Amgen Inc. (NASDAQ:AMGN) Shares Sold by CFS Investment Advisory Services LLC

CFS Investment Advisory Services LLC cut its position in shares of Amgen Inc. (NASDAQ:AMGN) by 0.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,746 shares of the medical research company’s stock after selling 53 shares during the quarter. CFS Investment Advisory Services LLC’s holdings in Amgen were worth $2,280,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of AMGN. Capital Performance Advisors LLP purchased a new position in Amgen in the third quarter valued at approximately $25,000. Hershey Financial Advisers LLC purchased a new position in shares of Amgen in the 2nd quarter valued at $30,000. Legacy Investment Solutions LLC acquired a new position in shares of Amgen during the 3rd quarter valued at $29,000. Matrix Trust Co purchased a new stake in Amgen during the 3rd quarter worth $36,000. Finally, Livelsberger Financial Advisory acquired a new stake in Amgen in the 3rd quarter valued at $56,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on AMGN shares. Wolfe Research began coverage on Amgen in a research report on Friday, November 15th. They issued a “peer perform” rating for the company. Piper Sandler decreased their target price on shares of Amgen from $344.00 to $310.00 and set an “overweight” rating for the company in a research note on Thursday, January 2nd. Bank of America reaffirmed an “underperform” rating and set a $256.00 price target on shares of Amgen in a research note on Tuesday, December 10th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $405.00 price objective on shares of Amgen in a report on Tuesday, October 22nd. Finally, Truist Financial lowered their target price on Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Amgen has a consensus rating of “Hold” and an average price target of $314.65.

Amgen Trading Down 0.9 %

NASDAQ:AMGN opened at $275.42 on Friday. The firm has a market capitalization of $148.05 billion, a P/E ratio of 35.27, a P/E/G ratio of 2.78 and a beta of 0.56. The business has a 50 day simple moving average of $271.39 and a 200 day simple moving average of $305.99. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (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 company had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. During the same quarter in the previous year, the company posted $4.96 earnings per share. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. Equities research analysts predict that Amgen Inc. will post 19.56 EPS for the current year.

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be issued a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.46%. 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 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.