Amgen Inc. (NASDAQ:AMGN) Holdings Decreased by Elite Wealth Management Inc.

Elite Wealth Management Inc. decreased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 29.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,203 shares of the medical research company’s stock after selling 500 shares during the quarter. Elite Wealth Management Inc.’s holdings in Amgen were worth $346,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. TRUE Private Wealth Advisors grew its stake in Amgen by 38.5% in the fourth quarter. TRUE Private Wealth Advisors now owns 2,567 shares of the medical research company’s stock valued at $739,000 after purchasing an additional 714 shares in the last quarter. Scissortail Wealth Management LLC bought a new stake in shares of Amgen during the 4th quarter worth about $1,009,000. Tyche Wealth Partners LLC bought a new stake in shares of Amgen during the 4th quarter worth about $1,467,000. Arbor Trust Wealth Advisors LLC boosted its stake in shares of Amgen by 2.0% during the 4th quarter. Arbor Trust Wealth Advisors LLC now owns 1,824 shares of the medical research company’s stock worth $525,000 after acquiring an additional 35 shares in the last quarter. Finally, HealthInvest Partners AB bought a new stake in shares of Amgen during the 4th quarter worth about $4,615,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Trading Down 0.2 %

AMGN traded down $0.54 during mid-day trading on Wednesday, reaching $265.10. The stock had a trading volume of 966,578 shares, compared to its average volume of 2,844,470. Amgen Inc. has a 52 week low of $211.71 and a 52 week high of $329.72. The company has a debt-to-equity ratio of 10.14, a quick ratio of 1.13 and a current ratio of 1.65. The stock has a market capitalization of $142.07 billion, a P/E ratio of 21.27, a P/E/G ratio of 2.47 and a beta of 0.58. The firm’s fifty day simple moving average is $278.62 and its two-hundred day simple moving average is $281.49.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.66 by $0.05. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The business had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.13 billion. During the same period last year, the company earned $4.09 EPS. The firm’s revenue was up 19.8% on a year-over-year basis. On average, equities analysts predict that Amgen Inc. will post 19.47 EPS for the current year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be given a $2.25 dividend. The ex-dividend date is Thursday, May 16th. This represents a $9.00 annualized dividend and a dividend yield of 3.39%. Amgen’s dividend payout ratio is currently 72.06%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AMGN. BMO Capital Markets raised Amgen from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $286.00 to $326.00 in a research report on Tuesday, December 19th. Raymond James started coverage on Amgen in a research note on Thursday, March 28th. They issued a “market perform” rating on the stock. UBS Group lowered their price objective on Amgen from $315.00 to $314.00 and set a “neutral” rating on the stock in a research note on Monday, January 29th. Truist Financial reiterated a “buy” rating and issued a $320.00 price objective on shares of Amgen in a research note on Friday, April 12th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $329.00 price objective on shares of Amgen in a research note on Wednesday, April 3rd. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $295.30.

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.