SeaBridge Investment Advisors LLC Sells 2,865 Shares of Amgen Inc. (NASDAQ:AMGN)

SeaBridge Investment Advisors LLC reduced its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 11.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 21,934 shares of the medical research company’s stock after selling 2,865 shares during the period. Amgen makes up 1.2% of SeaBridge Investment Advisors LLC’s investment portfolio, making the stock its 22nd biggest position. SeaBridge Investment Advisors LLC’s holdings in Amgen were worth $5,717,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in AMGN. Capital Performance Advisors LLP purchased a new position in Amgen in the 3rd quarter worth $25,000. Legacy Investment Solutions LLC purchased a new position in Amgen in the 3rd quarter worth $29,000. Matrix Trust Co purchased a new position in Amgen in the 3rd quarter worth $36,000. Heck Capital Advisors LLC purchased a new position in Amgen in the 4th quarter worth $36,000. Finally, Livelsberger Financial Advisory purchased a new position in Amgen in the 3rd quarter worth $56,000. 76.50% of the stock is owned by institutional investors.

Amgen Trading Up 0.5 %

Shares of NASDAQ AMGN opened at $285.42 on Friday. The firm’s 50 day moving average price is $271.06 and its 200-day moving average price is $304.53. The company has a market cap 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 52-week low of $253.30 and a 52-week high of $346.85. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32.

Amgen (NASDAQ:AMGN) last issued its 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 net margin of 13.00% and a return on equity of 168.35%. The company had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. During the same quarter last year, the company posted $4.96 earnings per share. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. On average, equities research analysts expect that Amgen Inc. will post 19.56 EPS for the current fiscal year.

Amgen Increases Dividend

The business also recently announced 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 represents a $9.52 annualized dividend and a yield of 3.34%. This is a boost from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio (DPR) is currently 115.24%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Piper Sandler Companies reiterated an “overweight” rating and issued a $310.00 target price on shares of Amgen in a research report on Thursday, January 2nd. Redburn Partners decreased their price objective on shares of Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Barclays boosted their price objective on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Sanford C. Bernstein started coverage on shares of Amgen in a research report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price objective on the stock. Finally, UBS Group decreased their price objective on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target 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.