Amgen Inc. (NASDAQ:AMGN) Stake Lessened by Agate Pass Investment Management LLC

Agate Pass Investment Management LLC decreased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 1.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,775 shares of the medical research company’s stock after selling 50 shares during the period. Agate Pass Investment Management LLC’s holdings in Amgen were worth $984,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC boosted its stake in Amgen by 33,125.4% during the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after buying an additional 4,446,757 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Amgen by 6,812.4% in the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock worth $8,130,610,000 after purchasing an additional 2,486,882 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Amgen by 561.5% during the third quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock valued at $496,117,000 after purchasing an additional 1,306,982 shares during the last quarter. Granite Bay Wealth Management LLC lifted its position in shares of Amgen by 9,058.1% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock valued at $223,897,000 after acquiring an additional 748,200 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of Amgen by 40.7% during the fourth quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company’s stock valued at $609,526,000 after purchasing an additional 676,598 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Performance

AMGN stock traded up $4.94 on Monday, reaching $267.17. 1,128,238 shares of the company were exchanged, compared to its average volume of 2,772,246. 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 stock’s fifty day moving average price is $279.10 and its 200 day moving average price is $308.66. The firm has a market capitalization of $143.61 billion, a PE ratio of 34.21, a PEG ratio of 2.91 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. During the same quarter in the prior year, the business earned $4.96 earnings per share. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. On average, research analysts anticipate that Amgen Inc. will post 19.53 EPS for the current fiscal year.

Amgen Increases Dividend

The company 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 $2.38 dividend. This is a boost from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a yield of 3.56%. The ex-dividend date is Friday, February 14th. Amgen’s dividend payout ratio (DPR) is 121.90%.

Wall Street Analyst Weigh In

Several research analysts have commented on AMGN shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $405.00 target price on shares of Amgen in a report on Tuesday, October 22nd. Piper Sandler Companies reiterated an “overweight” rating and set a $310.00 price objective on shares of Amgen in a research report on Thursday, January 2nd. Dbs Bank upgraded Amgen to a “strong-buy” rating in a report on Monday, September 16th. Barclays lifted their price target on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Finally, Wells Fargo & Company reduced their price objective on Amgen from $335.00 to $280.00 and set an “equal weight” rating for the company in a research note on Friday. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $314.91.

About Amgen

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.