Amgen Inc. (NASDAQ:AMGN) Stock Holdings Cut by Van ECK Associates Corp

Van ECK Associates Corp lessened its position in Amgen Inc. (NASDAQ:AMGN) by 64.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 323,817 shares of the medical research company’s stock after selling 599,315 shares during the period. Van ECK Associates Corp owned approximately 0.06% of Amgen worth $93,266,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in Amgen in the 4th quarter valued at about $4,589,900,000. Assenagon Asset Management S.A. boosted its holdings in Amgen by 486.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 899,232 shares of the medical research company’s stock worth $258,997,000 after buying an additional 745,929 shares in the last quarter. abrdn plc grew its position in Amgen by 150.4% in the fourth quarter. abrdn plc now owns 1,043,609 shares of the medical research company’s stock worth $300,580,000 after buying an additional 626,810 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of Amgen by 11.4% in the third quarter. Royal Bank of Canada now owns 5,079,677 shares of the medical research company’s stock valued at $1,365,213,000 after buying an additional 518,689 shares in the last quarter. Finally, California Public Employees Retirement System lifted its position in shares of Amgen by 22.0% during the 4th quarter. California Public Employees Retirement System now owns 2,716,088 shares of the medical research company’s stock valued at $782,288,000 after acquiring an additional 490,539 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Down 1.1 %

Shares of AMGN traded down $2.93 during mid-day trading on Tuesday, hitting $273.45. 395,472 shares of the company’s stock were exchanged, compared to its average volume of 2,791,311. The stock has a market cap of $146.67 billion, a price-to-earnings ratio of 22.04, a P/E/G ratio of 2.61 and a beta of 0.58. The firm has a fifty day moving average of $274.96 and a two-hundred day moving average of $281.45. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 10.14. Amgen Inc. has a twelve month low of $211.71 and a twelve month high of $329.72.

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

Amgen Dividend Announcement

The business also recently declared 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. The ex-dividend date is Thursday, May 16th. This represents a $9.00 annualized dividend and a yield of 3.29%. Amgen’s dividend payout ratio (DPR) is presently 72.06%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. SVB Leerink lowered Amgen from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $324.00 to $318.00 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 report on Wednesday, February 7th. Truist Financial restated a “buy” rating and set a $320.00 price target on shares of Amgen in a report on Friday, April 12th. UBS Group decreased their price objective on shares of Amgen from $314.00 to $284.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Finally, StockNews.com cut shares of Amgen from a “buy” rating to a “hold” rating in a research report on Thursday, March 28th. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Amgen has a consensus rating of “Moderate Buy” and an average target price of $297.40.

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.