Albion Financial Group UT Sells 359 Shares of Amgen Inc. (NASDAQ:AMGN)

Albion Financial Group UT decreased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 1.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,323 shares of the medical research company’s stock after selling 359 shares during the period. Albion Financial Group UT’s holdings in Amgen were worth $6,861,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of AMGN. Pathway Financial Advisers LLC boosted its stake in Amgen by 33,125.4% during the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock worth $1,437,115,000 after acquiring an additional 4,446,757 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Amgen by 6,812.4% during the third quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock valued at $8,130,610,000 after purchasing an additional 2,486,882 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Amgen by 561.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock worth $496,117,000 after purchasing an additional 1,306,982 shares in the last quarter. Granite Bay Wealth Management LLC increased its position in Amgen by 9,058.1% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock valued at $223,897,000 after buying an additional 748,200 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in Amgen by 40.7% during the 4th quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company’s stock valued at $609,526,000 after buying an additional 676,598 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $274.81 on Wednesday. The company has a market capitalization of $147.72 billion, a P/E ratio of 35.19, a P/E/G ratio of 2.78 and a beta of 0.56. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The firm’s 50 day simple moving average is $272.47 and its two-hundred day simple moving average is $306.67. 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 (NASDAQ:AMGN) last released its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $8.50 billion. During the same quarter in the previous year, the company earned $4.96 EPS. Amgen’s revenue for the quarter was up 23.2% on a year-over-year basis. Research analysts expect that Amgen Inc. will post 19.57 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. Investors of record on Friday, February 14th will be paid a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.46%. The ex-dividend date is Friday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio (DPR) is 115.24%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on AMGN shares. Deutsche Bank Aktiengesellschaft cut their target price on Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Robert W. Baird restated an “underperform” rating and issued a $215.00 price objective on shares of Amgen in a report on Wednesday, September 25th. Piper Sandler Companies reiterated an “overweight” rating and set a $310.00 target price on shares of Amgen in a research note on Thursday, January 2nd. Bank of America reissued an “underperform” rating and issued a $256.00 target price on shares of Amgen in a report on Tuesday, December 10th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 price target on shares of Amgen in a report on Tuesday, November 12th. Two investment 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 data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $314.91.

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.