Kestra Advisory Services LLC lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN – Get Rating) by 14.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 55,910 shares of the medical research company’s stock after selling 9,718 shares during the period. Kestra Advisory Services LLC’s holdings in Amgen were worth $14,684,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in AMGN. EdgeRock Capital LLC acquired a new position in Amgen during the third quarter worth about $25,000. Leelyn Smith LLC raised its position in Amgen by 80.3% during the third quarter. Leelyn Smith LLC now owns 110 shares of the medical research company’s stock worth $25,000 after acquiring an additional 49 shares during the last quarter. Glassy Mountain Advisors Inc. acquired a new position in Amgen during the fourth quarter worth about $26,000. Legacy Bridge LLC raised its position in Amgen by 930.0% during the fourth quarter. Legacy Bridge LLC now owns 103 shares of the medical research company’s stock worth $27,000 after acquiring an additional 93 shares during the last quarter. Finally, RFP Financial Group LLC acquired a new position in Amgen during the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 75.53% of the company’s stock.
Amgen Price Performance
AMGN opened at $250.00 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.41 and a debt-to-equity ratio of 10.20. Amgen Inc. has a 52-week low of $223.30 and a 52-week high of $296.67. The company has a 50 day moving average of $239.01 and a two-hundred day moving average of $255.87. The company has a market cap of $133.56 billion, a P/E ratio of 20.64, a P/E/G ratio of 2.03 and a beta of 0.64.
Amgen (NASDAQ:AMGN – Get Rating) last released its quarterly earnings data on Tuesday, February 7th. The medical research company reported $4.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.04 by $0.05. Amgen had a net margin of 24.89% and a return on equity of 359.47%. The company had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.77 billion. During the same period in the previous year, the firm earned $4.36 earnings per share. Amgen’s revenue for the quarter was down .1% on a year-over-year basis. On average, analysts expect that Amgen Inc. will post 17.73 earnings per share for the current year.
Amgen Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 8th. Shareholders of record on Thursday, May 18th will be paid a dividend of $2.13 per share. The ex-dividend date of this dividend is Wednesday, May 17th. This represents a $8.52 annualized dividend and a yield of 3.41%. Amgen’s dividend payout ratio is currently 70.36%.
Wall Street Analysts Forecast Growth
AMGN has been the subject of a number of research reports. SVB Securities cut their target price on shares of Amgen from $282.00 to $267.00 in a research report on Thursday, February 2nd. Truist Financial cut their price objective on shares of Amgen from $280.00 to $260.00 and set a “buy” rating for the company in a research report on Monday, February 13th. Argus cut their price objective on shares of Amgen from $300.00 to $270.00 in a research report on Monday, February 6th. Wells Fargo & Company raised shares of Amgen from an “equal weight” rating to an “overweight” rating and cut their price objective for the company from $275.00 to $265.00 in a research report on Monday, March 13th. Finally, Cowen cut their price objective on shares of Amgen from $307.00 to $289.00 and set an “outperform” rating for the company in a research report on Wednesday, February 1st. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $251.25.
Amgen Profile
Amgen, Inc is a biotechnology company, which engages in the discovery, development, manufacture, and marketing of human therapeutics. It operates through Human Therapeutics segment. The company was founded by William K. Bowes, Jr., Franklin Pitcher Johnson, Jr., George B. Rathmann, and Joseph Rubinfeld on April 8, 1980 and is headquartered in Thousand Oaks, CA.
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