Federated Hermes Inc. Sells 760,949 Shares of Amgen Inc. (NASDAQ:AMGN)

Federated Hermes Inc. cut its position in Amgen Inc. (NASDAQ:AMGN) by 30.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,738,695 shares of the medical research company’s stock after selling 760,949 shares during the quarter. Amgen makes up about 1.2% of Federated Hermes Inc.’s holdings, making the stock its 5th biggest position. Federated Hermes Inc. owned about 0.32% of Amgen worth $500,779,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new stake in Amgen in the 3rd quarter worth $26,000. Briaud Financial Planning Inc bought a new position in shares of Amgen during the 3rd quarter worth about $26,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Amgen during the 1st quarter worth about $28,000. BOK Financial Private Wealth Inc. bought a new position in shares of Amgen during the 4th quarter worth about $29,000. Finally, Providence Capital Advisors LLC bought a new position in Amgen during the 3rd quarter valued at about $30,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. The Goldman Sachs Group lifted their price target on shares of Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. UBS Group cut their price target on shares of Amgen from $314.00 to $284.00 and set a “neutral” rating for the company in a report on Wednesday. Morgan Stanley cut their price target on shares of Amgen from $281.00 to $278.00 and set an “equal weight” rating for the company in a report on Wednesday, February 7th. Royal Bank of Canada restated an “outperform” rating and issued a $329.00 price objective on shares of Amgen in a research report on Wednesday, April 3rd. Finally, TD Cowen reduced their target price on shares of Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a research report on Wednesday. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $296.95.

Amgen Trading Up 0.1 %

Shares of AMGN traded up $0.28 during trading hours on Thursday, reaching $264.35. The stock had a trading volume of 437,135 shares, compared to its average volume of 2,829,316. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 10.14. Amgen Inc. has a 52 week low of $211.71 and a 52 week high of $329.72. The firm has a 50-day moving average of $277.99 and a 200 day moving average of $281.37. The company has a market cap of $141.67 billion, a P/E ratio of 21.14, a P/E/G ratio of 2.47 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share for the quarter, topping analysts’ consensus estimates of $4.66 by $0.05. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The firm had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.13 billion. During the same period in the prior year, the business earned $4.09 EPS. The company’s revenue for the quarter was up 19.8% compared to the same quarter last year. On average, sell-side analysts expect that Amgen Inc. will post 19.46 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be issued a $2.25 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $9.00 annualized dividend and a yield of 3.40%. Amgen’s dividend payout ratio is currently 72.06%.

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.