Pitcairn Co. Grows Position in Amgen, Inc. (AMGN)

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Pitcairn Co. increased its stake in Amgen, Inc. (NASDAQ:AMGN) by 75.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,682 shares of the medical research company’s stock after buying an additional 4,150 shares during the period. Pitcairn Co.’s holdings in Amgen were worth $2,007,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Beutel Goodman & Co Ltd. bought a new position in shares of Amgen during the second quarter valued at approximately $86,723,000. Natixis increased its stake in shares of Amgen by 2,612.1% during the second quarter. Natixis now owns 529,816 shares of the medical research company’s stock valued at $97,799,000 after purchasing an additional 510,281 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Amgen by 17.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,365,045 shares of the medical research company’s stock valued at $436,551,000 after purchasing an additional 343,690 shares in the last quarter. Bank of Nova Scotia increased its stake in shares of Amgen by 234.2% during the second quarter. Bank of Nova Scotia now owns 433,450 shares of the medical research company’s stock valued at $80,011,000 after purchasing an additional 303,743 shares in the last quarter. Finally, Royal London Asset Management Ltd. bought a new position in shares of Amgen during the second quarter valued at approximately $54,522,000. 82.37% of the stock is owned by institutional investors.

NASDAQ:AMGN opened at $193.16 on Friday. Amgen, Inc. has a 52 week low of $163.31 and a 52 week high of $210.19. The company has a debt-to-equity ratio of 2.05, a quick ratio of 2.84 and a current ratio of 3.08. The company has a market cap of $125.93 billion, a PE ratio of 15.35, a PEG ratio of 2.05 and a beta of 1.37.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, October 30th. The medical research company reported $3.69 EPS for the quarter, beating the Zacks’ consensus estimate of $3.45 by $0.24. Amgen had a net margin of 9.44% and a return on equity of 54.14%. The firm had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $5.78 billion. During the same quarter in the prior year, the company posted $3.27 earnings per share. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, equities analysts predict that Amgen, Inc. will post 14.24 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Friday, November 16th will be issued a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend is Thursday, November 15th. Amgen’s payout ratio is 41.97%.

AMGN has been the subject of a number of analyst reports. Cann reaffirmed a “buy” rating and set a $224.00 target price on shares of Amgen in a research note on Monday, October 1st. Royal Bank of Canada reaffirmed a “neutral” rating and set a $193.00 target price on shares of Amgen in a research note on Monday, September 10th. Oppenheimer reaffirmed a “buy” rating and set a $224.00 target price on shares of Amgen in a research note on Tuesday, August 28th. Goldman Sachs Group reaffirmed a “buy” rating and set a $229.00 target price on shares of Amgen in a research note on Friday, October 12th. Finally, Jefferies Financial Group set a $220.00 target price on shares of Amgen and gave the company a “buy” rating in a research note on Monday, October 8th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have issued a buy rating to the stock. Amgen currently has a consensus rating of “Hold” and an average price target of $204.55.

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About Amgen

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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