Amgen Inc. (NASDAQ:AMGN) Position Trimmed by Romano Brothers AND Company

Romano Brothers AND Company trimmed its stake in Amgen Inc. (NASDAQ:AMGN) by 0.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,610 shares of the medical research company’s stock after selling 47 shares during the quarter. Romano Brothers AND Company’s holdings in Amgen were worth $5,372,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Kelly Financial Services LLC purchased a new stake in Amgen in the 4th quarter worth approximately $3,784,000. HF Advisory Group LLC increased its stake in shares of Amgen by 7.8% in the fourth quarter. HF Advisory Group LLC now owns 2,113 shares of the medical research company’s stock worth $551,000 after acquiring an additional 152 shares during the last quarter. IAM Advisory LLC raised its holdings in shares of Amgen by 1.6% during the fourth quarter. IAM Advisory LLC now owns 7,128 shares of the medical research company’s stock worth $1,858,000 after acquiring an additional 109 shares in the last quarter. Astoria Portfolio Advisors LLC. boosted its position in Amgen by 8.7% during the fourth quarter. Astoria Portfolio Advisors LLC. now owns 2,834 shares of the medical research company’s stock valued at $757,000 after purchasing an additional 226 shares during the last quarter. Finally, Financial Management Professionals Inc. grew its stake in Amgen by 6.5% in the fourth quarter. Financial Management Professionals Inc. now owns 1,430 shares of the medical research company’s stock valued at $373,000 after purchasing an additional 87 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Trading Up 1.0 %

Shares of AMGN opened at $272.11 on Friday. The stock’s 50-day moving average price is $273.95 and its 200 day moving average price is $307.22. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The firm has a market capitalization of $146.27 billion, a price-to-earnings ratio of 34.84, a P/E/G ratio of 2.68 and a beta of 0.56.

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

Amgen Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be given a dividend of $2.38 per share. This is a positive change from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a dividend yield of 3.50%. The ex-dividend date is Friday, February 14th. Amgen’s payout ratio is 115.24%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on AMGN shares. Royal Bank of Canada reduced their price target on Amgen from $360.00 to $330.00 and set an “outperform” rating for the company in a report on Wednesday, November 27th. Bank of America restated an “underperform” rating and set a $256.00 price target on shares of Amgen in a report on Tuesday, December 10th. Wells Fargo & Company reduced their price objective on shares of Amgen from $335.00 to $280.00 and set an “equal weight” rating for the company in a research note on Friday, January 10th. William Blair restated an “outperform” rating on shares of Amgen in a report on Tuesday, November 12th. Finally, Truist Financial decreased their price target on Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Amgen has a consensus rating of “Hold” and an average target price of $314.91.

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.