Amgen Inc. (NASDAQ:AMGN) Stake Lowered by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. reduced its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 1.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 46,084 shares of the medical research company’s stock after selling 489 shares during the period. Atria Wealth Solutions Inc.’s holdings in Amgen were worth $13,273,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. OFI Invest Asset Management bought a new stake in Amgen in the third quarter worth $26,000. Briaud Financial Planning Inc bought a new stake in Amgen in the third quarter worth $26,000. BOK Financial Private Wealth Inc. acquired a new position in Amgen during the 4th quarter worth $29,000. Providence Capital Advisors LLC acquired a new position in Amgen during the 3rd quarter worth $30,000. Finally, Planned Solutions Inc. acquired a new position in Amgen during the 4th quarter worth $30,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Trading Down 1.7 %

Shares of NASDAQ:AMGN traded down $4.54 during trading on Thursday, reaching $268.47. The stock had a trading volume of 610,200 shares, compared to its average volume of 2,812,107. The firm’s fifty day moving average is $275.77 and its 200 day moving average is $281.55. The company has a debt-to-equity ratio of 10.14, a quick ratio of 1.13 and a current ratio of 1.65. Amgen Inc. has a 52 week low of $211.71 and a 52 week high of $329.72. The stock has a market cap of $144.00 billion, a price-to-earnings ratio of 21.86, a P/E/G ratio of 2.55 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last released its 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 company had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.13 billion. During the same quarter in the previous year, the company earned $4.09 EPS. Amgen’s quarterly revenue was up 19.8% compared to the same quarter last year. As a group, equities analysts forecast that Amgen Inc. will post 19.42 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be issued a dividend of $2.25 per share. The ex-dividend date is Thursday, May 16th. This represents a $9.00 annualized dividend and a yield of 3.35%. Amgen’s payout ratio is 72.06%.

Wall Street Analyst Weigh In

AMGN has been the subject of a number of research analyst reports. SVB Leerink lowered shares of Amgen from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $324.00 to $318.00 in a research report on Wednesday, February 7th. Truist Financial reaffirmed a “buy” rating and set a $320.00 price objective on shares of Amgen in a research report on Friday, April 12th. Raymond James initiated coverage on shares of Amgen in a research report on Thursday, March 28th. They set a “market perform” rating for the company. Morgan Stanley cut 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 report on Wednesday, February 7th. Finally, TD Cowen cut their price objective on shares of Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $296.95.

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.