Larson Financial Group LLC Cuts Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Larson Financial Group LLC decreased its position in Amgen Inc. (NASDAQ:AMGN) by 11.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 310 shares of the medical research company’s stock after selling 40 shares during the quarter. Larson Financial Group LLC’s holdings in Amgen were worth $89,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AMGN. OFI Invest Asset Management bought a new position in shares of Amgen during the 3rd quarter worth approximately $26,000. Briaud Financial Planning Inc bought a new stake in Amgen during the third quarter worth $26,000. BOK Financial Private Wealth Inc. purchased a new position in Amgen in the fourth quarter worth $29,000. Providence Capital Advisors LLC bought a new position in Amgen in the 3rd quarter valued at $30,000. Finally, Planned Solutions Inc. purchased a new stake in shares of Amgen during the 4th quarter valued at $30,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on AMGN. TD Cowen cut their price target on shares of Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. StockNews.com cut shares of Amgen from a “buy” rating to a “hold” rating in a report on Thursday, March 28th. UBS Group decreased their target price on Amgen from $314.00 to $284.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. Royal Bank of Canada restated an “outperform” rating and issued a $329.00 target price on shares of Amgen in a research note on Wednesday, April 3rd. Finally, SVB Leerink downgraded Amgen from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $324.00 to $318.00 in a research note on Wednesday, February 7th. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Amgen currently has an average rating of “Moderate Buy” and an average target price of $296.95.

Amgen Stock Down 1.3 %

AMGN stock opened at $269.38 on Friday. Amgen Inc. has a 1-year low of $211.71 and a 1-year high of $329.72. The stock has a market cap of $144.49 billion, a price-to-earnings ratio of 21.57, a price-to-earnings-growth ratio of 2.55 and a beta of 0.58. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 10.14. The company’s 50 day moving average is $275.38 and its 200 day moving average is $281.46.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 EPS 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 for the quarter, compared to analyst estimates of $8.13 billion. During the same quarter in the prior year, the firm earned $4.09 EPS. The business’s revenue for the quarter was up 19.8% compared to the same quarter last year. Sell-side analysts predict that Amgen Inc. will post 19.42 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date is Thursday, May 16th. Amgen’s payout ratio is currently 72.06%.

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.