Profund Advisors LLC Has $19.37 Million Stake in Amgen Inc. (NASDAQ:AMGN)

Profund Advisors LLC increased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 9.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 61,993 shares of the medical research company’s stock after purchasing an additional 5,248 shares during the quarter. Amgen makes up approximately 0.7% of Profund Advisors LLC’s portfolio, making the stock its 22nd largest position. Profund Advisors LLC’s holdings in Amgen were worth $19,370,000 as of its most recent SEC filing.

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

Amgen Price Performance

Shares of Amgen stock opened at $337.38 on Friday. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. The company has a market cap of $180.98 billion, a PE ratio of 48.20, a price-to-earnings-growth ratio of 2.93 and a beta of 0.61. The firm has a fifty day moving average price of $329.57 and a two-hundred day moving average price of $305.82. Amgen Inc. has a fifty-two week low of $249.70 and a fifty-two week high of $346.85.

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

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were paid a $2.25 dividend. The ex-dividend date was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.67%. Amgen’s payout ratio is 128.57%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on AMGN shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $305.00 price objective (down previously from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Jefferies Financial Group restated a “buy” rating and set a $380.00 price target (up previously from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Wells Fargo & Company cut shares of Amgen from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $320.00 to $335.00 in a report on Wednesday, August 7th. Royal Bank of Canada raised their target price on Amgen from $332.00 to $362.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Finally, Bank of America upped their price target on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Eleven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amgen has an average rating of “Moderate Buy” and a consensus price target of $327.28.

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.