180 Wealth Advisors LLC Cuts Position in Amgen Inc. (NASDAQ:AMGN)

180 Wealth Advisors LLC lowered its stake in Amgen Inc. (NASDAQ:AMGN) by 1.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,966 shares of the medical research company’s stock after selling 88 shares during the period. 180 Wealth Advisors LLC’s holdings in Amgen were worth $2,337,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new position in Amgen in the 3rd quarter valued at approximately $25,000. Legacy Investment Solutions LLC purchased a new position in shares of Amgen during the 3rd quarter valued at $29,000. Hershey Financial Advisers LLC bought a new position in Amgen in the 2nd quarter worth approximately $30,000. Matrix Trust Co bought a new position in Amgen during the third quarter valued at approximately $36,000. Finally, Livelsberger Financial Advisory purchased a new position in shares of Amgen in the third quarter valued at $56,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Up 3.0 %

Amgen stock opened at $270.19 on Tuesday. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The firm has a 50 day moving average price of $278.16 and a 200 day moving average price of $308.35. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The company has a market capitalization of $145.24 billion, a PE ratio of 34.60, a price-to-earnings-growth ratio of 2.91 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.11 by $0.47. The firm had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. Amgen’s revenue was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.96 EPS. Research analysts expect that Amgen Inc. will post 19.53 earnings per share for the current year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be given a $2.38 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a yield of 3.52%. This is a positive change from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio (DPR) is currently 121.90%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on AMGN shares. TD Cowen lifted their price target on shares of Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research note on Monday, October 21st. UBS Group dropped their price objective on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Wells Fargo & Company decreased their price target on shares of Amgen from $335.00 to $280.00 and set an “equal weight” rating for the company in a research report on Friday. Piper Sandler Companies reissued an “overweight” rating and set a $310.00 target price on shares of Amgen in a research report on Thursday, January 2nd. Finally, William Blair reaffirmed an “outperform” rating on shares of Amgen in a report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $314.91.

Amgen Company 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.