New York Life Investment Management LLC Lowers Holdings in Amgen Inc. (NASDAQ:AMGN)

New York Life Investment Management LLC lowered its position in shares of Amgen Inc. (NASDAQ:AMGN) by 1.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 76,416 shares of the medical research company’s stock after selling 798 shares during the quarter. New York Life Investment Management LLC’s holdings in Amgen were worth $22,009,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in AMGN. OFI Invest Asset Management acquired a new stake in shares of Amgen during the 3rd quarter valued at approximately $26,000. Briaud Financial Planning Inc purchased a new stake in Amgen during the third quarter worth $26,000. BOK Financial Private Wealth Inc. purchased a new position in shares of Amgen in the fourth quarter valued at $29,000. Providence Capital Advisors LLC acquired a new position in shares of Amgen during the 3rd quarter worth $30,000. Finally, Planned Solutions Inc. acquired a new stake in Amgen in the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AMGN. Morgan Stanley cut their target price on shares of Amgen from $281.00 to $278.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 7th. The Goldman Sachs Group boosted their price target on Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. 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. StockNews.com downgraded shares of Amgen from a “buy” rating to a “hold” rating in a research note on Thursday, March 28th. Finally, Leerink Partnrs lowered shares of Amgen from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 7th. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $297.40.

Amgen Stock Performance

AMGN stock traded up $3.43 during midday trading on Wednesday, reaching $277.37. The company had a trading volume of 2,322,902 shares, compared to its average volume of 2,810,882. The firm has a market capitalization of $148.78 billion, a PE ratio of 22.08, a P/E/G ratio of 2.67 and a beta of 0.58. Amgen Inc. has a fifty-two week low of $211.71 and a fifty-two week high of $329.72. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 10.14. The stock has a 50 day moving average price of $274.76 and a 200 day moving average price of $281.37.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.66 by $0.05. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The firm had revenue of $8.20 billion during the quarter, compared to analysts’ expectations of $8.13 billion. During the same quarter in the prior year, the firm earned $4.09 EPS. Amgen’s quarterly revenue was up 19.8% on a year-over-year basis. Analysts anticipate that Amgen Inc. will post 19.43 earnings per share for the current year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be paid a dividend of $2.25 per share. The ex-dividend date is Thursday, May 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.24%. Amgen’s dividend payout ratio is presently 72.06%.

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.