E&G Advisors LP Sells 100 Shares of Amgen Inc. (NASDAQ:AMGN)

E&G Advisors LP lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 4.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,372 shares of the medical research company’s stock after selling 100 shares during the quarter. E&G Advisors LP’s holdings in Amgen were worth $618,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in Amgen in the third quarter valued at approximately $25,000. Legacy Investment Solutions LLC purchased a new stake in Amgen during the third quarter worth about $29,000. Matrix Trust Co purchased a new stake in Amgen during the third quarter valued at about $36,000. Heck Capital Advisors LLC bought a new stake in shares of Amgen during the fourth quarter valued at about $36,000. Finally, Livelsberger Financial Advisory purchased a new stake in Amgen during the third quarter valued at about $56,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Performance

NASDAQ:AMGN opened at $288.87 on Tuesday. The firm has a market capitalization of $155.28 billion, a PE ratio of 36.99, a price-to-earnings-growth ratio of 2.87 and a beta of 0.56. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The business’s fifty day moving average price is $271.06 and its 200 day moving average price is $304.11. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85.

Amgen Increases Dividend

The firm also recently declared 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 represents a $9.52 dividend on an annualized basis and a yield of 3.30%. This is an increase from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s dividend payout ratio is 115.24%.

Wall Street Analyst Weigh In

AMGN has been the topic of a number of research reports. UBS Group cut their target price on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Barclays upped their price target on Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft cut their target price on Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Cantor Fitzgerald reissued an “overweight” rating and set a $405.00 target price on shares of Amgen in a research report on Tuesday, October 22nd. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $380.00 price target on shares of Amgen in a report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $314.00.

About Amgen

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.