Amgen Inc. (NASDAQ:AMGN) Stake Lowered by RFG Advisory LLC

RFG Advisory LLC cut its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 4.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,341 shares of the medical research company’s stock after selling 489 shares during the quarter. RFG Advisory LLC’s holdings in Amgen were worth $2,695,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in AMGN. Capital Performance Advisors LLP bought a new position in shares of Amgen during the third quarter valued at approximately $25,000. Legacy Investment Solutions LLC bought a new position in shares of Amgen during the third quarter valued at approximately $29,000. Hershey Financial Advisers LLC bought a new position in shares of Amgen during the second quarter valued at approximately $30,000. Matrix Trust Co bought a new position in shares of Amgen during the third quarter valued at approximately $36,000. Finally, Livelsberger Financial Advisory bought a new position in shares of Amgen during the third quarter valued at approximately $56,000. 76.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Bank of America reissued an “underperform” rating and issued a $256.00 price objective on shares of Amgen in a report on Tuesday, December 10th. StockNews.com lowered Amgen from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. Truist Financial decreased their price objective on Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Citigroup decreased their price objective on Amgen from $335.00 to $310.00 in a report on Wednesday, November 27th. Finally, Barclays increased their price objective on Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $314.65.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $275.42 on Friday. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The stock has a fifty day moving average of $271.55 and a 200-day moving average of $306.24. The company has a market capitalization of $148.05 billion, a PE ratio of 35.27, a price-to-earnings-growth ratio of 2.78 and a beta of 0.56. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32.

Amgen (NASDAQ:AMGN) last released its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The company had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.96 earnings per share. As a group, equities analysts anticipate that Amgen Inc. will post 19.56 EPS for the current fiscal year.

Amgen Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be issued a $2.38 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.46%. This is a positive change from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio is presently 121.90%.

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.