Freedom Day Solutions LLC Has $475,000 Stake in Amgen Inc. (NASDAQ:AMGN)

Freedom Day Solutions LLC reduced its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 3.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,672 shares of the medical research company’s stock after selling 63 shares during the quarter. Freedom Day Solutions LLC’s holdings in Amgen were worth $475,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Fuller & Thaler Asset Management Inc. grew its holdings in shares of Amgen by 1.7% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 11,658 shares of the medical research company’s stock valued at $3,133,000 after buying an additional 193 shares during the period. Diversified Trust Co raised its position in shares of Amgen by 76.8% during the fourth quarter. Diversified Trust Co now owns 37,695 shares of the medical research company’s stock worth $10,857,000 after purchasing an additional 16,376 shares during the period. Provence Wealth Management Group lifted its holdings in shares of Amgen by 11.9% during the 4th quarter. Provence Wealth Management Group now owns 1,445 shares of the medical research company’s stock valued at $416,000 after purchasing an additional 154 shares in the last quarter. Kinsale Capital Group Inc. grew its position in shares of Amgen by 33.0% in the 4th quarter. Kinsale Capital Group Inc. now owns 11,348 shares of the medical research company’s stock valued at $3,269,000 after purchasing an additional 2,814 shares during the period. Finally, Nicolet Advisory Services LLC increased its stake in Amgen by 4.4% during the 3rd quarter. Nicolet Advisory Services LLC now owns 2,805 shares of the medical research company’s stock worth $745,000 after purchasing an additional 117 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Performance

Shares of NASDAQ:AMGN traded down $2.91 on Thursday, hitting $306.50. The company had a trading volume of 2,139,341 shares, compared to its average volume of 2,835,861. The stock has a market cap of $164.42 billion, a price-to-earnings ratio of 43.79, a P/E/G ratio of 2.85 and a beta of 0.60. The stock has a 50 day moving average price of $284.28 and a 200 day moving average price of $285.28. Amgen Inc. has a 1-year low of $211.71 and a 1-year high of $329.72. The company has a current ratio of 1.42, a quick ratio of 0.98 and a debt-to-equity ratio of 11.96.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, beating the consensus estimate of $3.76 by $0.20. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The firm had revenue of $7.45 billion for the quarter, compared to analysts’ expectations of $7.45 billion. During the same period in the prior year, the firm earned $3.98 EPS. The business’s revenue was up 22.0% on a year-over-year basis. Analysts expect that Amgen Inc. will post 19.46 EPS for the current year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date is Thursday, May 16th. Amgen’s dividend payout ratio is 128.57%.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of Amgen stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $313.09, for a total value of $662,811.53. Following the completion of the sale, the senior vice president now owns 9,883 shares in the company, valued at approximately $3,094,268.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Truist Financial reissued a “buy” rating and set a $320.00 price objective on shares of Amgen in a research report on Friday, April 12th. Mizuho upped their price objective on Amgen from $223.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, May 9th. Raymond James started coverage on Amgen in a research report on Thursday, March 28th. They issued a “market perform” rating on the stock. Morgan Stanley upped their price target on Amgen from $271.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Friday, May 3rd. Finally, Royal Bank of Canada cut their price objective on shares of Amgen from $332.00 to $328.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $305.65.

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.