Amgen Inc. (NASDAQ:AMGN) Shares Sold by Arthur M. Cohen & Associates LLC

Arthur M. Cohen & Associates LLC lessened its position in Amgen Inc. (NASDAQ:AMGN) by 4.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,566 shares of the medical research company’s stock after selling 345 shares during the period. Arthur M. Cohen & Associates LLC’s holdings in Amgen were worth $1,972,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Capital Performance Advisors LLP purchased a new position in shares of Amgen during the 3rd quarter worth $25,000. Legacy Investment Solutions LLC acquired a new position in Amgen in the third quarter valued at $29,000. Hershey Financial Advisers LLC purchased a new position in Amgen during the second quarter worth about $30,000. Matrix Trust Co acquired a new stake in Amgen in the 3rd quarter worth about $36,000. Finally, Livelsberger Financial Advisory purchased a new stake in Amgen in the 3rd quarter valued at about $56,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Bank of America reiterated an “underperform” rating and set a $256.00 price objective on shares of Amgen in a report on Tuesday, December 10th. Wells Fargo & Company cut their price target on shares of Amgen from $335.00 to $280.00 and set an “equal weight” rating on the stock in a research note on Friday, January 10th. Truist Financial lowered their price objective on shares of Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Citigroup cut their target price on Amgen from $335.00 to $310.00 in a research report on Wednesday, November 27th. Finally, UBS Group lowered their price target on Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Amgen currently has a consensus rating of “Hold” and a consensus target price of $314.91.

Amgen Stock Performance

NASDAQ:AMGN opened at $272.11 on Friday. The firm has a 50-day moving average of $275.01 and a two-hundred day moving average of $307.49. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The stock has a market cap of $146.27 billion, a P/E ratio of 34.84, a PEG ratio of 2.68 and a beta of 0.56. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. During the same quarter in the prior year, the business posted $4.96 earnings per share. Amgen’s revenue for the quarter was up 23.2% on a year-over-year basis. On average, research analysts expect that Amgen Inc. will post 19.57 earnings per share for the current fiscal year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be issued a $2.38 dividend. The ex-dividend date is Friday, February 14th. This is a boost from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a yield of 3.50%. Amgen’s dividend payout ratio is currently 115.24%.

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.