Alpha Omega Wealth Management LLC Sells 95 Shares of Amgen Inc. (NASDAQ:AMGN)

Alpha Omega Wealth Management LLC trimmed its position in Amgen Inc. (NASDAQ:AMGN) by 4.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,893 shares of the medical research company’s stock after selling 95 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in Amgen were worth $545,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in AMGN. Moneta Group Investment Advisors LLC increased its stake in shares of Amgen by 83,875.6% in the fourth 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 buying an additional 7,532,031 shares during the period. Norges Bank bought a new position in shares of Amgen in the 4th quarter worth $1,351,778,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Amgen by 158.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,950,013 shares of the medical research company’s stock valued at $774,791,000 after buying an additional 1,806,456 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Amgen during the 4th quarter valued at about $4,589,900,000. Finally, Morgan Stanley boosted its position in shares of 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 buying an additional 1,523,665 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on AMGN shares. Truist Financial reiterated a “buy” rating and set a $320.00 target price on shares of Amgen in a research note on Friday, April 12th. 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 boosted their target price for the company from $264.00 to $320.00 in a report on Thursday, December 21st. SVB Leerink lowered 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. Finally, Raymond James began coverage on Amgen in a research note on Thursday, March 28th. They set a “market perform” rating on the stock. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Amgen has an average rating of “Hold” and a consensus target price of $295.30.

Amgen Price Performance

NASDAQ AMGN traded up $0.54 during trading hours on Wednesday, reaching $266.18. 1,184,342 shares of the stock traded hands, compared to its average volume of 2,848,539. The stock has a 50 day simple moving average of $278.62 and a two-hundred day simple moving average of $281.49. Amgen Inc. has a 1 year low of $211.71 and a 1 year high of $329.72. The company has a debt-to-equity ratio of 10.14, a current ratio of 1.65 and a quick ratio of 1.13. The company has a market cap of $142.65 billion, a price-to-earnings ratio of 21.27, a price-to-earnings-growth ratio of 2.47 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.66 by $0.05. The business had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.13 billion. Amgen had a return on equity of 154.27% and a net margin of 23.83%. During the same quarter in the prior year, the firm earned $4.09 earnings per share. Amgen’s revenue for the quarter was up 19.8% on a year-over-year basis. On average, analysts predict that Amgen Inc. will post 19.47 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. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.38%. Amgen’s dividend payout ratio (DPR) is currently 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.