Forsta AP Fonden Sells 4,200 Shares of Amgen Inc. (NASDAQ:AMGN)

Forsta AP Fonden trimmed its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 3.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 126,400 shares of the medical research company's stock after selling 4,200 shares during the quarter. Forsta AP Fonden's holdings in Amgen were worth $32,945,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of AMGN. Magnolia Capital Advisors LLC acquired a new stake in Amgen in the 2nd quarter valued at about $486,000. Northwestern Mutual Wealth Management Co. raised its holdings in Amgen by 3.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 51,851 shares of the medical research company's stock worth $16,199,000 after buying an additional 1,920 shares during the period. Regal Investment Advisors LLC raised its holdings in Amgen by 1.5% during the 2nd quarter. Regal Investment Advisors LLC now owns 4,171 shares of the medical research company's stock worth $1,303,000 after buying an additional 63 shares during the period. EP Wealth Advisors LLC raised its holdings in Amgen by 25.5% during the 2nd quarter. EP Wealth Advisors LLC now owns 29,828 shares of the medical research company's stock worth $9,320,000 after buying an additional 6,059 shares during the period. Finally, Pathway Financial Advisers LLC raised its holdings in Amgen by 2.0% during the 2nd quarter. Pathway Financial Advisers LLC now owns 13,424 shares of the medical research company's stock worth $4,159,000 after buying an additional 257 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Price Performance

Shares of NASDAQ:AMGN traded up $1.38 during midday trading on Wednesday, reaching $281.68. The company's stock had a trading volume of 2,451,885 shares, compared to its average volume of 3,051,681. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The company has a market capitalization of $151.41 billion, a P/E ratio of 36.07, a P/E/G ratio of 2.78 and a beta of 0.56. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The business's fifty day simple moving average is $271.48 and its 200-day simple moving average is $305.15.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings results 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 company had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. During the same quarter last year, the firm posted $4.96 earnings per share. Amgen's revenue was up 23.2% compared to the same quarter last year. As a group, equities research analysts expect that Amgen Inc. will post 19.56 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. Shareholders of record on Friday, February 14th will be given a dividend of $2.38 per share. This is a positive change from Amgen's previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 annualized dividend and a dividend yield of 3.38%. Amgen's payout ratio is 115.24%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AMGN. William Blair restated an "outperform" rating on shares of Amgen in a report on Tuesday, November 12th. Wells Fargo & Company cut their price objective on Amgen from $335.00 to $280.00 and set an "equal weight" rating on the stock in a report on Friday, January 10th. Piper Sandler Companies restated an "overweight" rating and set a $310.00 price objective on shares of Amgen in a report on Thursday, January 2nd. UBS Group dropped their target price on Amgen from $335.00 to $326.00 and set a "neutral" rating on the stock in a report on Thursday, October 31st. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $405.00 target price on shares of Amgen in a report on Tuesday, October 22nd. Two investment 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 data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $314.00.

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.