Amgen Inc. (NASDAQ:AMGN) Stake Reduced by Great Diamond Partners LLC

Great Diamond Partners LLC trimmed its stake in Amgen Inc. (NASDAQ:AMGN) by 1.6% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 14,202 shares of the medical research company’s stock after selling 225 shares during the quarter. Amgen makes up about 1.0% of Great Diamond Partners LLC’s investment portfolio, making the stock its 26th largest holding. Great Diamond Partners LLC’s holdings in Amgen were worth $3,702,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. BTC Capital Management Inc. grew its holdings in Amgen by 6.5% in the 4th quarter. BTC Capital Management Inc. now owns 6,190 shares of the medical research company’s stock worth $1,613,000 after buying an additional 378 shares in the last quarter. Hamilton Point Investment Advisors LLC increased its holdings in shares of Amgen by 1.5% during the fourth quarter. Hamilton Point Investment Advisors LLC now owns 35,214 shares of the medical research company’s stock valued at $9,178,000 after purchasing an additional 532 shares during the period. Keudell Morrison Wealth Management raised its stake in shares of Amgen by 12.3% during the fourth quarter. Keudell Morrison Wealth Management now owns 4,543 shares of the medical research company’s stock valued at $1,184,000 after purchasing an additional 497 shares in the last quarter. Coastwise Capital Group LLC lifted its holdings in Amgen by 2.9% in the fourth quarter. Coastwise Capital Group LLC now owns 2,312 shares of the medical research company’s stock worth $603,000 after purchasing an additional 65 shares during the period. Finally, Evernest Financial Advisors LLC grew its position in Amgen by 2.3% in the 4th quarter. Evernest Financial Advisors LLC now owns 2,725 shares of the medical research company’s stock valued at $710,000 after buying an additional 62 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Trading Up 0.5 %

Shares of NASDAQ:AMGN opened at $285.42 on Friday. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The stock has a market capitalization of $153.42 billion, a PE ratio of 36.55, a P/E/G ratio of 2.85 and a beta of 0.56. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The firm has a fifty day moving average price of $271.24 and a 200 day moving average price of $304.84.

Amgen (NASDAQ:AMGN) last released its quarterly 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. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. During the same quarter in the prior year, the company posted $4.96 EPS. The firm’s revenue was up 23.2% on a year-over-year basis. Analysts expect that Amgen Inc. will post 19.56 EPS 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 issued a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.34%. The ex-dividend date is Friday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio (DPR) is 115.24%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $324.00 price target on shares of Amgen in a research note on Friday, January 24th. Deutsche Bank Aktiengesellschaft cut their target price on Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Truist Financial lowered their price target on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. 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, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $405.00 target price on shares of Amgen in a report on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, twelve have given 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 stock presently has a consensus rating of “Hold” and a consensus target price of $314.00.

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.