Amgen Inc. (NASDAQ:AMGN) Shares Sold by Golden State Equity Partners

Golden State Equity Partners reduced its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 11.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,694 shares of the medical research company’s stock after selling 964 shares during the quarter. Golden State Equity Partners’ holdings in Amgen were worth $2,216,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMGN. International Assets Investment Management LLC purchased a new position in Amgen during the 4th quarter worth $4,589,900,000. Assenagon Asset Management S.A. boosted its holdings in shares of Amgen by 486.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 899,232 shares of the medical research company’s stock valued at $258,997,000 after acquiring an additional 745,929 shares in the last quarter. abrdn plc boosted its holdings in shares of Amgen by 150.4% in the fourth quarter. abrdn plc now owns 1,043,609 shares of the medical research company’s stock valued at $300,580,000 after acquiring an additional 626,810 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of Amgen by 11.4% in the third quarter. Royal Bank of Canada now owns 5,079,677 shares of the medical research company’s stock valued at $1,365,213,000 after acquiring an additional 518,689 shares in the last quarter. Finally, California Public Employees Retirement System boosted its holdings in shares of Amgen by 22.0% in the fourth quarter. California Public Employees Retirement System now owns 2,716,088 shares of the medical research company’s stock valued at $782,288,000 after acquiring an additional 490,539 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on AMGN. Truist Financial reaffirmed a “buy” rating and issued a $320.00 target price on shares of Amgen in a report on Friday, April 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $329.00 price objective on shares of Amgen in a research note on Wednesday, April 3rd. Oppenheimer reiterated an “outperform” rating and issued a $350.00 price objective on shares of Amgen in a research note on Thursday, February 1st. UBS Group reduced their price objective on shares of Amgen from $314.00 to $284.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Finally, The Goldman Sachs Group raised 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 investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Amgen presently has an average rating of “Moderate Buy” and an average price target of $296.95.

Amgen Stock Performance

Shares of AMGN opened at $269.98 on Friday. 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 stock has a market cap of $144.81 billion, a P/E ratio of 21.62, a PEG ratio of 2.61 and a beta of 0.58. The company has a 50-day moving average of $275.10 and a two-hundred day moving average of $281.52. Amgen Inc. has a 12-month low of $211.71 and a 12-month 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 business had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.13 billion. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The company’s revenue was up 19.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.09 earnings per share. As a group, research analysts predict that Amgen Inc. will post 19.43 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date is Thursday, May 16th. Amgen’s dividend payout ratio is presently 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.