Perfromance Wealth Partners LLC Cuts Stock Position in Amgen Inc. (NASDAQ:AMGN)

Perfromance Wealth Partners LLC cut its stake in Amgen Inc. (NASDAQ:AMGN) by 25.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 4,821 shares of the medical research company’s stock after selling 1,615 shares during the period. Perfromance Wealth Partners LLC’s holdings in Amgen were worth $1,257,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Pathway Financial Advisers LLC raised its stake in shares of 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 worth $1,437,115,000 after buying an additional 4,446,757 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Amgen by 6,812.4% during the 3rd 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 purchasing an additional 2,486,882 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Amgen by 561.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock worth $496,117,000 after purchasing an additional 1,306,982 shares during the period. Granite Bay Wealth Management LLC lifted its stake in Amgen by 9,058.1% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock worth $223,897,000 after acquiring an additional 748,200 shares in the last quarter. Finally, Nordea Investment Management AB lifted its stake in Amgen by 40.7% during the 4th quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company’s stock worth $609,526,000 after acquiring an additional 676,598 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.

Amgen Trading Up 1.0 %

NASDAQ:AMGN opened at $274.81 on Wednesday. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The stock has a market capitalization of $147.72 billion, a price-to-earnings ratio of 35.19, a PEG ratio of 2.78 and a beta of 0.56. The firm has a fifty day simple moving average of $272.95 and a two-hundred day simple moving average of $306.92. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The company 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 firm’s revenue was up 23.2% on a year-over-year basis. During the same period last year, the firm earned $4.96 earnings per share. Analysts expect that Amgen Inc. will post 19.57 EPS for the current fiscal year.

Amgen Increases Dividend

The company also recently disclosed 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 of this dividend is Friday, February 14th. This represents a $9.52 annualized dividend and a yield of 3.46%. This is a boost from Amgen’s previous quarterly dividend of $2.25. Amgen’s payout ratio is currently 115.24%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on AMGN shares. Citigroup cut their target price on Amgen from $335.00 to $310.00 in a research report on Wednesday, November 27th. Piper Sandler Companies reiterated an “overweight” rating and set a $310.00 target price on shares of Amgen in a research report on Thursday, January 2nd. Cantor Fitzgerald restated an “overweight” rating and issued a $405.00 price target on shares of Amgen in a report on Tuesday, October 22nd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $380.00 target price on shares of Amgen in a research note on Tuesday, November 12th. Finally, Truist Financial reduced their target price on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $314.91.

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.