Money Concepts Capital Corp Decreases Stake in Amgen Inc. (NASDAQ:AMGN)

Money Concepts Capital Corp cut its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 2.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 9,113 shares of the medical research company’s stock after selling 237 shares during the quarter. Money Concepts Capital Corp’s holdings in Amgen were worth $2,375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Confluence Wealth Services Inc. lifted its position in Amgen by 3.6% during the 4th quarter. Confluence Wealth Services Inc. now owns 2,519 shares of the medical research company’s stock worth $700,000 after acquiring an additional 87 shares during the period. Lion Street Advisors LLC raised its stake in shares of Amgen by 19.8% in the fourth quarter. Lion Street Advisors LLC now owns 2,726 shares of the medical research company’s stock worth $711,000 after purchasing an additional 450 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Amgen by 23.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 495,148 shares of the medical research company’s stock worth $129,945,000 after purchasing an additional 92,756 shares during the period. Virginia Wealth Management Group Inc. boosted its position in Amgen by 0.7% in the fourth quarter. Virginia Wealth Management Group Inc. now owns 11,464 shares of the medical research company’s stock valued at $2,988,000 after buying an additional 78 shares during the last quarter. Finally, Weaver Capital Management LLC increased its holdings in Amgen by 1.3% in the 4th quarter. Weaver Capital Management LLC now owns 6,650 shares of the medical research company’s stock worth $1,733,000 after buying an additional 83 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on AMGN shares. StockNews.com cut shares of Amgen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. UBS Group lowered their price target on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Truist Financial reduced their price objective on Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft lowered their target price on Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $405.00 price target on shares of Amgen in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $314.00.

Amgen Trading Up 6.5 %

Shares of AMGN opened at $307.81 on Thursday. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The stock has a market cap of $165.46 billion, a PE ratio of 39.41, a price-to-earnings-growth ratio of 2.87 and a beta of 0.56. The firm’s fifty day moving average is $271.14 and its two-hundred day moving average is $303.52. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, beating the consensus estimate of $5.04 by $0.27. Amgen had a return on equity of 168.35% and a net margin of 13.00%. Research analysts forecast that Amgen Inc. will post 19.56 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 issued a $2.38 dividend. The ex-dividend date is Friday, February 14th. This is a boost from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 dividend on an annualized basis and a yield of 3.09%. Amgen’s dividend 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.