Cohen Klingenstein LLC Sells 1,750 Shares of Amgen Inc. (NASDAQ:AMGN)

Cohen Klingenstein LLC reduced its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 5.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,270 shares of the medical research company's stock after selling 1,750 shares during the quarter. Cohen Klingenstein LLC's holdings in Amgen were worth $8,150,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Capital Performance Advisors LLP acquired a new stake in shares of Amgen in the third quarter worth $25,000. Legacy Investment Solutions LLC purchased a new position in shares of Amgen during the 3rd quarter valued at $29,000. Hershey Financial Advisers LLC acquired a new position in Amgen in the 2nd quarter worth about $30,000. Matrix Trust Co bought a new position in Amgen during the third quarter valued at approximately $36,000. Finally, Livelsberger Financial Advisory acquired a new stake in shares of Amgen in the 3rd quarter valued at $56,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on AMGN. Leerink Partners decreased their target price on Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Piper Sandler Companies reiterated an "overweight" rating and issued a $310.00 target price on shares of Amgen in a report on Thursday, January 2nd. Redburn Partners decreased their price target on shares of Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Bank of America reiterated an "underperform" rating and issued a $256.00 price objective on shares of Amgen in a research note on Tuesday, December 10th. Finally, William Blair reaffirmed an "outperform" rating on shares of Amgen in a report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $314.91.

Amgen Trading Up 1.0 %

AMGN stock traded up $2.68 during midday trading on Friday, reaching $272.11. The stock had a trading volume of 3,244,015 shares, compared to its average volume of 3,140,853. The firm has a market cap of $146.27 billion, a price-to-earnings ratio of 34.84, a PEG ratio of 2.68 and a beta of 0.56. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The business has a fifty day simple moving average of $273.95 and a two-hundred day simple moving average of $307.20.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping analysts' consensus estimates of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business had revenue of $8.50 billion during the quarter, compared to analysts' expectations of $8.50 billion. During the same period in the previous year, the firm earned $4.96 earnings per share. The firm's quarterly revenue was up 23.2% compared to the same quarter last year. As a group, research analysts expect that Amgen Inc. will post 19.57 EPS for the current fiscal year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be issued a $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 3.50%. The ex-dividend date is Friday, February 14th. This is a boost from Amgen's previous quarterly dividend of $2.25. Amgen's dividend payout ratio 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.