Waldron Private Wealth LLC Trims Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Waldron Private Wealth LLC lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 1.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,010 shares of the medical research company’s stock after selling 333 shares during the quarter. Waldron Private Wealth LLC’s holdings in Amgen were worth $4,433,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Amgen during the second quarter worth about $16,515,000. Centaurus Financial Inc. increased its position in Amgen by 16.8% during the second quarter. Centaurus Financial Inc. now owns 1,615 shares of the medical research company’s stock worth $505,000 after purchasing an additional 232 shares during the last quarter. Neville Rodie & Shaw Inc. raised its stake in Amgen by 19.2% during the third quarter. Neville Rodie & Shaw Inc. now owns 1,430 shares of the medical research company’s stock worth $461,000 after purchasing an additional 230 shares during the period. Park National Corp OH boosted its holdings in shares of Amgen by 2.6% in the 3rd quarter. Park National Corp OH now owns 2,210 shares of the medical research company’s stock valued at $712,000 after purchasing an additional 55 shares during the last quarter. Finally, AMF Tjanstepension AB grew its stake in shares of Amgen by 16.9% during the 3rd quarter. AMF Tjanstepension AB now owns 120,389 shares of the medical research company’s stock valued at $38,825,000 after buying an additional 17,387 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $285.42 on Friday. The firm’s 50-day simple moving average is $271.24 and its 200 day simple moving average is $304.84. The stock has a market cap of $153.42 billion, a P/E ratio of 36.55, a P/E/G ratio of 2.85 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 fifty-two week low of $253.30 and a fifty-two week high of $346.85.

Amgen (NASDAQ:AMGN) last announced its 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 return on equity of 168.35% and a net margin of 13.00%. The firm had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. During the same quarter in the previous year, the company earned $4.96 earnings per share. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. Equities analysts expect that Amgen Inc. will post 19.56 EPS for the current year.

Amgen Increases Dividend

The company also recently announced 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. The ex-dividend date is Friday, February 14th. This represents a $9.52 annualized dividend and a yield of 3.34%. This is a boost from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio (DPR) is currently 115.24%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AMGN shares. Piper Sandler reduced their target price on Amgen from $344.00 to $310.00 and set an “overweight” rating on the stock in a report on Thursday, January 2nd. Barclays increased their target price on shares of Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Piper Sandler Companies reissued an “overweight” rating and issued a $310.00 target price on shares of Amgen in a research note on Thursday, January 2nd. Truist Financial lowered their price target on Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Finally, Jefferies Financial Group restated a “buy” rating and set a $380.00 price objective on shares of Amgen in a research note on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $314.00.

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.