Amgen Inc. (NASDAQ:AMGN) Shares Sold by Sheets Smith Wealth Management

Sheets Smith Wealth Management decreased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 1.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,449 shares of the medical research company’s stock after selling 243 shares during the quarter. Sheets Smith Wealth Management’s holdings in Amgen were worth $5,330,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. XTX Topco Ltd acquired a new stake in Amgen during the 2nd quarter worth about $661,000. Certified Advisory Corp lifted its holdings in shares of Amgen by 16.0% during the second quarter. Certified Advisory Corp now owns 1,460 shares of the medical research company’s stock worth $456,000 after purchasing an additional 201 shares during the period. Steel Grove Capital Advisors LLC boosted its position in Amgen by 5.8% in the second quarter. Steel Grove Capital Advisors LLC now owns 1,357 shares of the medical research company’s stock valued at $424,000 after buying an additional 74 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in Amgen by 74.2% in the 2nd quarter. Public Sector Pension Investment Board now owns 20,647 shares of the medical research company’s stock worth $6,451,000 after buying an additional 8,795 shares during the period. Finally, Evergreen Capital Management LLC boosted its holdings in shares of Amgen by 2.5% in the 2nd quarter. Evergreen Capital Management LLC now owns 9,057 shares of the medical research company’s stock valued at $2,830,000 after acquiring an additional 225 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

AMGN has been the topic of several recent research reports. TD Cowen upped their price target on shares of Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a report on Monday, October 21st. Piper Sandler decreased their target price on shares of Amgen from $344.00 to $310.00 and set an “overweight” rating for the company in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. Cantor Fitzgerald restated an “overweight” rating and set a $405.00 target price on shares of Amgen in a research report on Tuesday, October 22nd. Finally, Citigroup lowered their price target on Amgen from $335.00 to $310.00 in a research report on Wednesday, November 27th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Amgen presently has a consensus rating of “Hold” and an average price target of $314.91.

Amgen Price Performance

Amgen stock opened at $274.81 on Wednesday. The firm has a market cap of $147.72 billion, a PE ratio of 35.19, a price-to-earnings-growth ratio of 2.78 and a beta of 0.56. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The company’s 50 day moving average is $272.95 and its two-hundred day moving average is $306.92.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS 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 company had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same quarter in the previous year, the business posted $4.96 EPS. The firm’s revenue was up 23.2% on a year-over-year basis. On average, research analysts expect that Amgen Inc. will post 19.57 EPS for the current fiscal year.

Amgen Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be paid a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date is Friday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio (DPR) is currently 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.