Amgen Inc. (NASDAQ:AMGN) Shares Sold by Legacy Trust

Legacy Trust cut its holdings in Amgen Inc. (NASDAQ:AMGN) by 3.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,779 shares of the medical research company’s stock after selling 98 shares during the quarter. Legacy Trust’s holdings in Amgen were worth $724,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Brown Financial Advisors acquired a new position in shares of Amgen in the 2nd quarter worth $755,000. Sanctuary Advisors LLC acquired a new position in shares of Amgen in the 2nd quarter valued at $21,049,000. Lazari Capital Management Inc. increased its stake in Amgen by 2.1% in the 2nd quarter. Lazari Capital Management Inc. now owns 2,367 shares of the medical research company’s stock worth $740,000 after purchasing an additional 49 shares in the last quarter. Heritage Wealth Management Inc. acquired a new stake in Amgen during the 2nd quarter worth about $846,000. Finally, Cannon Financial Strategists Inc. purchased a new stake in Amgen during the second quarter valued at about $352,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Trading Up 0.5 %

Shares of AMGN stock opened at $281.68 on Thursday. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The company has a market cap of $151.41 billion, a PE ratio of 36.07, 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. The business’s 50 day moving average is $271.48 and its two-hundred day moving average is $305.15.

Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The business 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%. Amgen’s revenue was up 23.2% compared to the same quarter last year. During the same period last year, the business posted $4.96 EPS. Equities analysts predict that Amgen Inc. will post 19.56 EPS for the current year.

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be given a $2.38 dividend. This is an increase from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Friday, February 14th. Amgen’s dividend payout ratio (DPR) is currently 115.24%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Piper Sandler Companies restated an “overweight” rating and set a $310.00 price target on shares of Amgen in a report on Thursday, January 2nd. Wolfe Research assumed coverage on Amgen in a report on Friday, November 15th. They issued a “peer perform” rating for the company. Citigroup lowered their price target on Amgen from $310.00 to $295.00 and set a “neutral” rating on the stock in a report on Tuesday. William Blair reissued an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Amgen has an average rating of “Hold” and a consensus price target of $314.00.

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.