Kornitzer Capital Management Inc. KS Decreases Position in Amgen Inc. (NASDAQ:AMGN)

Kornitzer Capital Management Inc. KS cut its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 5.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,139 shares of the medical research company’s stock after selling 938 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Amgen were worth $4,648,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. OFI Invest Asset Management bought a new position in shares of Amgen during the third quarter valued at approximately $26,000. Briaud Financial Planning Inc bought a new position in shares of Amgen during the third quarter valued at approximately $26,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Amgen during the first quarter valued at approximately $28,000. BOK Financial Private Wealth Inc. bought a new position in shares of Amgen during the fourth quarter valued at approximately $29,000. Finally, Providence Capital Advisors LLC bought a new position in shares of Amgen during the third quarter valued at approximately $30,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AMGN. StockNews.com cut Amgen from a “buy” rating to a “hold” rating in a research note on Thursday, March 28th. Morgan Stanley dropped their price objective on Amgen from $281.00 to $278.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 7th. Leerink Partnrs cut Amgen from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 7th. SVB Leerink cut Amgen from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $324.00 to $318.00 in a research note on Wednesday, February 7th. Finally, TD Cowen dropped their price objective on Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a research note on Wednesday. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $296.95.

Amgen Stock Performance

Shares of AMGN opened at $268.93 on Friday. Amgen Inc. has a 12 month low of $211.71 and a 12 month high of $329.72. The stock has a fifty day moving average price of $276.90 and a 200-day moving average price of $281.40. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 10.14. The firm has a market cap of $144.25 billion, a PE ratio of 21.53, a P/E/G ratio of 2.50 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.66 by $0.05. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The firm had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.13 billion. During the same quarter in the prior year, the business posted $4.09 EPS. The business’s revenue for the quarter was up 19.8% compared to the same quarter last year. Equities research analysts predict that Amgen Inc. will post 19.45 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be paid a $2.25 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $9.00 dividend on an annualized basis and a yield of 3.35%. Amgen’s dividend payout ratio (DPR) is 72.06%.

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.