Washington Trust Advisors Inc. Sells 171 Shares of Amgen Inc. (NASDAQ:AMGN)

Washington Trust Advisors Inc. decreased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 12.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,190 shares of the medical research company’s stock after selling 171 shares during the quarter. Washington Trust Advisors Inc.’s holdings in Amgen were worth $343,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. OFI Invest Asset Management acquired a new stake in Amgen during the 3rd quarter worth about $26,000. Briaud Financial Planning Inc bought a new stake in shares of Amgen during the 3rd quarter valued at about $26,000. VisionPoint Advisory Group LLC acquired a new stake in Amgen during the second quarter worth approximately $28,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Amgen in the 1st quarter valued at $28,000. Finally, Providence Capital Advisors LLC acquired a new position in shares of Amgen during the 3rd quarter valued at $30,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Down 0.5 %

Shares of Amgen stock traded down $1.57 during midday trading on Thursday, hitting $284.73. The company had a trading volume of 829,698 shares, compared to its average volume of 3,015,711. The company has a 50 day moving average of $290.44 and a 200 day moving average of $280.66. The company has a debt-to-equity ratio of 10.14, a quick ratio of 1.13 and a current ratio of 1.65. The stock has a market capitalization of $152.59 billion, a P/E ratio of 23.02, a P/E/G ratio of 2.66 and a beta of 0.58. Amgen Inc. has a 52-week low of $211.71 and a 52-week high of $329.72.

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

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be issued a $2.25 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $9.00 annualized dividend and a dividend yield of 3.16%. Amgen’s dividend payout ratio (DPR) is 72.06%.

Wall Street Analyst Weigh In

Several research firms have weighed in on AMGN. The Goldman Sachs Group lifted their price target on shares of Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Royal Bank of Canada upped their price target on Amgen from $303.00 to $329.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Truist Financial reissued a “buy” rating and issued a $320.00 price objective on shares of Amgen in a research note on Wednesday, November 29th. UBS Group lowered their target price on Amgen from $315.00 to $314.00 and set a “neutral” rating on the stock in a research report on Monday, January 29th. Finally, Oppenheimer reissued an “outperform” rating and issued a $350.00 price target on shares of Amgen in a research report on Thursday, February 1st. One analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $295.30.

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.