Bourgeon Capital Management LLC Sells 14,207 Shares of Amgen Inc. (NASDAQ:AMGN)

Bourgeon Capital Management LLC lessened its stake in Amgen Inc. (NASDAQ:AMGN) by 26.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 39,839 shares of the medical research company’s stock after selling 14,207 shares during the quarter. Amgen makes up about 1.9% of Bourgeon Capital Management LLC’s investment portfolio, making the stock its 21st largest position. Bourgeon Capital Management LLC’s holdings in Amgen were worth $10,384,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Ascent Group LLC increased its position in Amgen by 0.3% during the second quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock worth $3,421,000 after buying an additional 31 shares during the period. Cadinha & Co. LLC increased its holdings in shares of Amgen by 0.6% in the 3rd quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock valued at $1,678,000 after acquiring an additional 32 shares during the period. Lansing Street Advisors raised its position in Amgen by 1.3% in the 3rd quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock valued at $832,000 after purchasing an additional 32 shares during the last quarter. Unionview LLC boosted its stake in Amgen by 3.8% during the 3rd quarter. Unionview LLC now owns 876 shares of the medical research company’s stock worth $282,000 after purchasing an additional 32 shares during the period. Finally, Traveka Wealth LLC grew its position in Amgen by 4.3% during the 3rd quarter. Traveka Wealth LLC now owns 807 shares of the medical research company’s stock worth $260,000 after purchasing an additional 33 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on AMGN shares. Wells Fargo & Company reduced their target price on shares of Amgen from $335.00 to $280.00 and set an “equal weight” rating for the company in a report on Friday, January 10th. William Blair reaffirmed an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. Wolfe Research started coverage on Amgen in a research note on Friday, November 15th. They set a “peer perform” rating for the company. UBS Group decreased their price target on Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Finally, Jefferies Financial Group restated a “buy” rating and set a $380.00 price objective on shares of Amgen in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $314.91.

Amgen Trading Up 1.0 %

Shares of Amgen stock opened at $274.81 on Wednesday. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The business has a 50 day moving average price of $272.95 and a 200 day moving average price of $306.92. 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 (NASDAQ:AMGN) last released its earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. During the same period in the prior year, the firm posted $4.96 earnings per share. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. Sell-side analysts anticipate that Amgen Inc. will post 19.57 EPS for the current fiscal year.

Amgen Increases Dividend

The firm 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 dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 3.46%. This is a boost from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s dividend payout ratio is 115.24%.

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.