LVW Advisors LLC Has $1.62 Million Stake in Amgen Inc. (NASDAQ:AMGN)

LVW Advisors LLC lessened its holdings in Amgen Inc. (NASDAQ:AMGN) by 12.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,206 shares of the medical research company’s stock after selling 850 shares during the period. LVW Advisors LLC’s holdings in Amgen were worth $1,618,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of AMGN. Capital Performance Advisors LLP bought a new stake in shares of Amgen during the 3rd quarter worth about $25,000. Legacy Investment Solutions LLC bought a new stake in Amgen during the third quarter worth approximately $29,000. Hershey Financial Advisers LLC acquired a new position in Amgen during the second quarter valued at approximately $30,000. Matrix Trust Co bought a new position in shares of Amgen in the third quarter valued at approximately $36,000. Finally, Livelsberger Financial Advisory acquired a new stake in shares of Amgen in the third quarter worth $56,000. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Performance

Shares of AMGN opened at $272.11 on Monday. The stock has a market capitalization of $146.27 billion, a price-to-earnings ratio of 34.84, a PEG ratio of 2.68 and a beta of 0.56. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The firm has a fifty day simple moving average of $273.95 and a 200 day simple moving average of $307.20. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same period in the prior year, the firm posted $4.96 earnings per share. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. Research analysts forecast that Amgen Inc. will post 19.57 EPS for the current fiscal year.

Amgen Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be paid a $2.38 dividend. This is a positive change from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 annualized dividend and a yield of 3.50%. Amgen’s dividend payout ratio is currently 115.24%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Bank of America reiterated an “underperform” rating and issued a $256.00 target price on shares of Amgen in a report on Tuesday, December 10th. Wolfe Research started coverage on Amgen in a research note on Friday, November 15th. They set a “peer perform” rating for the company. Piper Sandler dropped their price target on Amgen from $344.00 to $310.00 and set an “overweight” rating on the stock in a research report on Thursday, January 2nd. Royal Bank of Canada lowered their price objective on shares of Amgen from $360.00 to $330.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 27th. Finally, Truist Financial cut their target price on shares of Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $314.91.

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.