Profit Investment Management LLC Lowers Holdings in Amgen Inc. (NASDAQ:AMGN)

Profit Investment Management LLC reduced its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,270 shares of the medical research company’s stock after selling 81 shares during the quarter. Profit Investment Management LLC’s holdings in Amgen were worth $852,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of AMGN. Ascent Group LLC boosted its holdings in Amgen by 0.3% during the second quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock worth $3,421,000 after buying an additional 31 shares in the last quarter. Cadinha & Co. LLC boosted its stake in shares of Amgen by 0.6% during the 3rd quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock worth $1,678,000 after acquiring an additional 32 shares in the last quarter. Lansing Street Advisors grew its position in shares of Amgen by 1.3% during the 3rd quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock valued at $832,000 after acquiring an additional 32 shares during the period. Unionview LLC increased its stake in shares of Amgen by 3.8% in the 3rd quarter. Unionview LLC now owns 876 shares of the medical research company’s stock valued at $282,000 after purchasing an additional 32 shares in the last quarter. Finally, Traveka Wealth LLC raised its holdings in Amgen by 4.3% in the 3rd quarter. Traveka Wealth LLC now owns 807 shares of the medical research company’s stock worth $260,000 after purchasing an additional 33 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMGN has been the subject of a number of recent analyst reports. Robert W. Baird restated an “underperform” rating and issued a $215.00 price objective on shares of Amgen in a research report on Wednesday, September 25th. Wolfe Research began coverage on shares of Amgen in a research report on Friday, November 15th. They set a “peer perform” rating for the company. Bank of America reiterated an “underperform” rating and issued a $256.00 target price on shares of Amgen in a research report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Finally, Leerink Partners lowered their price objective on Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $314.91.

Amgen Stock Performance

NASDAQ AMGN opened at $269.43 on Friday. The stock has a fifty day simple moving average of $276.06 and a 200-day simple moving average of $307.76. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The stock has a market cap of $144.83 billion, a PE ratio of 34.50, a P/E/G ratio of 2.68 and a beta of 0.56. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The business 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 business’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period last year, the business earned $4.96 earnings per share. Equities analysts anticipate that Amgen Inc. will post 19.57 earnings per share for the current year.

Amgen Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be paid a $2.38 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.53%. Amgen’s payout ratio is presently 115.24%.

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.