Narwhal Capital Management Reduces Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Narwhal Capital Management lessened its stake in Amgen Inc. (NASDAQ:AMGN) by 0.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,082 shares of the medical research company’s stock after selling 45 shares during the quarter. Narwhal Capital Management’s holdings in Amgen were worth $1,325,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ascent Group LLC increased its position in shares of Amgen by 0.3% during the second quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock worth $3,421,000 after acquiring an additional 31 shares during the period. Cadinha & Co. LLC grew its stake in Amgen by 0.6% during the 3rd quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock worth $1,678,000 after purchasing an additional 32 shares in the last quarter. Lansing Street Advisors raised its holdings in Amgen by 1.3% in the third quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock valued at $832,000 after acquiring an additional 32 shares in the last quarter. Unionview LLC grew its stake in shares of Amgen by 3.8% during the third quarter. Unionview LLC now owns 876 shares of the medical research company’s stock worth $282,000 after purchasing an additional 32 shares in the last quarter. Finally, Traveka Wealth LLC boosted its position in shares of Amgen by 4.3% during the 3rd quarter. Traveka Wealth LLC now owns 807 shares of the medical research company’s stock worth $260,000 after acquiring an additional 33 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on AMGN shares. Citigroup dropped their target price on shares of Amgen from $335.00 to $310.00 in a research report on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft decreased their price target on Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. Leerink Partners lowered their price objective on Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Bank of America reaffirmed an “underperform” rating and set a $256.00 price target on shares of Amgen in a research note on Tuesday, December 10th. Finally, Truist Financial dropped their price objective on Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $314.65.

Amgen Stock Performance

NASDAQ AMGN opened at $275.42 on Monday. The business’s 50-day simple moving average is $271.39 and its 200-day simple moving average is $305.92. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The firm has a market capitalization of $148.05 billion, a P/E ratio of 35.27, a P/E/G ratio of 2.78 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. During the same quarter last year, the firm posted $4.96 earnings per share. The business’s quarterly revenue was up 23.2% on a year-over-year basis. Equities analysts predict that Amgen Inc. will post 19.56 EPS for the current year.

Amgen Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be given a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.46%. This is a positive change from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. Amgen’s dividend payout ratio is presently 115.24%.

Amgen Company 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.