, Piper Sandler lowered their price target on Amgen from $299.00 to $293.00 and set an “overweight” rating for the company in a research report on Thursday, January 19th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $253.57.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 545 shares of the firm’s stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $293.54, for a total transaction of $159,979.30. Following the completion of the transaction, the senior vice president now directly owns 13,009 shares of the company’s stock, valued at approximately $3,818,661.86. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.46% of the company’s stock.

Amgen Profile

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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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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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