E Fund Management Co. Ltd. Has $6.03 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Key Points

• E Fund Management Co. Ltd. increased its stake in Amgen Inc. by 56.2%, acquiring an additional 6,956 shares to total 19,338 shares worth approximately $6,025,000.
• Recent insider trading saw Amgen's SVP Rachna Khosla sell 1,500 shares at an average price of $289.68, significantly reducing her ownership by 15.52%.
• Amgen reported a quarterly EPS of $6.02, exceeding estimates, with a revenue of $9.18 billion, indicating a 9.4% increase from the previous year.

E Fund Management Co. Ltd. raised its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 56.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,338 shares of the medical research company's stock after purchasing an additional 6,956 shares during the quarter. E Fund Management Co. Ltd.'s holdings in Amgen were worth $6,025,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. KPP Advisory Services LLC increased its stake in Amgen by 87.1% during the 1st quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company's stock worth $1,817,000 after buying an additional 2,716 shares during the period. Advisor Resource Council purchased a new stake in Amgen during the 1st quarter worth $1,331,000. DLK Investment Management LLC increased its stake in Amgen by 7.3% during the 1st quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company's stock worth $6,384,000 after buying an additional 1,387 shares during the period. Founders Financial Alliance LLC increased its stake in Amgen by 2.7% during the 1st quarter. Founders Financial Alliance LLC now owns 1,577 shares of the medical research company's stock worth $491,000 after buying an additional 42 shares during the period. Finally, Stratos Investment Management LLC increased its position in shares of Amgen by 24.8% in the 1st quarter. Stratos Investment Management LLC now owns 21,382 shares of the medical research company's stock worth $6,662,000 after purchasing an additional 4,252 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Insider Activity

In other news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the transaction, the senior vice president owned 8,162 shares in the company, valued at approximately $2,364,368.16. This represents a 15.52% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Mizuho boosted their target price on shares of Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. UBS Group dropped their target price on shares of Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. Morgan Stanley boosted their target price on shares of Amgen from $330.00 to $333.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Piper Sandler reaffirmed an "overweight" rating and issued a $328.00 price target on shares of Amgen in a report on Friday, June 27th. Finally, Royal Bank Of Canada decreased their price target on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $303.76.

Amgen Stock Up 2.1%

AMGN stock traded up $6.18 during trading hours on Friday, hitting $296.47. The company's stock had a trading volume of 2,167,753 shares, compared to its average volume of 2,128,585. The stock has a 50 day moving average price of $293.18 and a two-hundred day moving average price of $292.85. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $339.17. The company has a market capitalization of $159.61 billion, a PE ratio of 24.24, a price-to-earnings-growth ratio of 2.50 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, topping analysts' consensus estimates of $5.28 by $0.74. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The business had revenue of $9.18 billion during the quarter, compared to analysts' expectations of $8.86 billion. During the same period in the previous year, the company earned $4.97 earnings per share. Amgen's revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be paid a $2.38 dividend. The ex-dividend date is Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.2%. Amgen's dividend payout ratio is currently 77.84%.

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.