Sumitomo Mitsui Trust Group Inc. Grows Position in Amgen Inc. (NASDAQ:AMGN)

Sumitomo Mitsui Trust Group Inc. increased its holdings in Amgen Inc. (NASDAQ:AMGN) by 1.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,575,775 shares of the medical research company’s stock after buying an additional 26,805 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Amgen were worth $507,730,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Meyer Handelman Co. lifted its holdings in Amgen by 7.2% during the 2nd quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock worth $40,566,000 after purchasing an additional 8,700 shares in the last quarter. EP Wealth Advisors LLC lifted its stake in Amgen by 11.0% in the 1st quarter. EP Wealth Advisors LLC now owns 23,769 shares of the medical research company’s stock worth $6,758,000 after purchasing an additional 2,353 shares in the last quarter. Cornerstone Capital Inc. grew its position in shares of Amgen by 3.2% during the 3rd quarter. Cornerstone Capital Inc. now owns 106,538 shares of the medical research company’s stock valued at $34,328,000 after purchasing an additional 3,260 shares in the last quarter. Stanley Laman Group Ltd. purchased a new stake in shares of Amgen in the 2nd quarter valued at about $3,354,000. Finally, Verity & Verity LLC grew its stake in Amgen by 2.7% in the 2nd quarter. Verity & Verity LLC now owns 82,368 shares of the medical research company’s stock worth $25,736,000 after buying an additional 2,182 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AMGN. Sanford C. Bernstein assumed coverage on Amgen in a research note on Thursday, October 17th. They set an “outperform” rating and a $380.00 price target for the company. Truist Financial lowered Amgen from a “buy” rating to a “hold” rating and upped their target price for the stock from $320.00 to $333.00 in a research note on Monday, October 14th. Cantor Fitzgerald reissued an “overweight” rating and set a $405.00 price target on shares of Amgen in a research note on Tuesday, October 22nd. Oppenheimer reaffirmed an “outperform” rating and issued a $380.00 price objective on shares of Amgen in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $362.00 target price on shares of Amgen in a research report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Amgen currently has an average rating of “Moderate Buy” and a consensus target price of $333.50.

Amgen Stock Performance

Shares of Amgen stock opened at $321.81 on Tuesday. 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 business has a fifty day simple moving average of $323.37 and a two-hundred day simple moving average of $318.07. The firm has a market capitalization of $172.98 billion, a P/E ratio of 41.20, a P/E/G ratio of 2.90 and a beta of 0.60. Amgen Inc. has a 12 month low of $260.52 and a 12 month high of $346.85.

Amgen (NASDAQ:AMGN) last announced its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The business had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same quarter last year, the firm earned $4.96 earnings per share. On average, equities analysts forecast that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.80%. The ex-dividend date is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is 115.24%.

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.