Mitsubishi UFJ Trust & Banking Corp Grows Stock Position in Amgen Inc. (NASDAQ:AMGN)

Key Points

• Mitsubishi UFJ Trust & Banking Corp increased its stake in Amgen Inc. by 2.7%, now holding 277,397 shares valued at approximately $86.4 million.
• Amgen recently reported quarterly earnings of $4.90 EPS, exceeding analysts' expectations, with revenue of $8.15 billion, which is a 9.4% increase year-over-year.
• The company announced a quarterly dividend of $2.38 per share, yielding 3.2% annually as of the last reporting period.

Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 2.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 277,397 shares of the medical research company's stock after purchasing an additional 7,308 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.05% of Amgen worth $86,423,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Brighton Jones LLC lifted its position in Amgen by 23.5% in the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock valued at $7,159,000 after acquiring an additional 5,226 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Amgen during the fourth quarter valued at $8,798,000. Wellington Management Group LLP increased its holdings in Amgen by 22.7% in the 4th quarter. Wellington Management Group LLP now owns 293,675 shares of the medical research company's stock worth $76,543,000 after buying an additional 54,321 shares in the last quarter. World Investment Advisors raised its position in Amgen by 51.3% in the 4th quarter. World Investment Advisors now owns 16,766 shares of the medical research company's stock worth $4,370,000 after buying an additional 5,683 shares during the last quarter. Finally, Arete Wealth Advisors LLC lifted its stake in Amgen by 53.8% during the 4th quarter. Arete Wealth Advisors LLC now owns 7,426 shares of the medical research company's stock valued at $1,934,000 after acquiring an additional 2,597 shares during the period. Institutional investors own 76.50% of the company's stock.

Insider Transactions at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the transaction, the senior vice president directly owned 8,162 shares in the company, valued at approximately $2,364,368.16. This represents a 15.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.69% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

AMGN has been the subject of several research reports. Cantor Fitzgerald reissued a "neutral" rating and set a $305.00 price objective on shares of Amgen in a report on Tuesday, June 24th. Mizuho boosted their target price on shares of Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. William Blair restated an "outperform" rating on shares of Amgen in a research note on Tuesday, June 24th. Bank of America increased their target price on Amgen from $252.00 to $261.00 and gave the company an "underperform" rating in a report on Wednesday, July 23rd. Finally, Morgan Stanley restated an "equal weight" rating on shares of Amgen in a research note on Friday, May 2nd. 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 given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $307.27.

Amgen Price Performance

Shares of NASDAQ:AMGN traded up $5.06 during midday trading on Monday, reaching $301.94. 2,315,958 shares of the company were exchanged, compared to its average volume of 1,828,628. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70. The stock has a market cap of $162.36 billion, a PE ratio of 27.55, a price-to-earnings-growth ratio of 2.57 and a beta of 0.49. The business's fifty day moving average is $292.04 and its two-hundred day moving average is $292.19. Amgen Inc. has a one year low of $253.30 and a one year high of $339.17.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, beating analysts' consensus estimates of $4.18 by $0.72. The firm had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.05 billion. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The business's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the business posted $3.96 earnings per share. As a group, analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be paid a $2.38 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a yield of 3.2%. Amgen's payout ratio is presently 86.86%.

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.