King Luther Capital Management Corp Sells 539 Shares of Amgen Inc. (NASDAQ:AMGN)

King Luther Capital Management Corp reduced its position in shares of Amgen Inc. (NASDAQ:AMGN) by 0.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 511,380 shares of the medical research company’s stock after selling 539 shares during the period. King Luther Capital Management Corp owned 0.10% of Amgen worth $159,781,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Amgen by 6.2% in the first quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock valued at $14,809,720,000 after purchasing an additional 3,045,657 shares during the last quarter. Capital International Investors boosted its stake in Amgen by 547.8% during the 1st 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. Price T Rowe Associates Inc. MD grew its holdings in Amgen by 3.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,564,710 shares of the medical research company’s stock valued at $1,890,769,000 after buying an additional 243,720 shares during the last quarter. Royal Bank of Canada grew its holdings in Amgen by 14.8% in the 4th quarter. Royal Bank of Canada now owns 5,831,624 shares of the medical research company’s stock valued at $1,679,625,000 after buying an additional 751,947 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Amgen by 6.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,701,631 shares of the medical research company’s stock worth $844,137,000 after buying an additional 162,223 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on AMGN shares. Dbs Bank raised Amgen to a “strong-buy” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $305.00 price target (down from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Jefferies Financial Group restated a “buy” rating and issued a $380.00 price target (up from $375.00) on shares of Amgen in a research report on Wednesday, August 7th. Royal Bank of Canada upped their price objective on shares of Amgen from $332.00 to $362.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Finally, Morgan Stanley decreased their target price on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 11th. Eleven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given 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 $327.28.

Amgen Stock Up 0.9 %

Shares of NASDAQ AMGN opened at $335.95 on Friday. Amgen Inc. has a 52-week low of $249.70 and a 52-week high of $346.85. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. The business has a fifty day moving average of $329.44 and a two-hundred day moving average of $305.22. The stock has a market cap of $180.22 billion, a PE ratio of 47.99, a PEG ratio of 2.93 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). The firm had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The business’s revenue was up 20.1% on a year-over-year basis. During the same quarter last year, the firm posted $5.00 EPS. As a group, equities research analysts expect that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were given a dividend of $2.25 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.68%. Amgen’s payout ratio is 128.57%.

Amgen 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.