Harvest Fund Management Co. Ltd Has $8.86 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Harvest Fund Management Co. Ltd raised its position in Amgen Inc. (NASDAQ:AMGN) by 44.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,496 shares of the medical research company’s stock after buying an additional 8,524 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Amgen were worth $8,856,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC grew its position in Amgen by 33,125.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock worth $1,437,115,000 after acquiring an additional 4,446,757 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Amgen by 6,812.4% in the third quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock worth $8,130,610,000 after purchasing an additional 2,486,882 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Amgen by 561.5% during the third quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock worth $496,117,000 after purchasing an additional 1,306,982 shares during the last quarter. Granite Bay Wealth Management LLC increased its stake in shares of Amgen by 9,058.1% in the second quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock valued at $223,897,000 after buying an additional 748,200 shares in the last quarter. Finally, Swedbank AB bought a new position in shares of Amgen in the first quarter valued at about $151,977,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Performance

Shares of Amgen stock opened at $294.53 on Monday. Amgen Inc. has a 12 month low of $260.68 and a 12 month high of $346.85. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The company has a market capitalization of $158.32 billion, a PE ratio of 37.71, a PEG ratio of 2.59 and a beta of 0.60. The stock’s fifty day simple moving average is $316.52 and its 200 day simple moving average is $318.18.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. During the same quarter in the previous year, the firm posted $4.96 earnings per share. The business’s revenue was up 23.2% on a year-over-year basis. On average, research analysts predict that Amgen Inc. will post 19.52 EPS for the current year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders 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 yield of 3.06%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AMGN. Jefferies Financial Group reissued a “buy” rating and set a $380.00 price objective on shares of Amgen in a report on Tuesday, November 12th. William Blair reissued an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. Oppenheimer reissued an “outperform” rating and issued a $380.00 price target on shares of Amgen in a report on Wednesday, August 7th. UBS Group reduced their price objective on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Finally, StockNews.com raised Amgen from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amgen currently has a consensus rating of “Moderate Buy” and an average price target of $333.57.

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.