Signet Financial Management LLC Lowers Stake in Amgen Inc. (NASDAQ:AMGN)

Signet Financial Management LLC lessened its holdings in Amgen Inc. (NASDAQ:AMGN) by 4.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,267 shares of the medical research company’s stock after selling 347 shares during the period. Signet Financial Management LLC’s holdings in Amgen were worth $1,894,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. PFW Advisors LLC acquired a new stake in Amgen in the fourth quarter valued at approximately $1,105,000. Miracle Mile Advisors LLC lifted its position in shares of Amgen by 3.0% during the 4th quarter. Miracle Mile Advisors LLC now owns 6,016 shares of the medical research company’s stock valued at $1,568,000 after buying an additional 176 shares in the last quarter. Horizon Wealth Management LLC grew its stake in Amgen by 13.3% in the 4th quarter. Horizon Wealth Management LLC now owns 1,217 shares of the medical research company’s stock valued at $317,000 after acquiring an additional 143 shares during the period. Burns J W & Co. Inc. NY increased its holdings in Amgen by 0.5% in the 4th quarter. Burns J W & Co. Inc. NY now owns 22,349 shares of the medical research company’s stock worth $5,825,000 after acquiring an additional 117 shares in the last quarter. Finally, Elevated Capital Advisors LLC increased its holdings in Amgen by 8.1% in the 4th quarter. Elevated Capital Advisors LLC now owns 1,664 shares of the medical research company’s stock worth $434,000 after acquiring an additional 125 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Trading Up 3.0 %

AMGN stock traded up $7.96 during mid-day trading on Monday, hitting $270.19. 3,364,979 shares of the company were exchanged, compared to its average volume of 3,085,018. The business has a fifty day simple moving average of $279.10 and a 200-day simple moving average of $308.66. The firm has a market capitalization of $145.24 billion, a P/E ratio of 34.60, a PEG ratio of 2.91 and a beta of 0.56. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. 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 data 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 firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter last year, the company posted $4.96 EPS. On average, equities research analysts predict that Amgen Inc. will post 19.53 earnings per share for the current fiscal year.

Amgen Increases Dividend

The company 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 dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 3.52%. This is a boost from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s dividend payout ratio (DPR) is 121.90%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AMGN. Piper Sandler dropped their target price on shares of Amgen from $344.00 to $310.00 and set an “overweight” rating on the stock in a research report on Thursday, January 2nd. Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 price objective on shares of Amgen in a report on Tuesday, November 12th. Wolfe Research started coverage on Amgen in a report on Friday, November 15th. They set a “peer perform” rating for the company. Dbs Bank raised Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Redburn Partners reduced their price objective on Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price 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.