Amgen Inc. (NASDAQ:AMGN) Shares Acquired by Meeder Asset Management Inc.

Meeder Asset Management Inc. raised its stake in Amgen Inc. (NASDAQ:AMGN) by 14.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 53,443 shares of the medical research company’s stock after purchasing an additional 6,835 shares during the period. Amgen accounts for approximately 1.2% of Meeder Asset Management Inc.’s holdings, making the stock its 20th biggest holding. Meeder Asset Management Inc.’s holdings in Amgen were worth $17,220,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in shares of Amgen during the 3rd quarter valued at about $25,000. Strategic Financial Concepts LLC bought a new stake in shares of Amgen during the 2nd quarter valued at about $26,000. Hershey Financial Advisers LLC bought a new stake in shares of Amgen during the 2nd quarter valued at about $30,000. nVerses Capital LLC bought a new stake in shares of Amgen during the 2nd quarter valued at about $31,000. Finally, Bbjs Financial Advisors LLC bought a new stake in shares of Amgen during the 2nd quarter valued at about $33,000. Institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on AMGN shares. Wells Fargo & Company lowered shares of Amgen from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $320.00 to $335.00 in a research note on Wednesday, August 7th. StockNews.com raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. Robert W. Baird reaffirmed an “underperform” rating and issued a $215.00 price target on shares of Amgen in a research note on Wednesday, September 25th. Wolfe Research started coverage on shares of Amgen in a research note on Friday. They issued a “peer perform” rating for the company. Finally, Citigroup initiated coverage on shares of Amgen in a research note on Thursday, November 14th. They issued a “neutral” rating and a $335.00 price target for the company. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Amgen has an average rating of “Moderate Buy” and a consensus target price of $333.57.

Amgen Stock Down 0.9 %

AMGN stock opened at $278.76 on Tuesday. The firm has a market capitalization of $149.84 billion, a P/E ratio of 35.69, a P/E/G ratio of 2.53 and a beta of 0.60. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The company’s 50 day simple moving average is $319.90 and its 200-day simple moving average is $318.65. Amgen Inc. has a 52-week low of $260.52 and a 52-week high of $346.85.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping the consensus estimate of $5.11 by $0.47. The company had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. Amgen’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.96 EPS. As a group, equities research analysts anticipate that Amgen Inc. will post 19.51 EPS for the current year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s payout ratio is 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.