Amgen Inc. (NASDAQ:AMGN) Shares Sold by Spinnaker Investment Group LLC

Spinnaker Investment Group LLC reduced its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 3.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,480 shares of the medical research company’s stock after selling 91 shares during the quarter. Spinnaker Investment Group LLC’s holdings in Amgen were worth $646,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Insigneo Advisory Services LLC raised its stake in Amgen by 31.7% during the 2nd quarter. Insigneo Advisory Services LLC now owns 3,864 shares of the medical research company’s stock worth $1,257,000 after acquiring an additional 930 shares in the last quarter. APG Asset Management US Inc. increased its position in shares of Amgen by 2.2% during the second quarter. APG Asset Management US Inc. now owns 158,539 shares of the medical research company’s stock worth $49,307,000 after purchasing an additional 3,450 shares in the last quarter. APG Asset Management N.V. lifted its holdings in shares of Amgen by 11.8% in the 2nd quarter. APG Asset Management N.V. now owns 629,733 shares of the medical research company’s stock valued at $183,588,000 after purchasing an additional 66,416 shares during the last quarter. Drucker Wealth 3.0 LLC acquired a new stake in shares of Amgen in the 2nd quarter valued at about $3,167,000. Finally, Delta Investment Management LLC grew its stake in Amgen by 3.3% during the 2nd quarter. Delta Investment Management LLC now owns 1,903 shares of the medical research company’s stock worth $595,000 after buying an additional 61 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

AMGN has been the subject of a number of research reports. TD Cowen boosted their price objective on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research note on Monday, October 21st. UBS Group decreased their price target on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Cantor Fitzgerald restated an “overweight” rating and issued a $405.00 price target on shares of Amgen in a research report on Tuesday, October 22nd. Citigroup decreased their price target on Amgen from $335.00 to $310.00 in a report on Wednesday, November 27th. Finally, Barclays boosted their price objective on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. 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 assigned a strong buy rating to the stock. According to MarketBeat, Amgen currently has a consensus rating of “Hold” and an average target price of $314.91.

Amgen Price Performance

Amgen stock opened at $277.88 on Friday. 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 firm has a market capitalization of $149.37 billion, a P/E ratio of 35.58, a PEG ratio of 2.79 and a beta of 0.56. The firm has a fifty day moving average of $271.91 and a 200-day moving average of $306.43. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85.

Amgen (NASDAQ:AMGN) last released 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 return on equity of 168.35% and a net margin of 13.00%. The company had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. During the same period last year, the company posted $4.96 earnings per share. The firm’s revenue was up 23.2% compared to the same quarter last year. As a group, analysts predict that Amgen Inc. will post 19.57 EPS for the current year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be issued a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio is currently 115.24%.

Amgen Company 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.