Cypress Wealth Services LLC Has $762,000 Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Cypress Wealth Services LLC reduced its holdings in Amgen Inc. (NASDAQ:AMGN) by 6.4% in the 4th quarter, HoldingsChannel reports. The fund owned 2,922 shares of the medical research company’s stock after selling 199 shares during the period. Cypress Wealth Services LLC’s holdings in Amgen were worth $762,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of AMGN. Pathway Financial Advisers LLC increased its position in Amgen by 33,125.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after purchasing an additional 4,446,757 shares during the period. International Assets Investment Management LLC increased its position in shares of Amgen by 6,812.4% during the third quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock worth $8,130,610,000 after buying an additional 2,486,882 shares during the period. Assenagon Asset Management S.A. raised its stake in Amgen by 561.5% during the third quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock worth $496,117,000 after buying an additional 1,306,982 shares during the last quarter. Granite Bay Wealth Management LLC lifted its holdings in Amgen by 9,058.1% in the second quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock valued at $223,897,000 after buying an additional 748,200 shares during the period. Finally, Nordea Investment Management AB boosted its position in Amgen by 40.7% during the fourth quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company’s stock valued at $609,526,000 after acquiring an additional 676,598 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AMGN shares. Bank of America reissued an “underperform” rating and issued a $256.00 price objective on shares of Amgen in a research report on Tuesday, December 10th. Piper Sandler dropped their price target on Amgen from $344.00 to $310.00 and set an “overweight” rating on the stock in a research note on Thursday, January 2nd. Wolfe Research assumed coverage on shares of Amgen in a research report on Friday, November 15th. They set a “peer perform” rating for the company. TD Cowen boosted their target price on shares of Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Finally, Redburn Partners cut their target price on shares of Amgen from $200.00 to $195.00 in a research note 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 given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $314.91.

Amgen Stock Up 0.2 %

AMGN opened at $269.43 on Friday. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two 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 company’s 50-day moving average is $276.06 and its 200 day moving average is $307.76. The firm has a market capitalization of $144.83 billion, a P/E ratio of 34.50, a PEG ratio of 2.68 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last announced its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share 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 the consensus estimate of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company’s revenue was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.96 EPS. Research analysts expect that Amgen Inc. will post 19.57 earnings per share for the current fiscal year.

Amgen Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be paid a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.53%. 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 is 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.