Amgen Inc. (NASDAQ:AMGN) Stock Position Reduced by Narwhal Capital Management

Narwhal Capital Management trimmed its position in Amgen Inc. (NASDAQ:AMGN) by 0.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,082 shares of the medical research company’s stock after selling 45 shares during the quarter. Narwhal Capital Management’s holdings in Amgen were worth $1,325,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in AMGN. Texas Capital Bank Wealth Management Services Inc acquired a new stake in Amgen during the second quarter worth about $224,000. Ascent Group LLC grew its holdings in shares of Amgen by 0.3% during the second quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock valued at $3,421,000 after purchasing an additional 31 shares during the last quarter. Aviso Wealth Management raised its position in shares of Amgen by 64.8% during the 2nd quarter. Aviso Wealth Management now owns 3,013 shares of the medical research company’s stock worth $941,000 after purchasing an additional 1,185 shares during the period. Buck Wealth Strategies LLC bought a new stake in shares of Amgen in the 2nd quarter worth approximately $7,169,000. Finally, Magnolia Capital Advisors LLC acquired a new position in Amgen during the 2nd quarter valued at approximately $486,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Price Performance

NASDAQ AMGN opened at $275.42 on Monday. The stock has a market capitalization of $148.05 billion, a P/E ratio of 35.27, a P/E/G ratio of 2.78 and a beta of 0.56. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The business’s fifty day moving average is $271.39 and its two-hundred day moving average is $305.92. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85.

Amgen (NASDAQ:AMGN) last announced its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. The company had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. Amgen’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.96 earnings per share. On average, research analysts forecast that Amgen Inc. will post 19.56 earnings per share for the current fiscal year.

Amgen Increases Dividend

The company 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 $2.38 dividend. This is an increase from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s dividend payout ratio (DPR) is 115.24%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AMGN. TD Cowen increased their target price on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. William Blair reiterated an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. Redburn Partners reduced their target price on shares of Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Piper Sandler dropped their price target on shares of Amgen from $344.00 to $310.00 and set an “overweight” rating on the stock in a research note on Thursday, January 2nd. Finally, Piper Sandler Companies reiterated an “overweight” rating and set a $310.00 price objective on shares of Amgen in a research report on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $314.65.

Amgen Company 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.