Amgen Inc. (NASDAQ:AMGN) is Primecap Management Co. CA’s 3rd Largest Position

Primecap Management Co. CA lowered its position in Amgen Inc. (NASDAQ:AMGN) by 1.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 14,591,468 shares of the medical research company’s stock after selling 140,990 shares during the quarter. Amgen comprises 3.3% of Primecap Management Co. CA’s investment portfolio, making the stock its 3rd largest holding. Primecap Management Co. CA owned approximately 2.73% of Amgen worth $4,202,635,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. WealthPlan Investment Management LLC boosted its stake in Amgen by 82.6% in the 3rd quarter. WealthPlan Investment Management LLC now owns 840 shares of the medical research company’s stock worth $226,000 after purchasing an additional 380 shares during the period. OVERSEA CHINESE BANKING Corp Ltd bought a new position in Amgen in the 3rd quarter worth about $288,000. Larson Financial Group LLC boosted its stake in Amgen by 455.6% in the 3rd quarter. Larson Financial Group LLC now owns 350 shares of the medical research company’s stock worth $94,000 after purchasing an additional 287 shares during the period. NBC Securities Inc. bought a new position in Amgen in the 3rd quarter worth about $1,809,000. Finally, MONECO Advisors LLC boosted its stake in Amgen by 10.4% in the 3rd quarter. MONECO Advisors LLC now owns 1,895 shares of the medical research company’s stock worth $509,000 after purchasing an additional 179 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AMGN. Morgan Stanley lifted their price target on Amgen from $271.00 to $310.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. BMO Capital Markets boosted their target price on Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Barclays upgraded Amgen from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $230.00 to $300.00 in a research report on Friday, May 3rd. Royal Bank of Canada dropped their target price on Amgen from $332.00 to $328.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. Finally, StockNews.com upgraded Amgen from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Amgen presently has a consensus rating of “Moderate Buy” and an average price target of $305.65.

Insider Transactions at Amgen

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $313.09, for a total value of $662,811.53. Following the transaction, the senior vice president now owns 9,883 shares of the company’s stock, valued at $3,094,268.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.69% of the company’s stock.

Amgen Stock Performance

NASDAQ:AMGN traded down $0.66 on Friday, hitting $305.84. The stock had a trading volume of 2,425,809 shares, compared to its average volume of 2,831,793. The stock has a market cap of $164.06 billion, a price-to-earnings ratio of 43.69, a price-to-earnings-growth ratio of 2.80 and a beta of 0.60. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 11.96. The business’s 50-day simple moving average is $285.02 and its two-hundred day simple moving average is $285.51. Amgen Inc. has a 52-week low of $211.71 and a 52-week high of $329.72.

Amgen (NASDAQ:AMGN) last announced its earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.76 by $0.20. The business had revenue of $7.45 billion for the quarter, compared to analysts’ expectations of $7.45 billion. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The business’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same period last year, the firm posted $3.98 earnings per share. As a group, research analysts predict that Amgen Inc. will post 19.46 earnings per share for the current year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend payout ratio (DPR) is currently 128.57%.

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.