Amgen Inc. (NASDAQ:AMGN) Shares Sold by Elite Wealth Management Inc.

Elite Wealth Management Inc. lessened its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 29.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,203 shares of the medical research company’s stock after selling 500 shares during the quarter. Elite Wealth Management Inc.’s holdings in Amgen were worth $346,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Moneta Group Investment Advisors LLC raised its holdings in shares of Amgen by 83,875.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,541,011 shares of the medical research company’s stock worth $1,980,571,000 after acquiring an additional 7,532,031 shares during the period. Norges Bank purchased a new position in shares of Amgen during the 4th quarter worth $1,351,778,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Amgen by 158.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,950,013 shares of the medical research company’s stock worth $774,791,000 after acquiring an additional 1,806,456 shares during the period. International Assets Investment Management LLC purchased a new position in shares of Amgen during the 4th quarter worth $4,589,900,000. Finally, Morgan Stanley raised its holdings in shares of Amgen by 12.9% during the 4th quarter. Morgan Stanley now owns 13,301,365 shares of the medical research company’s stock worth $3,493,471,000 after acquiring an additional 1,523,665 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Down 0.2 %

Shares of Amgen stock traded down $0.54 on Wednesday, reaching $265.10. 966,578 shares of the company were exchanged, compared to its average volume of 2,844,470. Amgen Inc. has a 1-year low of $211.71 and a 1-year high of $329.72. The company has a market cap of $142.07 billion, a P/E ratio of 21.27, a price-to-earnings-growth ratio of 2.47 and a beta of 0.58. 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 stock’s 50 day moving average price is $278.62 and its 200-day moving average price is $281.49.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 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 the consensus estimate of $8.13 billion. During the same period in the previous year, the company posted $4.09 earnings per share. The business’s revenue for the quarter was up 19.8% on a year-over-year basis. As a group, equities analysts forecast that Amgen Inc. will post 19.47 EPS for the current year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date is Thursday, May 16th. Amgen’s dividend payout ratio is presently 72.06%.

Analysts Set New Price Targets

AMGN has been the topic of several analyst reports. Truist Financial reiterated a “buy” rating and set a $320.00 price target on shares of Amgen in a report on Friday, April 12th. StockNews.com lowered shares of Amgen from a “buy” rating to a “hold” rating in a report on Thursday, March 28th. UBS Group reduced their price objective on shares of Amgen from $315.00 to $314.00 and set a “neutral” rating on the stock in a report on Monday, January 29th. Daiwa Capital Markets upgraded shares of Amgen from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $264.00 to $320.00 in a report on Thursday, December 21st. Finally, Leerink Partnrs lowered shares of Amgen from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 7th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Amgen currently has a consensus rating of “Hold” and a consensus price target of $295.30.

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.