Procyon Advisors LLC Raises Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Procyon Advisors LLC raised its stake in Amgen Inc. (NASDAQ:AMGN) by 4.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 9,748 shares of the medical research company’s stock after buying an additional 385 shares during the quarter. Procyon Advisors LLC’s holdings in Amgen were worth $2,541,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Pathway Financial Advisers LLC raised its stake in shares of Amgen by 33,125.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock worth $1,437,115,000 after acquiring an additional 4,446,757 shares in the last quarter. International Assets Investment Management LLC grew its holdings in Amgen by 6,812.4% in the third quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock worth $8,130,610,000 after purchasing an additional 2,486,882 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings 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 valued at $496,117,000 after purchasing an additional 1,306,982 shares during the last quarter. Granite Bay Wealth Management LLC boosted its position in shares of Amgen by 9,058.1% in 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 Amgen by 40.7% during the 4th quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company’s stock worth $609,526,000 after buying an additional 676,598 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors.

Amgen Price Performance

Amgen stock opened at $269.43 on Friday. 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 stock has a market cap of $144.83 billion, a P/E ratio of 34.50, a PEG ratio of 2.68 and a beta of 0.56. The company has a 50-day moving average price of $276.06 and a 200 day moving average price of $307.76. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same quarter last year, the business posted $4.96 EPS. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. Sell-side analysts anticipate that Amgen Inc. will post 19.57 earnings per share for the current year.

Amgen Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be issued a $2.38 dividend. This is a boost from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 annualized dividend and a dividend yield of 3.53%. Amgen’s dividend payout ratio is presently 115.24%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on AMGN shares. Robert W. Baird restated an “underperform” rating and set a $215.00 price objective on shares of Amgen in a report on Wednesday, September 25th. Wells Fargo & Company lowered their price objective on shares of Amgen from $335.00 to $280.00 and set an “equal weight” rating for the company in a research note on Friday, January 10th. William Blair restated an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. Truist Financial dropped their price target on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Finally, Citigroup reduced their price objective on Amgen from $335.00 to $310.00 in a research note on Wednesday, November 27th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average 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.