Amgen Inc. (NASDAQ:AMGN) Shares Sold by New England Research & Management Inc.

New England Research & Management Inc. cut its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 48.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,469 shares of the medical research company's stock after selling 5,105 shares during the period. New England Research & Management Inc.'s holdings in Amgen were worth $1,425,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

AMGN has been the subject of a number of research reports. Citigroup reduced their price target on shares of Amgen from $310.00 to $295.00 and set a "neutral" rating for the company in a research report on Tuesday. Piper Sandler Companies reiterated an "overweight" rating and set a $310.00 target price on shares of Amgen in a research report on Thursday, January 2nd. Wolfe Research started coverage on Amgen in a research report on Friday, November 15th. They issued a "peer perform" rating for the company. Cantor Fitzgerald reiterated an "overweight" rating and issued a $405.00 price objective on shares of Amgen in a research report on Tuesday, October 22nd. Finally, Leerink Partners dropped their target price on shares of Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $314.00.

Amgen Stock Up 1.2 %

AMGN stock traded up $3.32 during trading on Thursday, reaching $285.00. The stock had a trading volume of 1,408,579 shares, compared to its average volume of 2,959,880. The firm has a fifty day moving average price of $271.35 and a 200 day moving average price of $304.99. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The company has a market capitalization of $153.20 billion, a P/E ratio of 36.49, a PEG ratio of 2.78 and a beta of 0.56. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last released its earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating the consensus estimate of $5.11 by $0.47. The company 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 business's revenue was up 23.2% on a year-over-year basis. During the same period in the prior year, the business posted $4.96 EPS. On average, equities analysts anticipate that Amgen Inc. will post 19.56 earnings per share for the current year.

Amgen Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be paid a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.34%. This is an increase from Amgen's previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. Amgen's dividend payout ratio (DPR) is 115.24%.

Amgen Company 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.