SVB Wealth LLC Sells 922 Shares of Amgen Inc. (NASDAQ:AMGN)

SVB Wealth LLC lowered its holdings in Amgen Inc. (NASDAQ:AMGN) by 3.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 27,253 shares of the medical research company’s stock after selling 922 shares during the period. SVB Wealth LLC’s holdings in Amgen were worth $7,849,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Amgen by 0.3% in the third quarter. Vanguard Group Inc. now owns 49,035,981 shares of the medical research company’s stock valued at $13,178,910,000 after buying an additional 165,636 shares in the last quarter. Morgan Stanley boosted its position in Amgen by 12.9% in 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 in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Amgen by 1.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 8,819,690 shares of the medical research company’s stock valued at $2,132,778,000 after buying an additional 94,565 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its position in 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 in the last quarter. Finally, Northern Trust Corp boosted its position in Amgen by 3.8% in the third quarter. Northern Trust Corp now owns 6,977,625 shares of the medical research company’s stock valued at $1,875,306,000 after buying an additional 255,463 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Trading Up 0.0 %

AMGN opened at $265.64 on Wednesday. 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 $142.36 billion, a price-to-earnings ratio of 21.27, a price-to-earnings-growth ratio of 2.53 and a beta of 0.58. The firm has a 50 day simple moving average of $278.62 and a 200 day simple moving average of $281.49. Amgen Inc. has a fifty-two week low of $211.71 and a fifty-two week high of $329.72.

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

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be paid a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 3.39%. The ex-dividend date is Thursday, May 16th. Amgen’s payout ratio is presently 72.06%.

Analyst Upgrades and Downgrades

AMGN has been the topic of a number of recent analyst reports. The Goldman Sachs Group boosted their price target on shares of Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. StockNews.com lowered shares of Amgen from a “buy” rating to a “hold” rating in a research report on Thursday, March 28th. BMO Capital Markets upgraded shares of Amgen from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $286.00 to $326.00 in a research report on Tuesday, December 19th. Leerink Partnrs lowered shares of Amgen from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 7th. Finally, Truist Financial reiterated a “buy” rating and set a $320.00 target price on shares of Amgen in a research report on Friday, April 12th. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $295.30.

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.