Petredis Investment Advisors LLC Has $393,000 Stake in Amgen Inc. (NASDAQ:AMGN)

Petredis Investment Advisors LLC lowered its stake in Amgen Inc. (NASDAQ:AMGN) by 3.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,506 shares of the medical research company’s stock after selling 50 shares during the quarter. Petredis Investment Advisors LLC’s holdings in Amgen were worth $393,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Capital Performance Advisors LLP bought a new stake in Amgen during the third quarter worth approximately $25,000. Legacy Investment Solutions LLC acquired a new stake in shares of Amgen in the third quarter worth $29,000. Hershey Financial Advisers LLC bought a new stake in shares of Amgen during the 2nd quarter worth $30,000. Matrix Trust Co acquired a new position in Amgen in the 3rd quarter valued at $36,000. Finally, Livelsberger Financial Advisory bought a new position in Amgen in the 3rd quarter worth $56,000. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

Amgen stock opened at $275.42 on Friday. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The stock has a fifty day moving average price of $271.55 and a two-hundred day moving average price of $306.24. The firm has a market capitalization of $148.05 billion, a P/E ratio of 35.27, a P/E/G ratio of 2.78 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The firm had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company’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 business earned $4.96 earnings per share. As a group, analysts anticipate that Amgen Inc. will post 19.56 EPS for the current fiscal year.

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be given a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 dividend on an annualized basis and a yield of 3.46%. Amgen’s dividend payout ratio is 121.90%.

Analyst Ratings Changes

A number of research firms have issued reports on AMGN. Wells Fargo & Company decreased their price target on shares of Amgen from $335.00 to $280.00 and set an “equal weight” rating for the company in a report on Friday, January 10th. Deutsche Bank Aktiengesellschaft decreased their target price on Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $405.00 price target on shares of Amgen in a research report on Tuesday, October 22nd. Truist Financial reduced their price objective on Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Finally, StockNews.com lowered shares of Amgen from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Amgen currently has a consensus rating of “Hold” and an average target price of $314.65.

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.