Raab & Moskowitz Asset Management LLC Sells 136 Shares of Amgen Inc. (NASDAQ:AMGN)

Raab & Moskowitz Asset Management LLC reduced its stake in Amgen Inc. (NASDAQ:AMGN) by 15.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 773 shares of the medical research company’s stock after selling 136 shares during the quarter. Raab & Moskowitz Asset Management LLC’s holdings in Amgen were worth $223,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. KFA Private Wealth Group LLC lifted its position in shares of Amgen by 7.2% in the 4th quarter. KFA Private Wealth Group LLC now owns 1,428 shares of the medical research company’s stock worth $411,000 after purchasing an additional 96 shares during the period. Kovack Advisors Inc. lifted its position in shares of Amgen by 5.0% in the 4th quarter. Kovack Advisors Inc. now owns 2,983 shares of the medical research company’s stock worth $859,000 after purchasing an additional 141 shares during the period. Callan Capital LLC lifted its position in shares of Amgen by 5.8% in the 4th quarter. Callan Capital LLC now owns 2,506 shares of the medical research company’s stock worth $722,000 after purchasing an additional 137 shares during the period. Bahl & Gaynor Inc. lifted its position in shares of Amgen by 36.2% in the 4th quarter. Bahl & Gaynor Inc. now owns 606,580 shares of the medical research company’s stock worth $174,707,000 after purchasing an additional 161,157 shares during the period. Finally, O Brien Greene & Co. Inc lifted its position in shares of Amgen by 4.4% in the 4th quarter. O Brien Greene & Co. Inc now owns 29,322 shares of the medical research company’s stock worth $8,445,000 after purchasing an additional 1,224 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Performance

AMGN stock traded up $0.60 during midday trading on Friday, hitting $269.98. 2,436,959 shares of the stock traded hands, compared to its average volume of 2,035,139. The firm has a market cap of $144.81 billion, a P/E ratio of 21.62, a PEG ratio of 2.60 and a beta of 0.58. The company has a debt-to-equity ratio of 10.14, a current ratio of 1.65 and a quick ratio of 1.13. The stock’s fifty day simple moving average is $275.10 and its 200-day simple moving average is $281.45. Amgen Inc. has a 1-year low of $211.71 and a 1-year high of $329.72.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.66 by $0.05. The company had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.13 billion. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The firm’s revenue was up 19.8% on a year-over-year basis. During the same quarter last year, the business earned $4.09 earnings per share. On average, analysts expect that Amgen Inc. will post 19.43 earnings per share for the current year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s payout ratio is 72.06%.

Wall Street Analyst Weigh In

A number of research firms recently commented on AMGN. Raymond James began coverage on shares of Amgen in a research report on Thursday, March 28th. They set a “market perform” rating for the company. The Goldman Sachs Group increased their target price on shares of Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Morgan Stanley decreased their target price on shares of Amgen from $281.00 to $278.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 7th. SVB Leerink lowered shares of Amgen from an “outperform” rating to a “market perform” rating and cut their price target for the company from $324.00 to $318.00 in a research note on Wednesday, February 7th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $329.00 price target on shares of Amgen in a research note on Wednesday, April 3rd. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Amgen currently has a consensus rating of “Moderate Buy” and an average price target of $296.95.

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.