Kornitzer Capital Management Inc. KS Acquires 480 Shares of Amgen Inc. (NASDAQ:AMGN)

Kornitzer Capital Management Inc. KS boosted its holdings in Amgen Inc. (NASDAQ:AMGN) by 3.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,705 shares of the medical research company’s stock after buying an additional 480 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Amgen were worth $5,219,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Horizon Financial Services LLC bought a new stake in shares of Amgen in the 1st quarter worth approximately $28,000. United Community Bank acquired a new stake in Amgen during the fourth quarter worth $29,000. nVerses Capital LLC bought a new stake in Amgen in the 2nd quarter valued at $31,000. Bbjs Financial Advisors LLC acquired a new position in shares of Amgen in the 2nd quarter valued at $33,000. Finally, Western Pacific Wealth Management LP bought a new stake in Amgen in the fourth quarter valued at about $37,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on AMGN shares. Jefferies Financial Group restated a “buy” rating and issued a $380.00 target price (up from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Argus boosted their target price on shares of Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Bank of America increased their price target on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Wells Fargo & Company downgraded 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. Finally, Mizuho increased their price objective on Amgen from $223.00 to $235.00 and gave the company a “neutral” rating in a research report on Thursday, May 9th. Eleven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Amgen currently has a consensus rating of “Moderate Buy” and an average target price of $326.89.

Amgen Trading Down 1.9 %

NASDAQ AMGN opened at $324.36 on Friday. The stock’s 50 day moving average price is $326.10 and its two-hundred day moving average price is $301.86. 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 stock has a market capitalization of $174.00 billion, a price-to-earnings ratio of 46.34, a PEG ratio of 2.96 and a beta of 0.58. Amgen Inc. has a 52 week low of $248.38 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) 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 business had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. During the same quarter in the previous year, the firm posted $5.00 earnings per share. The firm’s quarterly revenue was up 20.1% on a year-over-year basis. As a group, analysts anticipate that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Investors 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 annualized dividend and a yield of 2.77%. Amgen’s dividend payout ratio (DPR) is presently 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.