Amgen Inc. (NASDAQ:AMGN) Shares Sold by New England Research & Management Inc.

New England Research & Management Inc. cut its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 48.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 5,469 shares of the medical research company’s stock after selling 5,105 shares during the period. New England Research & Management Inc.’s holdings in Amgen were worth $1,425,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cadinha & Co. LLC increased its stake in Amgen by 0.6% in the third quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock valued at $1,678,000 after purchasing an additional 32 shares in the last quarter. Lansing Street Advisors raised its stake in Amgen by 1.3% during the 3rd quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock worth $832,000 after buying an additional 32 shares during the period. Unionview LLC lifted its holdings in Amgen by 3.8% during the third quarter. Unionview LLC now owns 876 shares of the medical research company’s stock worth $282,000 after acquiring an additional 32 shares in the last quarter. Traveka Wealth LLC grew its stake in Amgen by 4.3% in the third quarter. Traveka Wealth LLC now owns 807 shares of the medical research company’s stock valued at $260,000 after acquiring an additional 33 shares during the period. Finally, AM Investment Strategies LLC increased its holdings in shares of Amgen by 0.4% in the third quarter. AM Investment Strategies LLC now owns 7,471 shares of the medical research company’s stock worth $2,407,000 after acquiring an additional 33 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Truist Financial cut their price target 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. Citigroup dropped their price target on Amgen from $310.00 to $295.00 and set a “neutral” rating on the stock in a research note on Tuesday. Deutsche Bank Aktiengesellschaft reduced their price objective on Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Bank of America restated an “underperform” rating and issued a $256.00 target price on shares of Amgen in a research note on Tuesday, December 10th. Finally, William Blair reiterated an “outperform” rating on shares of Amgen in a report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $314.00.

Amgen Trading Up 0.5 %

Shares of Amgen stock opened at $281.68 on Thursday. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The company has a market capitalization of $151.41 billion, a price-to-earnings ratio of 36.07, a PEG ratio of 2.78 and a beta of 0.56. The firm’s 50-day moving average price is $271.48 and its two-hundred day moving average price is $305.15.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) 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 business had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. During the same quarter last year, the business posted $4.96 EPS. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. On average, analysts forecast that Amgen Inc. will post 19.56 earnings per share for the current fiscal year.

Amgen Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be given a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date is Friday, February 14th. This is a boost from Amgen’s previous quarterly dividend of $2.25. Amgen’s payout ratio is currently 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.