Amgen Inc. (NASDAQ:AMGN) Shares Sold by Access Financial Services Inc.

Access Financial Services Inc. lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 3.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 3,459 shares of the medical research company’s stock after selling 117 shares during the quarter. Access Financial Services Inc.’s holdings in Amgen were worth $902,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. XTX Topco Ltd acquired a new stake in shares of Amgen during the 2nd quarter worth approximately $661,000. AE Wealth Management LLC lifted its position in shares of Amgen by 33.1% during the 2nd quarter. AE Wealth Management LLC now owns 19,241 shares of the medical research company’s stock valued at $6,012,000 after buying an additional 4,789 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Amgen by 8.9% during the 2nd quarter. Pacer Advisors Inc. now owns 74,039 shares of the medical research company’s stock valued at $23,133,000 after buying an additional 6,048 shares in the last quarter. Summit Trail Advisors LLC lifted its position in shares of Amgen by 4.5% during the 2nd quarter. Summit Trail Advisors LLC now owns 5,389 shares of the medical research company’s stock valued at $1,684,000 after buying an additional 231 shares in the last quarter. Finally, Profund Advisors LLC lifted its position in shares of Amgen by 9.2% during the 2nd quarter. Profund Advisors LLC now owns 61,993 shares of the medical research company’s stock valued at $19,370,000 after buying an additional 5,248 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on AMGN shares. Leerink Partners decreased their target price on Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. TD Cowen increased their target price on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Wolfe Research initiated coverage on Amgen in a report on Friday, November 15th. They issued a “peer perform” rating on the stock. UBS Group decreased their price objective on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Finally, Piper Sandler Companies restated an “overweight” rating and issued a $310.00 price objective on shares of Amgen in a report on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $314.91.

Amgen Stock Up 1.0 %

Shares of NASDAQ:AMGN opened at $272.11 on Monday. The business has a 50-day moving average price of $273.95 and a 200 day moving average price of $307.20. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The company has a market capitalization of $146.27 billion, a price-to-earnings ratio of 34.84, a PEG ratio of 2.68 and a beta of 0.56. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data 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 firm had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period last year, the company earned $4.96 EPS. Sell-side analysts expect that Amgen Inc. will post 19.57 EPS for the current year.

Amgen Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders 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 yield of 3.50%. The ex-dividend date is Friday, February 14th. Amgen’s payout ratio is currently 115.24%.

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.