Profund Advisors LLC Acquires 5,248 Shares of Amgen Inc. (NASDAQ:AMGN)

Profund Advisors LLC grew its stake in Amgen Inc. (NASDAQ:AMGN) by 9.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 61,993 shares of the medical research company’s stock after purchasing an additional 5,248 shares during the period. Amgen makes up approximately 0.7% of Profund Advisors LLC’s holdings, making the stock its 22nd largest holding. Profund Advisors LLC’s holdings in Amgen were worth $19,370,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Hancock Whitney Corp lifted its holdings in shares of Amgen by 1.2% during the second quarter. Hancock Whitney Corp now owns 44,455 shares of the medical research company’s stock valued at $13,890,000 after acquiring an additional 527 shares during the period. Merriman Wealth Management LLC lifted its holdings in Amgen by 5.6% during the 2nd quarter. Merriman Wealth Management LLC now owns 1,873 shares of the medical research company’s stock valued at $585,000 after purchasing an additional 100 shares during the last quarter. Transatlantique Private Wealth LLC lifted its holdings in Amgen by 15.3% during the 2nd quarter. Transatlantique Private Wealth LLC now owns 3,469 shares of the medical research company’s stock valued at $1,084,000 after purchasing an additional 460 shares during the last quarter. Summit Trail Advisors LLC grew its stake in Amgen by 4.5% during the second quarter. Summit Trail Advisors LLC now owns 5,389 shares of the medical research company’s stock worth $1,684,000 after buying an additional 231 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its holdings in shares of Amgen by 6.1% during the second quarter. Thrivent Financial for Lutherans now owns 625,305 shares of the medical research company’s stock worth $195,377,000 after buying an additional 36,019 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Price Performance

Shares of AMGN opened at $337.38 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. The stock has a market cap of $180.98 billion, a P/E ratio of 48.20, a price-to-earnings-growth ratio of 2.93 and a beta of 0.61. The stock’s 50-day moving average price is $329.57 and its two-hundred day moving average price is $305.82. Amgen Inc. has a 1 year low of $249.70 and a 1 year high of $346.85.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The firm had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.35 billion. During the same quarter in the prior year, the firm posted $5.00 EPS. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. On average, equities analysts predict that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s payout ratio is presently 128.57%.

Analyst Ratings Changes

Several brokerages have recently commented on AMGN. Morgan Stanley reduced their target price on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a report on Thursday, July 11th. Dbs Bank raised Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Oppenheimer restated an “outperform” rating and issued a $380.00 target price on shares of Amgen in a research note on Wednesday, August 7th. Argus upped their price target on shares of Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Finally, Bank of America raised their price objective on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Eleven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Amgen presently has a consensus rating of “Moderate Buy” and an average target price of $327.28.

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.