Diversify Advisory Services LLC Lowers Position in Amgen Inc. (NASDAQ:AMGN)

Diversify Advisory Services LLC lowered its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 32.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 7,320 shares of the medical research company's stock after selling 3,499 shares during the quarter. Diversify Advisory Services LLC's holdings in Amgen were worth $1,920,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Diversify Wealth Management LLC lifted its holdings in Amgen by 46.5% in the 4th quarter. Diversify Wealth Management LLC now owns 6,809 shares of the medical research company's stock worth $1,786,000 after buying an additional 2,162 shares during the period. Guardian Investment Management lifted its holdings in Amgen by 29.5% in the 4th quarter. Guardian Investment Management now owns 18,358 shares of the medical research company's stock worth $4,785,000 after buying an additional 4,179 shares during the period. Grove Bank & Trust lifted its holdings in Amgen by 3.5% in the 4th quarter. Grove Bank & Trust now owns 2,750 shares of the medical research company's stock worth $717,000 after buying an additional 93 shares during the period. Brady Martz Wealth Solutions LLC purchased a new stake in Amgen in the 4th quarter worth approximately $1,245,000. Finally, My Legacy Advisors LLC lifted its stake in shares of Amgen by 5.0% in the 4th quarter. My Legacy Advisors LLC now owns 3,065 shares of the medical research company's stock valued at $824,000 after purchasing an additional 147 shares during the period. Hedge funds and other institutional investors own 76.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AMGN. Sanford C. Bernstein began coverage on Amgen in a research note on Thursday, October 17th. They issued an "outperform" rating and a $380.00 target price for the company. UBS Group lowered their target price on Amgen from $335.00 to $326.00 and set a "neutral" rating for the company in a research note on Thursday, October 31st. Redburn Partners lowered their target price on Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Piper Sandler Companies restated an "overweight" rating and issued a $310.00 target price on shares of Amgen in a research note on Thursday, January 2nd. Finally, Wells Fargo & Company lowered their target price on Amgen from $335.00 to $280.00 and set an "equal weight" rating for the company in a research note on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $314.91.

Amgen Stock Performance

Shares of AMGN traded up $2.70 during trading hours on Tuesday, hitting $274.81. The stock had a trading volume of 3,927,929 shares, compared to its average volume of 3,185,471. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The firm has a market capitalization of $147.72 billion, a PE ratio of 35.19, a PEG ratio of 2.78 and a beta of 0.56. The stock has a fifty day moving average price of $272.95 and a 200 day moving average price of $306.92.

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

Amgen Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be given a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Amgen's previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a yield of 3.46%. Amgen's payout ratio is 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.