Colton Groome Financial Advisors LLC Has $1.11 Million Stake in Amgen Inc. (NASDAQ:AMGN)

Colton Groome Financial Advisors LLC lessened its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 36.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,253 shares of the medical research company's stock after selling 2,491 shares during the period. Colton Groome Financial Advisors LLC's holdings in Amgen were worth $1,109,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in shares of Amgen in the 3rd quarter valued at approximately $25,000. Legacy Investment Solutions LLC bought a new stake in Amgen in the third quarter valued at $29,000. Matrix Trust Co bought a new position in shares of Amgen during the third quarter valued at $36,000. Livelsberger Financial Advisory acquired a new stake in shares of Amgen in the 3rd quarter valued at $56,000. Finally, Icon Wealth Advisors LLC increased its position in shares of Amgen by 3,955.0% during the 3rd quarter. Icon Wealth Advisors LLC now owns 174,040 shares of the medical research company's stock worth $56,000 after purchasing an additional 169,748 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. StockNews.com cut shares of Amgen from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, December 18th. Leerink Partners cut their price objective on Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Jefferies Financial Group restated a "buy" rating and set a $380.00 target price on shares of Amgen in a report on Tuesday, November 12th. Wells Fargo & Company reduced their price target on shares of Amgen from $335.00 to $280.00 and set an "equal weight" rating on the stock in a research report on Friday, January 10th. Finally, Bank of America reaffirmed an "underperform" rating and issued a $256.00 target price on shares of Amgen in a research note on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Amgen currently has an average rating of "Hold" and an average target price of $314.00.

Amgen Stock Up 0.5 %

AMGN stock traded up $1.40 during mid-day trading on Friday, hitting $285.42. 3,799,348 shares of the company were exchanged, compared to its average volume of 3,064,420. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The firm's 50 day simple moving average is $271.24 and its 200 day simple moving average is $304.84. The firm has a market cap of $153.42 billion, a P/E ratio of 36.55, a P/E/G ratio of 2.85 and a beta of 0.56.

Amgen (NASDAQ:AMGN - Get Free Report) last released its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.11 by $0.47. The firm had revenue of $8.50 billion during the quarter, compared to analysts' expectations of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company's revenue was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.96 EPS. On average, sell-side analysts predict that Amgen Inc. will post 19.56 EPS for the current fiscal year.

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be paid a $2.38 dividend. This is a positive change from Amgen's previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend is Friday, February 14th. Amgen's payout ratio is presently 115.24%.

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.