Procyon Advisors LLC Sells 659 Shares of Amgen Inc. (NASDAQ:AMGN)

Procyon Advisors LLC decreased its position in Amgen Inc. (NASDAQ:AMGN) by 5.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,156 shares of the medical research company’s stock after selling 659 shares during the quarter. Procyon Advisors LLC’s holdings in Amgen were worth $3,213,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Amgen by 1.7% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 11,658 shares of the medical research company’s stock worth $3,133,000 after buying an additional 193 shares during the last quarter. Diversified Trust Co boosted its holdings in shares of Amgen by 76.8% in the 4th quarter. Diversified Trust Co now owns 37,695 shares of the medical research company’s stock worth $10,857,000 after buying an additional 16,376 shares during the last quarter. Nicolet Advisory Services LLC boosted its holdings in shares of Amgen by 4.4% in the 3rd quarter. Nicolet Advisory Services LLC now owns 2,805 shares of the medical research company’s stock worth $745,000 after buying an additional 117 shares during the last quarter. Platform Technology Partners boosted its holdings in shares of Amgen by 7.4% in the 3rd quarter. Platform Technology Partners now owns 5,830 shares of the medical research company’s stock worth $1,567,000 after buying an additional 402 shares during the last quarter. Finally, Busey Trust CO boosted its holdings in shares of Amgen by 1.2% in the 3rd quarter. Busey Trust CO now owns 76,703 shares of the medical research company’s stock worth $20,615,000 after buying an additional 894 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Price Performance

Shares of AMGN traded down $0.16 during midday trading on Thursday, hitting $286.14. 235,510 shares of the company traded hands, compared to its average volume of 3,006,048. The stock has a 50-day moving average of $290.44 and a 200-day moving average of $280.66. Amgen Inc. has a one year low of $211.71 and a one year high of $329.72. The firm has a market cap of $153.35 billion, a P/E 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 current ratio of 1.65 and a quick ratio of 1.13.

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

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be given a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend payout ratio (DPR) is 72.06%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on AMGN shares. SVB Leerink downgraded shares of Amgen from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $324.00 to $318.00 in a report on Wednesday, February 7th. Leerink Partnrs downgraded shares of Amgen from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 7th. Daiwa Capital Markets raised shares of Amgen from a “neutral” rating to a “buy” rating and upped their price objective for the company from $264.00 to $320.00 in a report on Thursday, December 21st. BMO Capital Markets raised shares of Amgen from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $286.00 to $326.00 in a report on Tuesday, December 19th. Finally, Royal Bank of Canada upped their price objective on shares of Amgen from $303.00 to $329.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $295.30.

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.