Valley National Advisers Inc. Has $3.17 Million Holdings in Amgen Inc. (NASDAQ:AMGN)

Valley National Advisers Inc. reduced its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 10.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,160 shares of the medical research company's stock after selling 1,374 shares during the quarter. Valley National Advisers Inc.'s holdings in Amgen were worth $3,169,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Centaurus Financial Inc. raised its position in Amgen by 16.8% during the second quarter. Centaurus Financial Inc. now owns 1,615 shares of the medical research company's stock valued at $505,000 after acquiring an additional 232 shares in the last quarter. AMF Tjanstepension AB raised its holdings in shares of Amgen by 16.9% during the 3rd quarter. AMF Tjanstepension AB now owns 120,389 shares of the medical research company's stock valued at $38,825,000 after purchasing an additional 17,387 shares in the last quarter. Czech National Bank lifted its stake in shares of Amgen by 7.1% in the 3rd quarter. Czech National Bank now owns 109,459 shares of the medical research company's stock valued at $35,269,000 after purchasing an additional 7,237 shares during the last quarter. Apella Capital LLC boosted its holdings in Amgen by 4.4% in the third quarter. Apella Capital LLC now owns 1,282 shares of the medical research company's stock worth $410,000 after purchasing an additional 54 shares in the last quarter. Finally, Private Client Services LLC acquired a new position in Amgen during the third quarter worth $225,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on AMGN. Cantor Fitzgerald reiterated an "overweight" rating and set a $405.00 price target on shares of Amgen in a research note on Tuesday, October 22nd. Royal Bank of Canada restated an "outperform" rating and issued a $324.00 target price on shares of Amgen in a report on Friday, January 24th. Bank of America reiterated an "underperform" rating and set a $256.00 price target on shares of Amgen in a report on Tuesday, December 10th. Piper Sandler reduced their price objective on shares of Amgen from $344.00 to $310.00 and set an "overweight" rating for the company in a research note on Thursday, January 2nd. Finally, StockNews.com lowered shares of Amgen from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Amgen presently has a consensus rating of "Hold" and a consensus price target of $314.00.

Amgen Price Performance

AMGN traded up $1.40 during midday trading on Friday, reaching $285.42. 3,799,348 shares of the company's stock were exchanged, compared to its average volume of 2,746,697. 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 50-day simple moving average of $271.06 and a two-hundred day simple moving average of $304.33. The firm has a market capitalization of $153.42 billion, a price-to-earnings ratio of 36.55, a price-to-earnings-growth ratio of 2.85 and a beta of 0.56. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly 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. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. During the same quarter in the previous year, the firm earned $4.96 EPS. Amgen's quarterly revenue was up 23.2% on a year-over-year basis. As a group, research analysts predict that Amgen Inc. will post 19.56 EPS for the current year.

Amgen Increases Dividend

The company also recently announced 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 is a positive change from Amgen's previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. This represents a $9.52 annualized dividend and a dividend yield of 3.34%. Amgen's dividend payout ratio is presently 121.90%.

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.