Amgen Inc. (NASDAQ:AMGN) Shares Sold by MV Capital Management Inc.

MV Capital Management Inc. reduced its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 0.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,785 shares of the medical research company’s stock after selling 72 shares during the period. MV Capital Management Inc.’s holdings in Amgen were worth $2,242,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Briaud Financial Planning Inc acquired a new position in Amgen during the third quarter valued at $26,000. OFI Invest Asset Management acquired a new position in Amgen during the third quarter valued at $26,000. Planned Solutions Inc. acquired a new position in Amgen during the fourth quarter valued at $30,000. Providence Capital Advisors LLC acquired a new position in Amgen during the third quarter valued at $30,000. Finally, Hartford Financial Management Inc. lifted its position in Amgen by 56.9% during the fourth quarter. Hartford Financial Management Inc. now owns 113 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 41 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Truist Financial restated a “buy” rating and set a $320.00 target price on shares of Amgen in a research report on Friday. Morgan Stanley decreased their target price on shares of Amgen from $281.00 to $278.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 7th. Raymond James began coverage on shares of Amgen in a research report on Thursday, March 28th. They issued a “market perform” rating for the company. Leerink Partnrs downgraded shares of Amgen from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 7th. Finally, SVB Leerink downgraded shares of Amgen from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $324.00 to $318.00 in a research report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Amgen has a consensus rating of “Hold” and a consensus price target of $295.30.

Amgen Price Performance

Shares of AMGN stock traded down $2.72 on Friday, reaching $267.28. 2,140,134 shares of the company were exchanged, compared to its average volume of 2,594,482. Amgen Inc. has a 1 year low of $211.71 and a 1 year high of $329.72. The company has a market cap of $143.24 billion, a price-to-earnings ratio of 21.40, a P/E/G ratio of 2.55 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. The business has a 50-day moving average price of $280.76 and a 200 day moving average price of $281.38.

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 the consensus estimate of $4.66 by $0.05. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The company had revenue of $8.20 billion during the quarter, compared to analysts’ expectations of $8.13 billion. During the same quarter in the prior year, the company earned $4.09 EPS. Amgen’s revenue was up 19.8% compared to the same quarter last year. Equities research analysts forecast that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be paid a dividend of $2.25 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $9.00 annualized dividend and a yield of 3.37%. Amgen’s dividend payout ratio is presently 72.06%.

About Amgen

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.