Amgen Inc. (NASDAQ:AMGN) Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC decreased its position in Amgen Inc. (NASDAQ:AMGN) by 2.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 141,273 shares of the medical research company’s stock after selling 3,458 shares during the period. Gateway Investment Advisers LLC’s holdings in Amgen were worth $36,821,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Beech Hill Advisors Inc. increased its stake in Amgen by 11.1% during the fourth quarter. Beech Hill Advisors Inc. now owns 1,500 shares of the medical research company’s stock worth $391,000 after acquiring an additional 150 shares during the last quarter. SignalPoint Asset Management LLC grew its holdings in shares of Amgen by 10.9% during the 4th quarter. SignalPoint Asset Management LLC now owns 1,358 shares of the medical research company’s stock worth $354,000 after purchasing an additional 134 shares during the period. StrongBox Wealth LLC increased its position in shares of Amgen by 0.4% during the 4th quarter. StrongBox Wealth LLC now owns 11,649 shares of the medical research company’s stock worth $3,036,000 after purchasing an additional 42 shares during the last quarter. Flywheel Private Wealth LLC purchased a new stake in Amgen in the 4th quarter valued at about $340,000. Finally, Rovin Capital UT ADV lifted its position in Amgen by 89.1% in the fourth quarter. Rovin Capital UT ADV now owns 1,235 shares of the medical research company’s stock valued at $322,000 after buying an additional 582 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on AMGN shares. TD Cowen lifted their price target on shares of Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. Wells Fargo & Company cut their target price on Amgen from $335.00 to $280.00 and set an “equal weight” rating on the stock in a research report on Friday, January 10th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $380.00 price objective on shares of Amgen in a research note on Tuesday, November 12th. Finally, Bank of America reiterated an “underperform” rating and issued a $256.00 price objective on shares of Amgen in a report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $314.91.

Amgen Stock Down 0.1 %

AMGN stock traded down $0.23 during trading on Thursday, hitting $268.71. 104,996 shares of the company’s stock were exchanged, compared to its average volume of 2,846,305. The stock has a market capitalization of $144.44 billion, a price-to-earnings ratio of 34.41, a PEG ratio of 2.68 and a beta of 0.56. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The business has a 50-day moving average price of $277.12 and a two-hundred day moving average price of $308.03.

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

Amgen Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be given a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.54%. This is a boost from Amgen’s previous quarterly dividend of $2.25. Amgen’s payout ratio is 115.24%.

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.