Quantinno Capital Management LP Grows Holdings in Amgen Inc. (NASDAQ:AMGN)

Quantinno Capital Management LP grew its stake in Amgen Inc. (NASDAQ:AMGN) by 5.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 131,245 shares of the medical research company’s stock after buying an additional 7,241 shares during the quarter. Amgen makes up approximately 0.5% of Quantinno Capital Management LP’s portfolio, making the stock its 22nd biggest position. Quantinno Capital Management LP’s holdings in Amgen were worth $42,289,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMGN. Keynote Financial Services LLC raised its position in shares of Amgen by 0.6% in the 2nd quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock valued at $1,530,000 after purchasing an additional 30 shares during the last quarter. Ascent Group LLC raised its position in shares of Amgen by 0.3% in the 2nd quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock valued at $3,421,000 after purchasing an additional 31 shares during the last quarter. Hofer & Associates. Inc raised its position in shares of Amgen by 0.5% in the 2nd quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock valued at $2,024,000 after purchasing an additional 32 shares during the last quarter. Cadinha & Co. LLC raised its position in shares of Amgen by 0.6% in the 3rd quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock valued at $1,678,000 after purchasing an additional 32 shares during the last quarter. Finally, Lansing Street Advisors raised its position in shares of Amgen by 1.3% in the 3rd quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock valued at $832,000 after purchasing an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

Amgen stock opened at $278.26 on Thursday. The company’s fifty day moving average price is $308.48 and its 200 day moving average price is $316.40. Amgen Inc. has a 1 year low of $257.80 and a 1 year high of $346.85. The stock has a market capitalization of $149.57 billion, a P/E ratio of 35.63, a P/E/G ratio of 3.08 and a beta of 0.55. 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 released its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. During the same quarter last year, the company earned $4.96 EPS. The firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. As a group, equities research analysts anticipate 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. Shareholders of record on Monday, November 18th will be issued a $2.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a yield of 3.23%. Amgen’s payout ratio is currently 115.24%.

Analyst Upgrades and Downgrades

AMGN has been the subject of several research analyst reports. Citigroup decreased their price objective on shares of Amgen from $335.00 to $310.00 in a research report on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. Truist Financial downgraded shares of Amgen from a “buy” rating to a “hold” rating and increased their price target for the stock from $320.00 to $333.00 in a report on Monday, October 14th. StockNews.com downgraded shares of Amgen from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 28th. Finally, Royal Bank of Canada cut their price target on shares of Amgen from $360.00 to $330.00 and set an “outperform” rating on the stock in a report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Amgen currently has an average rating of “Hold” and a consensus target price of $323.05.

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.