Strs Ohio Cuts Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Strs Ohio trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 194,815 shares of the medical research company’s stock after selling 4,553 shares during the period. Strs Ohio’s holdings in Amgen were worth $56,110,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Briaud Financial Planning Inc purchased a new stake in Amgen during the third quarter valued at about $26,000. OFI Invest Asset Management purchased a new stake in shares of Amgen during the third quarter worth about $26,000. Planned Solutions Inc. purchased a new stake in shares of Amgen during the fourth quarter worth about $30,000. Providence Capital Advisors LLC purchased a new stake in shares of Amgen during the third quarter worth about $30,000. Finally, Hartford Financial Management Inc. boosted its holdings in shares of Amgen by 56.9% during the fourth quarter. Hartford Financial Management Inc. now owns 113 shares of the medical research company’s stock worth $33,000 after purchasing an additional 41 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Trading Up 0.4 %

NASDAQ:AMGN opened at $268.24 on Monday. The company has a debt-to-equity ratio of 10.14, a current ratio of 1.65 and a quick ratio of 1.13. The firm has a market capitalization of $143.76 billion, a price-to-earnings ratio of 21.40, a price-to-earnings-growth ratio of 2.53 and a beta of 0.58. Amgen Inc. has a one year low of $211.71 and a one year high of $329.72. The business has a fifty day moving average price of $280.76 and a 200-day moving average price of $281.55.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.66 by $0.05. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The business had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.13 billion. During the same quarter in the prior year, the business posted $4.09 EPS. Amgen’s revenue for the quarter was up 19.8% compared to the same quarter last year. Sell-side analysts forecast that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be paid a $2.25 dividend. The ex-dividend date is Thursday, May 16th. This represents a $9.00 dividend on an annualized basis and a yield of 3.36%. Amgen’s payout ratio is presently 72.06%.

Analysts Set New Price Targets

AMGN has been the subject of a number of analyst reports. BMO Capital Markets upgraded shares of Amgen from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $286.00 to $326.00 in a report on Tuesday, December 19th. Truist Financial reissued a “buy” rating and issued a $320.00 price target on shares of Amgen in a research note on Friday. The Goldman Sachs Group increased their price target on shares of Amgen from $313.00 to $350.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Morgan Stanley decreased their price target on shares of Amgen from $281.00 to $278.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 7th. Finally, Raymond James began coverage on shares of Amgen in a research note on Thursday, March 28th. They set a “market perform” rating for the company. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $295.30.

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.