Jackson Wealth Management LLC cut its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 31.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,324 shares of the medical research company's stock after selling 1,960 shares during the quarter. Jackson Wealth Management LLC's holdings in Amgen were worth $1,127,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Capital Performance Advisors LLP bought a new position in shares of Amgen in the third quarter valued at about $25,000. Legacy Investment Solutions LLC bought a new position in shares of Amgen during the third quarter valued at $29,000. Matrix Trust Co bought a new position in shares of Amgen during the third quarter worth about $36,000. Heck Capital Advisors LLC bought a new position in shares of Amgen in the 4th quarter worth about $36,000. Finally, Livelsberger Financial Advisory acquired a new stake in shares of Amgen during the 3rd quarter worth approximately $56,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of analysts have commented on the company. Piper Sandler decreased their price objective on Amgen from $344.00 to $310.00 and set an "overweight" rating for the company in a report on Thursday, January 2nd. Wells Fargo & Company cut their price objective on shares of Amgen from $335.00 to $280.00 and set an "equal weight" rating for the company in a research report on Friday, January 10th. Bank of America reissued an "underperform" rating and issued a $256.00 target price on shares of Amgen in a research note on Tuesday, December 10th. Jefferies Financial Group reiterated a "buy" rating and issued a $380.00 price objective on shares of Amgen in a research report on Tuesday, November 12th. Finally, Leerink Partners lowered their price objective on Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $314.00.
Get Our Latest Stock Analysis on Amgen
Amgen Price Performance
NASDAQ:AMGN traded up $18.79 during mid-day trading on Wednesday, reaching $307.81. 5,890,521 shares of the stock were exchanged, compared to its average volume of 3,257,214. The firm has a market capitalization of $165.46 billion, a PE ratio of 39.41, a PEG ratio of 2.87 and a beta of 0.56. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The business has a fifty day moving average price of $271.14 and a 200 day moving average price of $303.52. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55.
Amgen (NASDAQ:AMGN - Get Free Report) last posted its earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, topping the consensus estimate of $5.04 by $0.27. Amgen had a net margin of 13.00% and a return on equity of 168.35%. Research analysts expect that Amgen Inc. will post 19.56 earnings per share for the current fiscal year.
Amgen Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be issued a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.09%. This is a boost from Amgen's previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. Amgen's payout ratio is currently 115.24%.
Amgen Profile
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Free Report)
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.
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