Revolve Wealth Partners LLC Sells 350 Shares of Amgen Inc. (NASDAQ:AMGN)

Revolve Wealth Partners LLC lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 2.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,323 shares of the medical research company’s stock after selling 350 shares during the quarter. Amgen comprises 0.4% of Revolve Wealth Partners LLC’s portfolio, making the stock its 29th largest holding. Revolve Wealth Partners LLC’s holdings in Amgen were worth $4,254,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Bank of America restated an “underperform” rating and issued a $256.00 price target on shares of Amgen in a research report on Tuesday, December 10th. TD Cowen boosted their price target on shares of Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a report on Monday, October 21st. William Blair reaffirmed an “outperform” rating on shares of Amgen in a report on Tuesday, November 12th. Jefferies Financial Group reissued a “buy” rating and issued a $380.00 target price on shares of Amgen in a research note on Tuesday, November 12th. Finally, Piper Sandler cut their price target on shares of Amgen from $344.00 to $310.00 and set an “overweight” rating for the company in a research note on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amgen currently has a consensus rating of “Hold” and an average target price of $314.00.

Amgen Stock Performance

Shares of AMGN stock opened at $282.95 on Tuesday. The stock has a market cap of $152.09 billion, a PE ratio of 36.23, a price-to-earnings-growth ratio of 2.78 and a beta of 0.56. The stock has a 50-day moving average of $271.39 and a 200-day moving average of $305.81. 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 Inc. has a one year low of $253.30 and a one year high of $346.85.

Amgen (NASDAQ:AMGN) last issued its earnings results 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 the consensus estimate of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.96 earnings per share. As a group, sell-side analysts expect that Amgen Inc. will post 19.56 earnings per share for the current year.

Amgen Increases Dividend

The firm 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. The ex-dividend date is Friday, February 14th. 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 3.36%. Amgen’s payout ratio is currently 115.24%.

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.