Procyon Advisors LLC Sells 659 Shares of Amgen Inc. (NASDAQ:AMGN)

Procyon Advisors LLC lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 5.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 11,156 shares of the medical research company’s stock after selling 659 shares during the quarter. Procyon Advisors LLC’s holdings in Amgen were worth $3,213,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. First National Corp MA ADV grew its position in Amgen by 9.5% in the 4th quarter. First National Corp MA ADV now owns 2,420 shares of the medical research company’s stock valued at $697,000 after acquiring an additional 210 shares during the last quarter. Planned Solutions Inc. purchased a new stake in shares of Amgen in the 4th quarter worth $30,000. Monarch Capital Management Inc. purchased a new stake in shares of Amgen in the 4th quarter worth $204,000. Viking Fund Management LLC purchased a new stake in shares of Amgen in the 4th quarter worth $2,016,000. Finally, Sawyer & Company Inc lifted its holdings in shares of Amgen by 184.4% in the 4th quarter. Sawyer & Company Inc now owns 45,605 shares of the medical research company’s stock worth $13,135,000 after buying an additional 29,570 shares during the period. Institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on AMGN shares. SVB Leerink cut Amgen from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $324.00 to $318.00 in a report on Wednesday, February 7th. Morgan Stanley decreased their price objective on Amgen from $281.00 to $278.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 7th. BMO Capital Markets upgraded Amgen from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $286.00 to $326.00 in a research note on Tuesday, December 19th. Truist Financial restated a “buy” rating and set a $320.00 price objective on shares of Amgen in a research note on Wednesday, November 29th. Finally, Royal Bank of Canada upped their price objective on Amgen from $303.00 to $329.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $295.30.

Amgen Stock Performance

Shares of AMGN stock traded down $0.16 during mid-day trading on Thursday, reaching $286.14. The stock had a trading volume of 235,510 shares, compared to its average volume of 3,006,048. The business’s fifty day moving average is $290.44 and its 200-day moving average is $280.66. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 10.14. The firm has a market cap of $153.35 billion, a price-to-earnings ratio of 23.02, a PEG ratio of 2.66 and a beta of 0.58. Amgen Inc. has a 1-year low of $211.71 and a 1-year high of $329.72.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.66 by $0.05. The business had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.13 billion. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The company’s revenue was up 19.8% on a year-over-year basis. During the same period in the prior year, the company earned $4.09 earnings per share. On average, research analysts forecast that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 3.15%. The ex-dividend date is Thursday, May 16th. Amgen’s dividend payout ratio (DPR) is 72.06%.

Amgen 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.