Bar Harbor Wealth Management Sells 173 Shares of Amgen Inc. (NASDAQ:AMGN)

Bar Harbor Wealth Management decreased its position in Amgen Inc. (NASDAQ:AMGN) by 6.4% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 2,511 shares of the medical research company’s stock after selling 173 shares during the period. Bar Harbor Wealth Management’s holdings in Amgen were worth $654,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of AMGN. Pathway Financial Advisers LLC lifted its position in shares of Amgen by 33,125.4% in the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock worth $1,437,115,000 after purchasing an additional 4,446,757 shares in the last quarter. International Assets Investment Management LLC lifted its position in Amgen by 6,812.4% during the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock worth $8,130,610,000 after buying an additional 2,486,882 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Amgen by 561.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock worth $496,117,000 after buying an additional 1,306,982 shares during the last quarter. Granite Bay Wealth Management LLC grew its holdings in shares of Amgen by 9,058.1% in the 2nd quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock valued at $223,897,000 after acquiring an additional 748,200 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in Amgen by 40.7% during the fourth quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company’s stock worth $609,526,000 after acquiring an additional 676,598 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on AMGN shares. Jefferies Financial Group restated a “buy” rating and issued a $380.00 price target on shares of Amgen in a research note on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. StockNews.com downgraded shares of Amgen from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Leerink Partners dropped their target price on shares of Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Finally, Piper Sandler cut their target price on shares of Amgen from $344.00 to $310.00 and set an “overweight” rating for the company in a research note on Thursday, January 2nd. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $314.91.

Amgen Stock Performance

NASDAQ:AMGN opened at $270.19 on Tuesday. 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 Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The company has a market cap of $145.24 billion, a price-to-earnings ratio of 34.60, a PEG ratio of 2.91 and a beta of 0.56. The stock has a fifty day moving average price of $278.16 and a 200-day moving average price of $308.35.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. The firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period in the prior year, the company posted $4.96 earnings per share. As a group, equities analysts anticipate that Amgen Inc. will post 19.53 EPS for the current fiscal year.

Amgen Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be given a dividend of $2.38 per share. This is an increase from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a yield of 3.52%. The ex-dividend date is Friday, February 14th. Amgen’s payout ratio is currently 121.90%.

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.