Princeton Global Asset Management LLC Sells 590 Shares of Amgen Inc. (NASDAQ:AMGN)

Princeton Global Asset Management LLC trimmed its stake in Amgen Inc. (NASDAQ:AMGN) by 59.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 399 shares of the medical research company’s stock after selling 590 shares during the period. Princeton Global Asset Management LLC’s holdings in Amgen were worth $104,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in AMGN. Capital Performance Advisors LLP bought a new position in Amgen in the 3rd quarter valued at about $25,000. Legacy Investment Solutions LLC purchased a new stake in Amgen during the third quarter worth about $29,000. Matrix Trust Co purchased a new stake in shares of Amgen during the 3rd quarter worth approximately $36,000. Heck Capital Advisors LLC bought a new stake in shares of Amgen in the fourth quarter valued at $36,000. Finally, Livelsberger Financial Advisory bought a new position in Amgen during the third quarter worth about $56,000. 76.50% of the stock is currently owned by institutional investors.

Amgen Trading Up 1.2 %

NASDAQ:AMGN opened at $288.87 on Tuesday. The stock’s 50-day moving average is $271.06 and its two-hundred day moving average is $304.11. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The stock has a market cap of $155.28 billion, a PE ratio of 36.99, a price-to-earnings-growth ratio of 2.87 and a beta of 0.56. 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 Increases Dividend

The company also recently disclosed 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 yield of 3.30%. 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 (DPR) is presently 115.24%.

Wall Street Analysts Forecast Growth

AMGN has been the topic of several analyst reports. Leerink Partners decreased their price target on Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. William Blair reaffirmed an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $405.00 target price on shares of Amgen in a research note on Tuesday, October 22nd. Redburn Partners decreased their price objective on Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Finally, Bank of America reaffirmed an “underperform” rating and set a $256.00 target price on shares of Amgen in a research note on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Amgen presently has an average rating of “Hold” and an average price target of $314.00.

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.