Amgen Inc. (NASDAQ:AMGN) Shares Sold by Cornell Pochily Investment Advisors Inc.

Cornell Pochily Investment Advisors Inc. lowered its position in shares of Amgen Inc. (NASDAQ:AMGN) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,684 shares of the medical research company’s stock after selling 85 shares during the period. Cornell Pochily Investment Advisors Inc.’s holdings in Amgen were worth $2,003,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Ridgecrest Wealth Partners LLC grew its stake in Amgen by 5.7% during the 4th quarter. Ridgecrest Wealth Partners LLC now owns 4,427 shares of the medical research company’s stock worth $1,154,000 after buying an additional 239 shares during the last quarter. McLean Asset Management Corp boosted its holdings in shares of Amgen by 12.7% in the fourth quarter. McLean Asset Management Corp now owns 1,040 shares of the medical research company’s stock valued at $271,000 after acquiring an additional 117 shares during the period. United Asset Strategies Inc. grew its position in shares of Amgen by 2.6% during the fourth quarter. United Asset Strategies Inc. now owns 32,413 shares of the medical research company’s stock worth $8,448,000 after acquiring an additional 820 shares during the last quarter. Cornerstone Wealth Group LLC increased its holdings in shares of Amgen by 2.8% in the 4th quarter. Cornerstone Wealth Group LLC now owns 13,307 shares of the medical research company’s stock valued at $3,468,000 after acquiring an additional 363 shares during the period. Finally, KBC Group NV raised its position in Amgen by 4.8% in the 4th quarter. KBC Group NV now owns 242,435 shares of the medical research company’s stock valued at $63,189,000 after purchasing an additional 11,056 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Trading Down 0.9 %

NASDAQ:AMGN opened at $275.42 on Monday. The company has a market capitalization of $148.05 billion, a PE ratio of 35.27, a price-to-earnings-growth ratio of 2.78 and a beta of 0.56. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The stock has a fifty day simple moving average of $271.39 and a 200-day simple moving average of $305.81. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55.

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 during the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.96 earnings per share. On average, equities research analysts expect that Amgen Inc. will post 19.56 earnings per share for the current fiscal year.

Amgen Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be issued a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio is 115.24%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AMGN. William Blair restated an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. Jefferies Financial Group restated a “buy” rating and issued a $380.00 price target on shares of Amgen in a research report on Tuesday, November 12th. Sanford C. Bernstein began coverage on Amgen in a research note on Thursday, October 17th. They set an “outperform” rating and a $380.00 price objective for the company. Piper Sandler Companies reiterated an “overweight” rating and issued a $310.00 target price on shares of Amgen in a research note on Thursday, January 2nd. Finally, TD Cowen upped their price target on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus 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.