Guyasuta Investment Advisors Inc. Reduces Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Guyasuta Investment Advisors Inc. reduced its position in Amgen Inc. (NASDAQ:AMGN) by 22.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,082 shares of the medical research company’s stock after selling 890 shares during the quarter. Guyasuta Investment Advisors Inc.’s holdings in Amgen were worth $888,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Fuller & Thaler Asset Management Inc. raised its position in shares of Amgen by 1.7% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 11,658 shares of the medical research company’s stock valued at $3,133,000 after purchasing an additional 193 shares during the period. Diversified Trust Co lifted its position in shares of Amgen by 76.8% during the fourth quarter. Diversified Trust Co now owns 37,695 shares of the medical research company’s stock worth $10,857,000 after acquiring an additional 16,376 shares in the last quarter. Nicolet Advisory Services LLC boosted its holdings in shares of Amgen by 4.4% in the third quarter. Nicolet Advisory Services LLC now owns 2,805 shares of the medical research company’s stock worth $745,000 after acquiring an additional 117 shares during the period. Platform Technology Partners grew its position in shares of Amgen by 7.4% in the third quarter. Platform Technology Partners now owns 5,830 shares of the medical research company’s stock valued at $1,567,000 after purchasing an additional 402 shares in the last quarter. Finally, Traynor Capital Management Inc. boosted its stake in Amgen by 9.5% in the 4th quarter. Traynor Capital Management Inc. now owns 18,941 shares of the medical research company’s stock worth $5,455,000 after purchasing an additional 1,650 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AMGN. SVB Leerink lowered shares of Amgen from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $324.00 to $318.00 in a research report on Wednesday, February 7th. Truist Financial reaffirmed a “buy” rating and issued a $320.00 price target on shares of Amgen in a report on Friday, April 12th. Royal Bank of Canada reissued an “outperform” rating and set a $329.00 price objective on shares of Amgen in a research note on Wednesday, April 3rd. The Goldman Sachs Group upped their target price on Amgen from $313.00 to $350.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Finally, Morgan Stanley dropped their price target on Amgen from $281.00 to $278.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 7th. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $297.40.

Amgen Price Performance

Shares of AMGN traded up $5.38 during mid-day trading on Monday, hitting $275.36. The company’s stock had a trading volume of 910,368 shares, compared to its average volume of 2,798,839. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 10.14. Amgen Inc. has a 1-year low of $211.71 and a 1-year high of $329.72. The firm has a 50-day simple moving average of $275.10 and a 200 day simple moving average of $281.51. The firm has a market capitalization of $147.70 billion, a P/E ratio of 21.62, a P/E/G ratio of 2.61 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last issued its 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. The firm had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.13 billion. Amgen had a net margin of 23.83% and a return on equity of 154.27%. Amgen’s revenue was up 19.8% on a year-over-year basis. During the same quarter last year, the company posted $4.09 earnings per share. Analysts predict that Amgen Inc. will post 19.43 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 3.27%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend payout ratio (DPR) is 72.06%.

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.