Amgen Inc. (NASDAQ:AMGN) Stake Cut by Marshall Financial Group LLC

Marshall Financial Group LLC cut its position in shares of Amgen Inc. (NASDAQ:AMGN) by 75.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 957 shares of the medical research company’s stock after selling 2,898 shares during the period. Marshall Financial Group LLC’s holdings in Amgen were worth $249,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. State Street Corp lifted its holdings in shares of Amgen by 1.2% during the 3rd quarter. State Street Corp now owns 29,317,018 shares of the medical research company’s stock valued at $9,446,236,000 after buying an additional 345,537 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Amgen by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 12,122,889 shares of the medical research company’s stock valued at $3,893,771,000 after buying an additional 103,851 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Amgen by 2.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,532,629 shares of the medical research company’s stock valued at $3,393,718,000 after buying an additional 251,876 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Amgen by 11.7% during the 3rd quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock valued at $1,657,183,000 after buying an additional 538,545 shares during the last quarter. Finally, Pathway Financial Advisers LLC lifted its holdings in shares of Amgen by 33,125.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after buying an additional 4,446,757 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Performance

AMGN opened at $275.42 on Monday. The stock has a market cap of $148.05 billion, a PE ratio of 35.27, a P/E/G ratio of 2.78 and a beta of 0.56. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The stock’s 50 day simple moving average is $271.39 and its 200-day simple moving average is $305.92.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The business had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. Amgen’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period in the previous year, the business posted $4.96 earnings per share. Sell-side analysts forecast that Amgen Inc. will post 19.56 EPS for the current year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be paid a $2.38 dividend. This is a positive change from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. This represents a $9.52 annualized dividend and a yield of 3.46%. Amgen’s payout ratio is currently 115.24%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on AMGN shares. StockNews.com lowered Amgen from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. Redburn Partners cut their price objective on Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Royal Bank of Canada reissued an “outperform” rating and issued a $324.00 price objective on shares of Amgen in a research note on Friday. Piper Sandler Companies reissued an “overweight” rating and issued a $310.00 price objective on shares of Amgen in a research note on Thursday, January 2nd. Finally, Piper Sandler cut their price objective on Amgen from $344.00 to $310.00 and set an “overweight” rating on the stock in a research note on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Amgen has an average rating of “Hold” and an average price target of $314.65.

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.