Amgen Inc. (NASDAQ:AMGN) Position Cut by KMG Fiduciary Partners LLC

KMG Fiduciary Partners LLC lowered its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 5.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,064 shares of the medical research company’s stock after selling 374 shares during the period. KMG Fiduciary Partners LLC’s holdings in Amgen were worth $1,841,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. State Street Corp raised its stake in shares of Amgen by 1.2% during the third quarter. State Street Corp now owns 29,317,018 shares of the medical research company’s stock valued at $9,446,236,000 after purchasing an additional 345,537 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Amgen by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 12,122,889 shares of the medical research company’s stock worth $3,893,771,000 after buying an additional 103,851 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Amgen by 2.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,532,629 shares of the medical research company’s stock worth $3,393,718,000 after buying an additional 251,876 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Amgen by 11.7% in the third quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock valued at $1,657,183,000 after acquiring an additional 538,545 shares in the last quarter. Finally, Pathway Financial Advisers LLC increased its stake in shares of Amgen by 33,125.4% during the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after acquiring an additional 4,446,757 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Up 1.0 %

Shares of Amgen stock opened at $272.11 on Friday. The stock has a 50-day simple moving average of $275.01 and a 200-day simple moving average of $307.49. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The firm has a market cap of $146.27 billion, a price-to-earnings ratio of 34.84, a P/E/G ratio of 2.68 and a beta of 0.56. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96.

Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. During the same period in the previous year, the firm posted $4.96 earnings per share. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. On average, equities research analysts expect that Amgen Inc. will post 19.57 earnings per share for the current fiscal year.

Amgen Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be issued a dividend of $2.38 per share. This is a positive change from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a yield of 3.50%. The ex-dividend date is Friday, February 14th. Amgen’s dividend payout ratio (DPR) is 115.24%.

Analyst Ratings Changes

AMGN has been the subject of a number of research analyst reports. William Blair restated an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. Robert W. Baird restated an “underperform” rating and issued a $215.00 price objective on shares of Amgen in a report on Wednesday, September 25th. Piper Sandler Companies reaffirmed an “overweight” rating and set a $310.00 target price on shares of Amgen in a report on Thursday, January 2nd. StockNews.com downgraded shares of Amgen from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. Finally, Sanford C. Bernstein began coverage on Amgen in a research note on Thursday, October 17th. They set an “outperform” rating and a $380.00 price objective for the company. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target 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.