Cambridge Advisors Inc. Reduces Stock Position in Amgen Inc. (NASDAQ:AMGN)

Cambridge Advisors Inc. trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 3.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,485 shares of the medical research company’s stock after selling 902 shares during the period. Amgen accounts for about 1.4% of Cambridge Advisors Inc.’s holdings, making the stock its 17th largest holding. Cambridge Advisors Inc.’s holdings in Amgen were worth $6,382,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in AMGN. State Street Corp lifted its stake in Amgen by 1.2% during the third quarter. State Street Corp now owns 29,317,018 shares of the medical research company’s stock worth $9,446,236,000 after purchasing an additional 345,537 shares during the last quarter. Geode Capital Management LLC raised its holdings in Amgen by 0.9% during the third quarter. Geode Capital Management LLC now owns 12,122,889 shares of the medical research company’s stock worth $3,893,771,000 after purchasing an additional 103,851 shares in the last quarter. Charles Schwab Investment Management Inc. lifted 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 during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Amgen by 11.7% in the 3rd 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 buying an additional 538,545 shares in the last quarter. Finally, Pathway Financial Advisers LLC grew its position in shares of Amgen by 33,125.4% in the 3rd 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 buying an additional 4,446,757 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Up 1.0 %

AMGN stock opened at $272.11 on Friday. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. 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 company has a market cap of $146.27 billion, a P/E ratio of 34.84, a P/E/G ratio of 2.68 and a beta of 0.56. The company’s 50-day moving average price is $273.95 and its 200 day moving average price is $307.22.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. The business had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company’s revenue was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.96 EPS. On average, research analysts expect that Amgen Inc. will post 19.57 earnings per share for the current fiscal 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 given a $2.38 dividend. The ex-dividend date of this dividend 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 dividend yield of 3.50%. Amgen’s payout ratio is currently 115.24%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on AMGN shares. Truist Financial reduced their price target on shares of Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $405.00 target price on shares of Amgen in a research report on Tuesday, October 22nd. TD Cowen lifted their price target on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Wells Fargo & Company decreased their price objective on Amgen from $335.00 to $280.00 and set an “equal weight” rating for the company in a report on Friday, January 10th. Finally, Citigroup cut their target price on shares of Amgen from $335.00 to $310.00 in a report on Wednesday, November 27th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently 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.