Mirae Asset Global Investments Co. Ltd. Boosts Stake in Amgen Inc. (NASDAQ:AMGN)

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 23.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 495,148 shares of the medical research company’s stock after buying an additional 92,756 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.09% of Amgen worth $129,945,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. AMF Tjanstepension AB raised its position in Amgen by 16.9% during the 3rd quarter. AMF Tjanstepension AB now owns 120,389 shares of the medical research company’s stock worth $38,825,000 after buying an additional 17,387 shares during the last quarter. Czech National Bank increased its stake in shares of Amgen by 7.1% in the third quarter. Czech National Bank now owns 109,459 shares of the medical research company’s stock worth $35,269,000 after acquiring an additional 7,237 shares during the period. Azzad Asset Management Inc. ADV raised its holdings in shares of Amgen by 44.9% during the third quarter. Azzad Asset Management Inc. ADV now owns 8,923 shares of the medical research company’s stock worth $2,875,000 after purchasing an additional 2,766 shares during the last quarter. Miracle Mile Advisors LLC boosted its holdings in Amgen by 13.0% in the third quarter. Miracle Mile Advisors LLC now owns 5,840 shares of the medical research company’s stock valued at $1,882,000 after purchasing an additional 672 shares during the last quarter. Finally, Richard P Slaughter Associates Inc acquired a new stake in Amgen during the 3rd quarter worth about $200,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Performance

NASDAQ AMGN opened at $289.02 on Wednesday. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The firm has a market capitalization of $155.36 billion, a P/E ratio of 37.01, a price-to-earnings-growth ratio of 2.87 and a beta of 0.56. The stock’s fifty day moving average is $270.95 and its two-hundred day moving average is $303.82. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, topping analysts’ consensus estimates of $5.04 by $0.27. Amgen had a net margin of 13.00% and a return on equity of 168.35%. On average, research analysts anticipate that Amgen Inc. will post 19.56 earnings per share for the current year.

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be paid a $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio is 115.24%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AMGN. Redburn Partners lowered their target price on Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Cantor Fitzgerald restated an “overweight” rating and issued a $405.00 price objective on shares of Amgen in a research report on Tuesday, October 22nd. Wolfe Research began coverage on shares of Amgen in a report on Friday, November 15th. They set a “peer perform” rating for the company. Bank of America reissued an “underperform” rating and set a $256.00 price target on shares of Amgen in a report on Tuesday, December 10th. Finally, Piper Sandler cut their price objective on shares of Amgen from $344.00 to $310.00 and set an “overweight” rating for the company in a report on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $314.00.

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.