Apexium Financial LP Sells 405 Shares of Amgen Inc. (NASDAQ:AMGN)

Apexium Financial LP cut its holdings in Amgen Inc. (NASDAQ:AMGN) by 14.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,382 shares of the medical research company’s stock after selling 405 shares during the quarter. Apexium Financial LP’s holdings in Amgen were worth $621,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Ascent Group LLC grew its holdings in shares of Amgen by 0.3% in the second quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock worth $3,421,000 after acquiring an additional 31 shares during the period. Cadinha & Co. LLC boosted its holdings in Amgen by 0.6% in the 3rd quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock worth $1,678,000 after buying an additional 32 shares during the period. Lansing Street Advisors increased its stake in Amgen by 1.3% in the 3rd quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock worth $832,000 after buying an additional 32 shares in the last quarter. Unionview LLC raised its holdings in Amgen by 3.8% during the third quarter. Unionview LLC now owns 876 shares of the medical research company’s stock valued at $282,000 after acquiring an additional 32 shares during the period. Finally, Traveka Wealth LLC boosted its stake in shares of Amgen by 4.3% in the third quarter. Traveka Wealth LLC now owns 807 shares of the medical research company’s stock worth $260,000 after acquiring an additional 33 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on AMGN shares. Deutsche Bank Aktiengesellschaft cut their target price on shares of Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Citigroup reduced their price objective on Amgen from $335.00 to $310.00 in a research note on Wednesday, November 27th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $380.00 price objective on shares of Amgen in a research note on Tuesday, November 12th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $405.00 target price on shares of Amgen in a report on Tuesday, October 22nd. Finally, Piper Sandler Companies restated an “overweight” rating and set a $310.00 price target on shares of Amgen in a report on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Amgen has a consensus rating of “Hold” and an average price target of $314.65.

Amgen Trading Down 0.9 %

Amgen stock opened at $275.42 on Monday. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The stock has a 50-day moving average price of $271.39 and a 200 day moving average price of $305.92. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The company has a market capitalization of $148.05 billion, a price-to-earnings ratio of 35.27, a price-to-earnings-growth ratio of 2.78 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating the consensus estimate of $5.11 by $0.47. The business had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period in the prior year, the firm earned $4.96 EPS. Sell-side analysts anticipate that Amgen Inc. will post 19.56 EPS for the current 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 represents a $9.52 annualized dividend and a dividend yield of 3.46%. The ex-dividend date is Friday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio (DPR) is 115.24%.

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.