Amgen Inc. (NASDAQ:AMGN) Stock Position Lessened by Washington Trust Advisors Inc.

Washington Trust Advisors Inc. lowered its holdings in Amgen Inc. (NASDAQ:AMGN) by 12.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,190 shares of the medical research company’s stock after selling 171 shares during the period. Washington Trust Advisors Inc.’s holdings in Amgen were worth $343,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Moneta Group Investment Advisors LLC raised its holdings in shares of Amgen by 83,875.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,541,011 shares of the medical research company’s stock valued at $1,980,571,000 after purchasing an additional 7,532,031 shares in the last quarter. Norges Bank bought a new position in shares of Amgen in the 4th quarter valued at approximately $1,351,778,000. Price T Rowe Associates Inc. MD lifted its holdings in Amgen by 158.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,950,013 shares of the medical research company’s stock worth $774,791,000 after purchasing an additional 1,806,456 shares during the last quarter. Morgan Stanley boosted its holdings in Amgen by 12.9% during the fourth quarter. Morgan Stanley now owns 13,301,365 shares of the medical research company’s stock valued at $3,493,471,000 after acquiring an additional 1,523,665 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Amgen by 164.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,337,970 shares of the medical research company’s stock worth $323,548,000 after acquiring an additional 832,885 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Royal Bank of Canada increased their price target on Amgen from $303.00 to $329.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Truist Financial reaffirmed a “buy” rating and issued a $320.00 target price on shares of Amgen in a research report on Wednesday, November 29th. Raymond James started coverage on Amgen in a research note on Thursday. They issued a “market perform” rating for the company. Morgan Stanley decreased their target price on Amgen from $281.00 to $278.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 7th. Finally, Daiwa Capital Markets upgraded Amgen from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $264.00 to $320.00 in a research report on Thursday, December 21st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $295.30.

Amgen Stock Down 0.5 %

Shares of AMGN stock traded down $1.57 during mid-day trading on Thursday, hitting $284.73. The company’s stock had a trading volume of 829,698 shares, compared to its average volume of 3,015,711. The business has a 50-day moving average price of $290.44 and a 200 day moving average price of $280.66. Amgen Inc. has a 52-week low of $211.71 and a 52-week high of $329.72. The stock has a market cap of $152.59 billion, a price-to-earnings ratio of 23.02, a PEG ratio of 2.66 and a beta of 0.58. The company has a debt-to-equity ratio of 10.14, a quick ratio of 1.13 and a current ratio of 1.65.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.66 by $0.05. The company had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.13 billion. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The firm’s revenue was up 19.8% on a year-over-year basis. During the same period in the previous year, the company posted $4.09 EPS. Research analysts predict that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date is Thursday, May 16th. Amgen’s dividend payout ratio (DPR) is presently 72.06%.

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.