Braun Stacey Associates Inc. Has $17.46 Million Position in Amgen Inc. (NASDAQ:AMGN)

Braun Stacey Associates Inc. lifted its stake in Amgen Inc. (NASDAQ:AMGN) by 3.0% during the third quarter, HoldingsChannel reports. The fund owned 54,177 shares of the medical research company’s stock after purchasing an additional 1,561 shares during the quarter. Braun Stacey Associates Inc.’s holdings in Amgen were worth $17,456,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Capital International Investors boosted its holdings in Amgen by 547.8% in the first quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock worth $1,991,738,000 after purchasing an additional 5,923,915 shares in the last quarter. Pathway Financial Advisers LLC boosted its holdings in Amgen by 33,125.4% during the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after acquiring an additional 4,446,757 shares during the period. International Assets Investment Management LLC boosted its holdings in Amgen by 6,812.4% during the third quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock valued at $8,130,610,000 after acquiring an additional 2,486,882 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Amgen by 137.1% in the first quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock valued at $676,984,000 after buying an additional 1,377,007 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Amgen by 561.5% in the third quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock valued at $496,117,000 after buying an additional 1,306,982 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMGN has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $305.00 price target (down previously from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Jefferies Financial Group reissued a “buy” rating and issued a $380.00 price target on shares of Amgen in a report on Tuesday, November 12th. Robert W. Baird reissued an “underperform” rating and issued a $215.00 price target on shares of Amgen in a report on Wednesday, September 25th. Sanford C. Bernstein assumed coverage on shares of Amgen in a research note on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price objective on the stock. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $405.00 price target on shares of Amgen in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $333.57.

Amgen Stock Performance

Shares of NASDAQ:AMGN opened at $283.61 on Monday. The company’s 50 day moving average price is $320.85 and its two-hundred day moving average price is $318.65. Amgen Inc. has a 12-month low of $260.52 and a 12-month high of $346.85. The firm has a market cap of $152.45 billion, a PE ratio of 36.31, a PEG ratio of 2.53 and a beta of 0.60. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating the consensus estimate 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 firm’s revenue was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.96 EPS. Equities research analysts predict that Amgen Inc. will post 19.51 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s payout ratio is currently 115.24%.

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.