Mitsubishi UFJ Asset Management Co. Ltd. Grows Stock Position in Amgen Inc. (NASDAQ:AMGN)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Amgen Inc. by 10.5%, owning 1,118,072 shares valued at approximately $348.3 million as of the latest SEC filing.
• Other institutional investors significantly boosted their positions in Amgen, with Capital World Investors raising its stake by 1,292% during the fourth quarter, now owning over 6.4 million shares.
• Amgen recently announced a quarterly dividend of $2.38 per share, reflecting a yield of 3.3%, with the next payout scheduled for September 12th.

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 10.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,118,072 shares of the medical research company's stock after purchasing an additional 106,665 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.21% of Amgen worth $348,335,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AMGN. Capital World Investors raised its stake in Amgen by 1,292.0% during the fourth quarter. Capital World Investors now owns 6,495,710 shares of the medical research company's stock valued at $1,693,042,000 after purchasing an additional 6,029,058 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Amgen by 43,573.5% during the first quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company's stock valued at $1,140,768,000 after buying an additional 3,653,205 shares during the last quarter. Capital International Investors lifted its stake in shares of Amgen by 40.1% during the 4th quarter. Capital International Investors now owns 12,212,065 shares of the medical research company's stock worth $3,182,843,000 after acquiring an additional 3,495,503 shares during the last quarter. Northern Trust Corp boosted its holdings in Amgen by 15.8% during the 4th quarter. Northern Trust Corp now owns 6,431,029 shares of the medical research company's stock valued at $1,676,183,000 after acquiring an additional 875,254 shares during the period. Finally, Capital Research Global Investors grew its position in Amgen by 20.7% in the 4th quarter. Capital Research Global Investors now owns 4,890,092 shares of the medical research company's stock valued at $1,274,553,000 after acquiring an additional 839,686 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $284.67 on Thursday. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.17 and a quick ratio of 0.88. The firm's 50 day simple moving average is $293.18 and its 200-day simple moving average is $292.39. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $339.17. The stock has a market capitalization of $153.07 billion, a price-to-earnings ratio of 23.28, a PEG ratio of 2.60 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.28 by $0.74. Amgen had a net margin of 18.96% and a return on equity of 180.66%. The business had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.86 billion. During the same quarter last year, the business earned $4.97 earnings per share. The company's revenue for the quarter was up 9.4% compared to the same quarter last year. Analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be paid a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Friday, August 22nd. Amgen's dividend payout ratio is currently 77.84%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AMGN. Royal Bank Of Canada lowered their target price on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Bank of America lifted their price objective on shares of Amgen from $252.00 to $261.00 and gave the company an "underperform" rating in a report on Wednesday, July 23rd. Citigroup raised their price objective on Amgen from $305.00 to $310.00 and gave the stock a "neutral" rating in a report on Wednesday. Mizuho raised their price target on Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Finally, Wall Street Zen upgraded shares of Amgen from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 18th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $307.23.

Insider Buying and Selling

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the sale, the senior vice president owned 8,162 shares of the company's stock, valued at $2,364,368.16. The trade was a 15.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.76% of the company's stock.

Amgen Company 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.

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