Van ECK Associates Corp Has $93.27 Million Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Van ECK Associates Corp decreased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 64.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 323,817 shares of the medical research company’s stock after selling 599,315 shares during the quarter. Van ECK Associates Corp’s holdings in Amgen were worth $93,266,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new stake in shares of Amgen during the third quarter worth about $26,000. Briaud Financial Planning Inc bought a new position in Amgen in the third quarter valued at approximately $26,000. BOK Financial Private Wealth Inc. acquired a new position in shares of Amgen in the fourth quarter valued at approximately $29,000. Providence Capital Advisors LLC acquired a new stake in shares of Amgen during the third quarter worth $30,000. Finally, Planned Solutions Inc. bought a new stake in Amgen in the 4th quarter valued at $30,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Truist Financial reiterated a “buy” rating and set a $320.00 target price on shares of Amgen in a report on Friday, April 12th. Raymond James started coverage on shares of Amgen in a report on Thursday, March 28th. They set a “market perform” rating for the company. Leerink Partnrs lowered shares of Amgen from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 7th. Royal Bank of Canada restated an “outperform” rating and set a $329.00 price objective on shares of Amgen in a research note on Wednesday, April 3rd. Finally, Morgan Stanley lowered their target price on Amgen from $281.00 to $278.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 7th. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $297.40.

Amgen Price Performance

Shares of NASDAQ AMGN traded down $2.93 during trading hours on Tuesday, hitting $273.45. 395,472 shares of the stock were exchanged, compared to its average volume of 2,791,311. Amgen Inc. has a 1-year low of $211.71 and a 1-year high of $329.72. The company has a market cap of $146.67 billion, a PE ratio of 22.04, a price-to-earnings-growth ratio of 2.61 and a beta of 0.58. The company has a debt-to-equity ratio of 10.14, a quick ratio of 1.13 and a current ratio of 1.65. The company’s fifty day simple moving average is $274.96 and its two-hundred day simple moving average is $281.45.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.66 by $0.05. The company had revenue of $8.20 billion during the quarter, compared to analysts’ expectations of $8.13 billion. Amgen had a return on equity of 154.27% and a net margin of 23.83%. Amgen’s revenue was up 19.8% compared to the same quarter last year. During the same period in the prior year, the company earned $4.09 EPS. On average, sell-side analysts predict that Amgen Inc. will post 19.43 EPS for the current year.

Amgen Dividend Announcement

The firm also recently disclosed 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 is Thursday, May 16th. This represents a $9.00 annualized dividend and a dividend yield of 3.29%. Amgen’s dividend payout ratio is 72.06%.

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.