Amgen Inc. (NASDAQ:AMGN) Shares Sold by Cohen Investment Advisors LLC

Cohen Investment Advisors LLC trimmed its position in Amgen Inc. (NASDAQ:AMGN) by 7.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,549 shares of the medical research company’s stock after selling 724 shares during the quarter. Amgen comprises 1.5% of Cohen Investment Advisors LLC’s investment portfolio, making the stock its 29th biggest position. Cohen Investment Advisors LLC’s holdings in Amgen were worth $2,489,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in AMGN. Ascent Group LLC raised its holdings in shares of Amgen by 0.3% in the second quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock worth $3,421,000 after acquiring an additional 31 shares during the last quarter. Cadinha & Co. LLC raised its stake in Amgen by 0.6% during the third quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock worth $1,678,000 after purchasing an additional 32 shares during the period. Lansing Street Advisors grew its holdings in shares of Amgen by 1.3% during the 3rd quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock worth $832,000 after purchasing an additional 32 shares during the period. Unionview LLC raised its position in Amgen by 3.8% in the third quarter. Unionview LLC now owns 876 shares of the medical research company’s stock valued at $282,000 after purchasing an additional 32 shares during the period. Finally, Traveka Wealth LLC lifted its position in shares of Amgen by 4.3% during the third quarter. Traveka Wealth LLC now owns 807 shares of the medical research company’s stock worth $260,000 after purchasing an additional 33 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMGN has been the subject of several research analyst reports. Jefferies Financial Group reissued a “buy” rating and issued a $380.00 price objective on shares of Amgen in a report on Tuesday, November 12th. Piper Sandler Companies reissued an “overweight” rating and issued a $310.00 price target on shares of Amgen in a research note on Thursday, January 2nd. Redburn Partners dropped their target price on Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Royal Bank of Canada dropped their target price on shares of Amgen from $360.00 to $330.00 and set an “outperform” rating on the stock in a report on Wednesday, November 27th. Finally, William Blair reaffirmed an “outperform” rating on shares of Amgen in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Amgen presently has a consensus rating of “Hold” and a consensus target price of $314.91.

Amgen Price Performance

AMGN opened at $269.43 on Friday. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The company has a market capitalization of $144.83 billion, a price-to-earnings ratio of 34.50, a P/E/G ratio of 2.68 and a beta of 0.56. The firm’s fifty day moving average price is $276.06 and its two-hundred day moving average price is $307.76. 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 released its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. The business had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period last year, the business posted $4.96 earnings per share. As a group, analysts anticipate that Amgen Inc. will post 19.57 earnings per share for the current fiscal 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 paid a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date is Friday, February 14th. This is a boost from Amgen’s previous quarterly dividend of $2.25. Amgen’s payout ratio is currently 115.24%.

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.