Resonant Capital Advisors LLC Decreases Stock Position in Amgen Inc. (NASDAQ:AMGN)

Resonant Capital Advisors LLC reduced its position in Amgen Inc. (NASDAQ:AMGN) by 8.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,573 shares of the medical research company’s stock after selling 1,073 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Amgen were worth $3,333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. OFI Invest Asset Management bought a new stake in Amgen during the third quarter valued at $26,000. Briaud Financial Planning Inc bought a new stake in Amgen during the third quarter valued at $26,000. Strategic Investment Solutions Inc. IL purchased a new stake in Amgen during the first quarter valued at about $28,000. BOK Financial Private Wealth Inc. purchased a new stake in Amgen during the fourth quarter valued at about $29,000. Finally, Providence Capital Advisors LLC purchased a new stake in Amgen during the third quarter valued at about $30,000. 76.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AMGN has been the topic of a number of research reports. UBS Group lowered their price target on Amgen from $314.00 to $284.00 and set a “neutral” rating on the stock in a research report on Wednesday. Oppenheimer reissued an “outperform” rating and issued a $350.00 target price on shares of Amgen in a research note on Thursday, February 1st. Raymond James started coverage on Amgen in a research note on Thursday, March 28th. They issued a “market perform” rating for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $329.00 target price on shares of Amgen in a research note on Wednesday, April 3rd. Finally, Truist Financial reissued a “buy” rating and issued a $320.00 target price on shares of Amgen in a research note on Friday, April 12th. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $296.95.

Amgen Stock Up 2.4 %

AMGN traded up $6.32 during trading on Friday, hitting $269.07. 1,865,544 shares of the company’s stock traded hands, compared to its average volume of 2,836,167. The company’s 50 day simple moving average is $277.34 and its two-hundred day simple moving average is $281.24. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 10.14. Amgen Inc. has a 12-month low of $211.71 and a 12-month high of $329.72. The stock has a market capitalization of $144.20 billion, a price-to-earnings ratio of 21.22, a PEG ratio of 2.46 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 EPS for the quarter, beating the consensus estimate of $4.66 by $0.05. The business had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.13 billion. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The company’s revenue was up 19.8% compared to the same quarter last year. During the same period last year, the business posted $4.09 EPS. Analysts predict that Amgen Inc. will post 19.45 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be issued a dividend of $2.25 per share. The ex-dividend date is Thursday, May 16th. This represents a $9.00 annualized dividend and a dividend yield of 3.34%. Amgen’s payout ratio is 72.06%.

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.