King Luther Capital Management Corp Has $116.04 Million Position in Amgen Inc. (NASDAQ:AMGN)

King Luther Capital Management Corp lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 2.8% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 522,631 shares of the medical research company’s stock after selling 14,990 shares during the period. King Luther Capital Management Corp owned approximately 0.10% of Amgen worth $116,035,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL acquired a new position in Amgen in the first quarter worth about $28,000. PrairieView Partners LLC increased its holdings in shares of Amgen by 250.0% during the second quarter. PrairieView Partners LLC now owns 140 shares of the medical research company’s stock worth $31,000 after buying an additional 100 shares in the last quarter. Lumature Wealth Partners LLC increased its holdings in shares of Amgen by 51.1% during the first quarter. Lumature Wealth Partners LLC now owns 142 shares of the medical research company’s stock worth $34,000 after buying an additional 48 shares in the last quarter. Guardian Wealth Advisors LLC acquired a new stake in shares of Amgen during the first quarter worth approximately $37,000. Finally, Impact Partnership Wealth LLC bought a new stake in shares of Amgen during the second quarter valued at approximately $37,000. Institutional investors and hedge funds own 74.44% of the company’s stock.

Amgen Stock Up 0.3 %

Shares of NASDAQ:AMGN traded up $0.70 during midday trading on Monday, reaching $266.09. 223,929 shares of the company were exchanged, compared to its average volume of 2,466,519. The company has a quick ratio of 2.56, a current ratio of 2.86 and a debt-to-equity ratio of 7.71. Amgen Inc. has a fifty-two week low of $211.71 and a fifty-two week high of $291.60. The stock has a fifty day simple moving average of $269.59 and a two-hundred day simple moving average of $247.47. The firm has a market cap of $142.41 billion, a PE ratio of 18.86, a P/E/G ratio of 2.61 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, October 31st. The medical research company reported $4.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.65 by $0.31. Amgen had a net margin of 28.20% and a return on equity of 165.37%. The firm had revenue of $6.90 billion for the quarter, compared to analyst estimates of $6.92 billion. During the same period in the previous year, the business earned $4.70 EPS. The company’s revenue was up 3.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Amgen Inc. will post 18.65 earnings per share for the current year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 17th will be given a $2.13 dividend. This represents a $8.52 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend is Thursday, November 16th. Amgen’s dividend payout ratio (DPR) is presently 60.55%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on AMGN shares. JPMorgan Chase & Co. reissued a “neutral” rating and set a $270.00 price target on shares of Amgen in a research note on Friday, October 20th. UBS Group decreased their price target on shares of Amgen from $272.00 to $268.00 and set a “neutral” rating on the stock in a research note on Thursday, November 2nd. Oppenheimer raised their price objective on shares of Amgen from $290.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, October 20th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $310.00 price objective on shares of Amgen in a research note on Thursday, October 12th. Finally, HSBC began coverage on shares of Amgen in a research note on Wednesday, September 6th. They issued a “buy” rating and a $320.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Amgen presently has a consensus rating of “Hold” and a consensus target price of $278.15.

Insider Activity

In related news, EVP Jonathan P. Graham sold 10,000 shares of Amgen stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $272.81, for a total transaction of $2,728,100.00. Following the completion of the sale, the executive vice president now owns 28,078 shares of the company’s stock, valued at approximately $7,659,959.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, major shareholder Amgen Inc bought 1,764,705 shares of Amgen stock in a transaction that occurred on Tuesday, September 19th. The stock was acquired at an average price of $17.00 per share, with a total value of $29,999,985.00. Following the acquisition, the insider now owns 35,368,653 shares of the company’s stock, valued at approximately $601,267,101. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jonathan P. Graham sold 10,000 shares of Amgen stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $272.81, for a total transaction of $2,728,100.00. Following the sale, the executive vice president now directly owns 28,078 shares of the company’s stock, valued at approximately $7,659,959.18. The disclosure for this sale can be found here. Insiders own 0.46% of the company’s stock.

Amgen Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.