Amgen Inc. (NASDAQ:AMGN) Shares Sold by Premier Path Wealth Partners LLC

Premier Path Wealth Partners LLC cut its position in shares of Amgen Inc. (NASDAQ:AMGN) by 1.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,433 shares of the medical research company’s stock after selling 47 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in Amgen were worth $1,155,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Pathway Financial Advisers LLC lifted its position in shares of Amgen by 33,125.4% in the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock worth $1,437,115,000 after buying an additional 4,446,757 shares during the last quarter. International Assets Investment Management LLC boosted its position in Amgen by 6,812.4% during the third quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock valued at $8,130,610,000 after purchasing an additional 2,486,882 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Amgen by 561.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock worth $496,117,000 after purchasing an additional 1,306,982 shares during the last quarter. Granite Bay Wealth Management LLC raised its stake in shares of Amgen by 9,058.1% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock worth $223,897,000 after purchasing an additional 748,200 shares in the last quarter. Finally, Nordea Investment Management AB grew its stake in shares of Amgen by 40.7% in the fourth quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company’s stock valued at $609,526,000 after buying an additional 676,598 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Price Performance

AMGN opened at $272.11 on Friday. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The company has a market capitalization of $146.27 billion, a price-to-earnings ratio of 34.84, a P/E/G ratio of 2.68 and a beta of 0.56. The firm’s fifty day moving average price is $275.01 and its two-hundred day moving average price is $307.49.

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

Amgen Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AMGN shares. Redburn Partners dropped their target price on Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Sanford C. Bernstein began coverage on Amgen in a research note on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price target for the company. Truist Financial dropped their price objective on Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Leerink Partners decreased their price target on Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Finally, Bank of America reaffirmed an “underperform” rating and set a $256.00 price objective on shares of Amgen in a research report on Tuesday, December 10th. 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 stock. According to data from MarketBeat, the stock presently 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.