Amgen Inc. (NASDAQ:AMGN) Shares Sold by SVB Wealth LLC

SVB Wealth LLC trimmed its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 3.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,253 shares of the medical research company’s stock after selling 922 shares during the period. SVB Wealth LLC’s holdings in Amgen were worth $7,849,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of AMGN. Roundview Capital LLC lifted its position in shares of Amgen by 1.3% during the 1st quarter. Roundview Capital LLC now owns 8,383 shares of the medical research company’s stock valued at $2,027,000 after acquiring an additional 107 shares during the period. Merit Financial Group LLC raised its position in shares of Amgen by 39.2% during the 1st quarter. Merit Financial Group LLC now owns 2,297 shares of the medical research company’s stock worth $555,000 after purchasing an additional 647 shares during the last quarter. Ergoteles LLC acquired a new position in shares of Amgen during the 1st quarter worth approximately $219,000. First Western Trust Bank acquired a new position in shares of Amgen during the 1st quarter worth approximately $334,000. Finally, Fuller & Thaler Asset Management Inc. raised its position in shares of Amgen by 2.1% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 24,688 shares of the medical research company’s stock worth $5,970,000 after purchasing an additional 513 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Performance

NASDAQ:AMGN opened at $265.64 on Wednesday. The company has a debt-to-equity ratio of 10.14, a current ratio of 1.65 and a quick ratio of 1.13. The firm has a 50-day moving average of $278.62 and a two-hundred day moving average of $281.49. The stock has a market cap of $142.36 billion, a P/E ratio of 21.27, a PEG ratio of 2.53 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 posted 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 company had revenue of $8.20 billion during the quarter, compared to analysts’ expectations of $8.13 billion. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The firm’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same period in the prior year, the company posted $4.09 EPS. On average, research analysts expect that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be given a $2.25 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $9.00 dividend on an annualized basis and a yield of 3.39%. Amgen’s payout ratio is currently 72.06%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AMGN. Oppenheimer reiterated an “outperform” rating and issued a $350.00 price target on shares of Amgen in a report on Thursday, February 1st. Morgan Stanley lowered their price objective on shares of Amgen from $281.00 to $278.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 7th. Daiwa Capital Markets raised shares of Amgen from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $264.00 to $320.00 in a research note on Thursday, December 21st. BMO Capital Markets raised shares of Amgen from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $286.00 to $326.00 in a research note on Tuesday, December 19th. Finally, The Goldman Sachs Group boosted their price objective 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. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $295.30.

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.