Northcape Wealth Management LLC Increases Position in Amgen Inc. (NASDAQ:AMGN)

by · The Markets Daily

Northcape Wealth Management LLC lifted its holdings in Amgen Inc. (NASDAQ:AMGN – Free Report) by 187.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,840 shares of the medical research company’s stock after buying an additional 5,762 shares during the quarter. Northcape Wealth Management LLC’s holdings in Amgen were worth $2,848,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital International Investors boosted its stake in shares of Amgen by 547.8% during the first quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock valued at $1,991,738,000 after purchasing an additional 5,923,915 shares during the period. Pathway Financial Advisers LLC lifted its holdings in Amgen by 33,125.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after buying an additional 4,446,757 shares in the last quarter. International Assets Investment Management LLC boosted its position in Amgen by 6,812.4% in the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock valued at $8,130,610,000 after buying an additional 2,486,882 shares during the period. Janus Henderson Group PLC grew its stake in Amgen by 137.1% in the 1st quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock worth $676,984,000 after acquiring an additional 1,377,007 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Amgen by 561.5% during the third quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock worth $496,117,000 after acquiring an additional 1,306,982 shares during the period. 76.50% of the stock is owned by institutional investors.

Amgen Trading Down 4.2 %

NASDAQ AMGN opened at $283.61 on Friday. The stock has a market cap of $152.45 billion, a P/E ratio of 36.31, a P/E/G ratio of 2.69 and a beta of 0.60. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. Amgen Inc. has a 12-month low of $260.52 and a 12-month high of $346.85. The company has a fifty day simple moving average of $320.85 and a two-hundred day simple moving average of $318.05.

Amgen (NASDAQ:AMGN – Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. The company had revenue of $8.50 billion during 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 firm’s revenue was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.96 EPS. On average, analysts forecast that Amgen Inc. will post 19.51 earnings per share for the current year.

Amgen Dividend Announcement

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 issued a $2.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 annualized dividend and a yield of 3.17%. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AMGN. Citigroup started coverage on Amgen in a report on Thursday. They issued a “neutral” rating and a $335.00 price target for the company. Bank of America increased their price target on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Cantor Fitzgerald restated an “overweight” rating and issued a $405.00 price objective on shares of Amgen in a report on Tuesday, October 22nd. UBS Group dropped their target price on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Finally, Sanford C. Bernstein assumed coverage on shares of Amgen in a report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price target for the company. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $333.57.

Get Our Latest Research Report on AMGN

Amgen 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.

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