Toth Financial Advisory Corp Trims Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Toth Financial Advisory Corp cut its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 2.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 25,562 shares of the medical research company’s stock after selling 557 shares during the period. Toth Financial Advisory Corp’s holdings in Amgen were worth $6,662,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in AMGN. GSB Wealth Management LLC raised its holdings in shares of Amgen by 5.9% in the 4th quarter. GSB Wealth Management LLC now owns 12,978 shares of the medical research company’s stock valued at $3,383,000 after buying an additional 721 shares during the period. Grimes & Company Inc. increased its stake in Amgen by 0.8% during the fourth quarter. Grimes & Company Inc. now owns 92,264 shares of the medical research company’s stock worth $24,048,000 after purchasing an additional 760 shares during the period. Lantz Financial LLC lifted its position in shares of Amgen by 14.0% during the fourth quarter. Lantz Financial LLC now owns 1,794 shares of the medical research company’s stock worth $467,000 after purchasing an additional 220 shares in the last quarter. Cyndeo Wealth Partners LLC boosted its stake in shares of Amgen by 2.6% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 2,142 shares of the medical research company’s stock valued at $558,000 after purchasing an additional 55 shares during the period. Finally, Dynamic Advisor Solutions LLC grew its holdings in shares of Amgen by 18.4% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 26,337 shares of the medical research company’s stock valued at $6,864,000 after purchasing an additional 4,094 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $275.42 on Friday. The company’s fifty day moving average is $271.39 and its two-hundred day moving average is $305.99. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The firm has a market capitalization of $148.05 billion, a P/E ratio of 35.27, a PEG ratio of 2.78 and a beta of 0.56. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85.

Amgen (NASDAQ:AMGN) last issued its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping 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 company had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. During the same period in the prior year, the business posted $4.96 earnings per share. The firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. Analysts forecast that Amgen Inc. will post 19.56 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 $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 yield of 3.46%. The ex-dividend date is Friday, February 14th. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on AMGN shares. Wolfe Research initiated coverage on shares of Amgen in a research report on Friday, November 15th. They issued a “peer perform” rating for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $405.00 target price on shares of Amgen in a report on Tuesday, October 22nd. William Blair restated an “outperform” rating on shares of Amgen in a report on Tuesday, November 12th. Redburn Partners decreased their price objective on Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Finally, Truist Financial cut their target price on shares of Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $314.65.

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.