Gemmer Asset Management LLC Lowers Stock Position in Amgen Inc. (NASDAQ:AMGN)

Gemmer Asset Management LLC trimmed its stake in Amgen Inc. (NASDAQ:AMGN) by 5.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,344 shares of the medical research company’s stock after selling 79 shares during the period. Gemmer Asset Management LLC’s holdings in Amgen were worth $350,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in AMGN. Zhang Financial LLC boosted its position in shares of Amgen by 6.0% during the fourth quarter. Zhang Financial LLC now owns 16,165 shares of the medical research company’s stock worth $4,213,000 after buying an additional 915 shares during the period. Corundum Group Inc. boosted its holdings in Amgen by 103.3% during the 4th quarter. Corundum Group Inc. now owns 3,996 shares of the medical research company’s stock valued at $1,042,000 after acquiring an additional 2,030 shares during the period. Purus Wealth Management LLC grew its position in Amgen by 1.0% in the 4th quarter. Purus Wealth Management LLC now owns 8,387 shares of the medical research company’s stock valued at $2,186,000 after acquiring an additional 84 shares in the last quarter. M.E. Allison & CO. Inc. purchased a new stake in Amgen during the fourth quarter worth about $388,000. Finally, Willner & Heller LLC lifted its position in shares of Amgen by 81.9% during the fourth quarter. Willner & Heller LLC now owns 2,925 shares of the medical research company’s stock worth $762,000 after purchasing an additional 1,317 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Performance

Shares of AMGN opened at $272.11 on Monday. The company’s 50 day simple moving average is $273.95 and its 200-day simple moving average is $307.20. The firm has a market cap of $146.27 billion, a PE ratio of 34.84, a price-to-earnings-growth ratio of 2.68 and a beta of 0.56. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $8.50 billion. During the same period last year, the firm posted $4.96 EPS. Amgen’s revenue for the quarter was up 23.2% on a year-over-year basis. As a group, equities analysts predict that Amgen Inc. will post 19.57 EPS for the current year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be given a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.50%. 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%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Piper Sandler dropped their price objective on shares of Amgen from $344.00 to $310.00 and set an “overweight” rating for the company in a report on Thursday, January 2nd. Leerink Partners dropped their price target on shares of Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. UBS Group reduced their price objective on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Bank of America reissued an “underperform” rating and set a $256.00 target price on shares of Amgen in a research note on Tuesday, December 10th. Finally, Piper Sandler Companies reaffirmed an “overweight” rating and issued a $310.00 price target on shares of Amgen in a research report on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Amgen presently has an average rating of “Hold” and an average price target of $314.91.

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.