Cary Street Partners Investment Advisory LLC Trims Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Cary Street Partners Investment Advisory LLC trimmed its position in Amgen Inc. (NASDAQ:AMGN) by 86.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,190 shares of the medical research company’s stock after selling 7,464 shares during the period. Cary Street Partners Investment Advisory LLC’s holdings in Amgen were worth $343,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AMGN. OFI Invest Asset Management purchased a new stake in Amgen during the third quarter valued at $26,000. Briaud Financial Planning Inc purchased a new stake in Amgen during the third quarter valued at $26,000. BOK Financial Private Wealth Inc. purchased a new stake in Amgen during the fourth quarter valued at $29,000. Providence Capital Advisors LLC purchased a new stake in Amgen in the third quarter worth about $30,000. Finally, Planned Solutions Inc. purchased a new stake in Amgen in the fourth quarter worth about $30,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Morgan Stanley reduced their price target on Amgen from $281.00 to $278.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 7th. Truist Financial reissued a “buy” rating and set a $320.00 price target on shares of Amgen in a research note on Friday, April 12th. Leerink Partnrs lowered Amgen from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 7th. Royal Bank of Canada reissued an “outperform” rating and set a $329.00 price target on shares of Amgen in a research note on Wednesday, April 3rd. Finally, The Goldman Sachs Group increased their price target on Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $297.40.

Amgen Stock Performance

Shares of AMGN stock opened at $277.37 on Thursday. Amgen Inc. has a 1 year low of $211.71 and a 1 year high of $329.72. The firm has a market cap of $148.78 billion, a price-to-earnings ratio of 22.21, a PEG ratio of 2.67 and a beta of 0.58. The stock’s 50-day moving average is $274.64 and its two-hundred day moving average is $281.35. The company has a debt-to-equity ratio of 10.14, a quick ratio of 1.13 and a current ratio of 1.65.

Amgen (NASDAQ:AMGN) last announced its earnings results 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 business had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.13 billion. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The business’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.09 earnings per share. Analysts predict that Amgen Inc. will post 19.43 earnings per share for the current year.

Amgen Announces Dividend

The firm 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 3.24%. Amgen’s dividend payout ratio (DPR) is 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.