Amgen Inc. (NASDAQ:AMGN) Shares Sold by True North Advisors LLC

True North Advisors LLC lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 9.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,028 shares of the medical research company’s stock after selling 102 shares during the quarter. True North Advisors LLC’s holdings in Amgen were worth $268,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Traynor Capital Management Inc. boosted its holdings in shares of Amgen by 32.9% in the 4th quarter. Traynor Capital Management Inc. now owns 861 shares of the medical research company’s stock valued at $224,000 after acquiring an additional 213 shares during the last quarter. GoalVest Advisory LLC grew its position in Amgen by 99.7% during the fourth quarter. GoalVest Advisory LLC now owns 1,202 shares of the medical research company’s stock valued at $313,000 after buying an additional 600 shares during the period. Kelleher Financial Advisors boosted its stake in shares of Amgen by 1.8% during the 4th quarter. Kelleher Financial Advisors now owns 2,472 shares of the medical research company’s stock worth $644,000 after acquiring an additional 43 shares in the last quarter. Daymark Wealth Partners LLC raised its holdings in Amgen by 3.3% in the 4th quarter. Daymark Wealth Partners LLC now owns 238,856 shares of the medical research company’s stock worth $62,255,000 after purchasing an additional 7,684 shares during the period. Finally, Advisory Alpha LLC acquired a new position in Amgen in the 4th quarter worth about $214,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on AMGN shares. Truist Financial cut 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. Barclays boosted their price target on shares of Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Redburn Partners decreased their price objective on shares of Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. TD Cowen boosted their target price on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, Wells Fargo & Company decreased their price target on shares of Amgen from $335.00 to $280.00 and set an “equal weight” rating on the stock in a research note on Friday, January 10th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Amgen presently has an average rating of “Hold” and a consensus price target of $314.91.

Amgen Trading Down 0.5 %

Shares of NASDAQ AMGN opened at $273.44 on Thursday. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The stock has a market capitalization of $146.98 billion, a PE ratio of 35.01, a PEG ratio of 2.78 and a beta of 0.56. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The stock has a fifty day simple moving average of $272.47 and a 200-day simple moving average of $306.67.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. During the same quarter last year, the firm posted $4.96 earnings per share. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. On average, equities analysts forecast that Amgen Inc. will post 19.57 earnings per share 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 issued a $2.38 dividend. This is a boost from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 annualized dividend and a yield of 3.48%. Amgen’s dividend payout ratio (DPR) 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.