Park Place Capital Corp Cuts Stock Position in Amgen Inc. (NASDAQ:AMGN)

Park Place Capital Corp decreased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 6.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,925 shares of the medical research company’s stock after selling 125 shares during the period. Park Place Capital Corp’s holdings in Amgen were worth $502,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. XTX Topco Ltd purchased a new stake in Amgen in the 2nd quarter valued at $661,000. Certified Advisory Corp raised its stake in Amgen by 16.0% during the second quarter. Certified Advisory Corp now owns 1,460 shares of the medical research company’s stock worth $456,000 after purchasing an additional 201 shares during the period. Steel Grove Capital Advisors LLC raised its stake in Amgen by 5.8% during the second quarter. Steel Grove Capital Advisors LLC now owns 1,357 shares of the medical research company’s stock worth $424,000 after purchasing an additional 74 shares during the period. Public Sector Pension Investment Board grew its stake in shares of Amgen by 74.2% in the 2nd quarter. Public Sector Pension Investment Board now owns 20,647 shares of the medical research company’s stock valued at $6,451,000 after buying an additional 8,795 shares during the period. Finally, Evergreen Capital Management LLC increased its holdings in shares of Amgen by 2.5% during the 2nd quarter. Evergreen Capital Management LLC now owns 9,057 shares of the medical research company’s stock worth $2,830,000 after buying an additional 225 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Trading Down 0.0 %

Shares of Amgen stock opened at $274.71 on Wednesday. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The company’s 50-day simple moving average is $272.47 and its 200-day simple moving average is $306.67. The firm has a market cap of $147.66 billion, a price-to-earnings ratio of 35.16, a price-to-earnings-growth ratio of 2.78 and a beta of 0.56. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating the consensus estimate of $5.11 by $0.47. The firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter last year, the business earned $4.96 earnings per share. As a group, equities research analysts anticipate that Amgen Inc. will post 19.57 earnings per share for the current year.

Amgen Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be paid a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.47%. This is a boost from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. Amgen’s dividend payout ratio is presently 115.24%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on AMGN shares. Deutsche Bank Aktiengesellschaft lowered their price objective on Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Bank of America restated an “underperform” rating and issued a $256.00 price objective on shares of Amgen in a report on Tuesday, December 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $405.00 target price on shares of Amgen in a research note on Tuesday, October 22nd. Jefferies Financial Group restated a “buy” rating and issued a $380.00 price objective on shares of Amgen in a report on Tuesday, November 12th. Finally, Barclays lifted their target price on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $314.91.

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.