Douglas Lane & Associates LLC Has $4.50 Million Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Douglas Lane & Associates LLC decreased its stake in Amgen Inc. (NASDAQ:AMGN) by 2.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,401 shares of the medical research company’s stock after selling 344 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Amgen were worth $4,500,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Provence Wealth Management Group boosted its stake in Amgen by 11.9% in the 4th quarter. Provence Wealth Management Group now owns 1,445 shares of the medical research company’s stock worth $416,000 after purchasing an additional 154 shares during the period. Kinsale Capital Group Inc. grew its position in Amgen by 33.0% in the 4th quarter. Kinsale Capital Group Inc. now owns 11,348 shares of the medical research company’s stock worth $3,269,000 after purchasing an additional 2,814 shares during the last quarter. Global Wealth Management Investment Advisory Inc. increased its holdings in shares of Amgen by 2.4% during the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 4,733 shares of the medical research company’s stock worth $1,363,000 after purchasing an additional 109 shares during the period. Valley Brook Capital Group Inc. lifted its stake in shares of Amgen by 7.0% in the fourth quarter. Valley Brook Capital Group Inc. now owns 4,730 shares of the medical research company’s stock valued at $1,362,000 after buying an additional 310 shares during the period. Finally, Evergreen Wealth Management LLC grew its position in Amgen by 1.7% during the fourth quarter. Evergreen Wealth Management LLC now owns 4,892 shares of the medical research company’s stock worth $1,409,000 after buying an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

AMGN traded up $3.73 during midday trading on Tuesday, reaching $328.95. The company had a trading volume of 2,434,234 shares, compared to its average volume of 2,638,375. Amgen Inc. has a 12-month low of $243.46 and a 12-month high of $346.85. The business has a 50-day moving average price of $316.68 and a two-hundred day moving average price of $298.40. The stock has a market cap of $176.46 billion, a PE ratio of 46.99, a P/E/G ratio of 2.78 and a beta of 0.58. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, topping the consensus estimate of $4.86 by $0.11. The company had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The firm’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.00 EPS. On average, sell-side analysts expect that Amgen Inc. will post 19.5 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 6th. Investors of record on Friday, August 16th will be paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend is Friday, August 16th. Amgen’s payout ratio is currently 128.57%.

Wall Street Analysts Forecast Growth

Several research firms have commented on AMGN. Royal Bank of Canada upped their price target on Amgen from $328.00 to $332.00 and gave the company an “outperform” rating in a report on Friday, June 14th. Morgan Stanley dropped their price objective on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research note on Thursday, July 11th. Argus raised their price target on shares of Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Barclays upgraded Amgen from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $230.00 to $300.00 in a research report on Friday, May 3rd. Finally, Truist Financial reiterated a “buy” rating and set a $320.00 target price on shares of Amgen in a research report on Friday, April 12th. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Amgen currently has an average rating of “Moderate Buy” and an average price target of $312.63.

Amgen Company 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.