Rise Advisors LLC Has $133,000 Stake in Amgen Inc. (NASDAQ:AMGN)

Rise Advisors LLC trimmed its holdings in Amgen Inc. (NASDAQ:AMGN) by 17.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 511 shares of the medical research company’s stock after selling 105 shares during the quarter. Rise Advisors LLC’s holdings in Amgen were worth $133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on AMGN shares. William Blair reaffirmed an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. Wolfe Research began coverage on Amgen in a research note on Friday, November 15th. They set a “peer perform” rating on the stock. Piper Sandler reduced their target price 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. TD Cowen raised their price target on shares of Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Finally, UBS Group reduced their price objective on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, twelve have assigned 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 currently has an average rating of “Hold” and a consensus target price of $318.83.

Amgen Price Performance

Shares of AMGN traded up $3.73 during midday trading on Tuesday, hitting $262.32. 1,236,637 shares of the company traded hands, compared to its average volume of 2,798,623. The stock has a 50-day moving average of $283.46 and a 200-day moving average of $310.11. 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 one year low of $253.30 and a one year high of $346.85. The firm has a market cap of $141.01 billion, a P/E ratio of 33.59, a PEG ratio of 2.91 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.11 by $0.47. The business had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period in the prior year, the company posted $4.96 EPS. As a group, sell-side analysts predict that Amgen Inc. will post 19.53 EPS for the current fiscal year.

Amgen Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be paid a $2.38 dividend. This is a positive change from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date is Friday, February 14th. Amgen’s dividend payout ratio is currently 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.