Amgen Inc. (NASDAQ:AMGN) Holdings Raised by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Amgen Inc. (NASDAQ:AMGN) by 6.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,442,543 shares of the medical research company’s stock after acquiring an additional 264,396 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.83% of Amgen worth $1,431,432,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Meyer Handelman Co. raised its stake in Amgen by 7.2% during the 2nd quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock valued at $40,566,000 after acquiring an additional 8,700 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in shares of Amgen by 3.2% during the third quarter. First Horizon Advisors Inc. now owns 60,769 shares of the medical research company’s stock valued at $19,581,000 after purchasing an additional 1,872 shares during the period. Napa Wealth Management bought a new stake in shares of Amgen during the third quarter valued at about $1,104,000. Swiss National Bank lifted its holdings in Amgen by 0.3% in the third quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock worth $513,033,000 after purchasing an additional 5,500 shares during the period. Finally, Summit Trail Advisors LLC grew its position in Amgen by 40.1% in the 3rd quarter. Summit Trail Advisors LLC now owns 7,552 shares of the medical research company’s stock valued at $2,433,000 after buying an additional 2,163 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of AMGN stock opened at $280.07 on Thursday. The company has a market capitalization of $150.55 billion, a price-to-earnings ratio of 35.86, a P/E/G ratio of 2.62 and a beta of 0.60. Amgen Inc. has a 1-year low of $257.80 and a 1-year high of $346.85. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The stock’s fifty day simple moving average is $313.58 and its 200-day simple moving average is $317.57.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data 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 firm had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period last year, the company posted $4.96 EPS. On average, sell-side analysts predict that Amgen Inc. will post 19.52 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be paid a $2.25 dividend. The ex-dividend date is Monday, November 18th. This represents a $9.00 annualized dividend and a yield of 3.21%. Amgen’s dividend payout ratio is presently 115.24%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AMGN. Dbs Bank raised shares of Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Redburn Partners cut their target price on Amgen from $200.00 to $195.00 in a research report on Wednesday. StockNews.com upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. Royal Bank of Canada cut their price objective on Amgen from $360.00 to $330.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Truist Financial lowered Amgen from a “buy” rating to a “hold” rating and lifted their target price for the stock from $320.00 to $333.00 in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Amgen presently has an average rating of “Moderate Buy” and an average price target of $323.05.

About Amgen

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.