Abundance Wealth Counselors Sells 43 Shares of Amgen Inc. (NASDAQ:AMGN)

Abundance Wealth Counselors lowered its stake in Amgen Inc. (NASDAQ:AMGN) by 0.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,002 shares of the medical research company’s stock after selling 43 shares during the quarter. Abundance Wealth Counselors’ holdings in Amgen were worth $2,086,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Independence Bank of Kentucky grew its holdings in shares of Amgen by 109.9% during the fourth quarter. Independence Bank of Kentucky now owns 2,960 shares of the medical research company’s stock worth $771,000 after purchasing an additional 1,550 shares in the last quarter. Evermay Wealth Management LLC grew its stake in Amgen by 1.5% in the 4th quarter. Evermay Wealth Management LLC now owns 2,650 shares of the medical research company’s stock worth $691,000 after buying an additional 38 shares in the last quarter. Blossom Wealth Management increased its holdings in shares of Amgen by 3.5% in the 4th quarter. Blossom Wealth Management now owns 1,090 shares of the medical research company’s stock worth $284,000 after buying an additional 37 shares during the last quarter. KG&L Capital Management LLC raised its position in shares of Amgen by 37.7% during the 4th quarter. KG&L Capital Management LLC now owns 3,881 shares of the medical research company’s stock valued at $1,011,000 after buying an additional 1,063 shares in the last quarter. Finally, Dohj LLC bought a new stake in shares of Amgen during the 4th quarter worth $953,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Up 0.5 %

AMGN stock opened at $285.42 on Friday. The company has a market capitalization of $153.42 billion, a price-to-earnings ratio of 36.55, a price-to-earnings-growth ratio of 2.85 and a beta of 0.56. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The business’s 50 day moving average price is $271.06 and its two-hundred day moving average price is $304.53. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. The firm had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.96 EPS. As a group, analysts forecast that Amgen Inc. will post 19.56 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. Stockholders of record on Friday, February 14th will be paid a $2.38 dividend. This is a boost from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s dividend payout ratio is currently 115.24%.

Analyst Ratings Changes

A number of research analysts recently commented on AMGN shares. Leerink Partners reduced their target price on Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. Truist Financial dropped their target price on Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Barclays increased their price target on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. TD Cowen boosted their price objective on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Finally, Bank of America reaffirmed an “underperform” rating and set a $256.00 target price on shares of Amgen in a report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $314.00.

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.