Railway Pension Investments Ltd Trims Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Railway Pension Investments Ltd trimmed its holdings in Amgen Inc. (NASDAQ:AMGN) by 8.0% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 342,206 shares of the medical research company’s stock after selling 29,800 shares during the period. Railway Pension Investments Ltd’s holdings in Amgen were worth $97,296,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMGN. Patten & Patten Inc. TN grew its stake in Amgen by 4.7% in the fourth quarter. Patten & Patten Inc. TN now owns 2,968 shares of the medical research company’s stock worth $855,000 after purchasing an additional 133 shares in the last quarter. Integrated Investment Consultants LLC boosted its position in Amgen by 3.2% during the 4th quarter. Integrated Investment Consultants LLC now owns 1,455 shares of the medical research company’s stock valued at $419,000 after acquiring an additional 45 shares in the last quarter. Howland Capital Management LLC boosted its position in Amgen by 12.4% during the 4th quarter. Howland Capital Management LLC now owns 2,225 shares of the medical research company’s stock valued at $641,000 after acquiring an additional 245 shares in the last quarter. Oak Asset Management LLC boosted its position in Amgen by 0.3% during the 4th quarter. Oak Asset Management LLC now owns 63,699 shares of the medical research company’s stock valued at $18,347,000 after acquiring an additional 216 shares in the last quarter. Finally, Factory Mutual Insurance Co. boosted its position in Amgen by 59.6% during the 4th quarter. Factory Mutual Insurance Co. now owns 85,400 shares of the medical research company’s stock valued at $24,597,000 after acquiring an additional 31,900 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Price Performance

Shares of NASDAQ:AMGN traded down $1.54 during trading on Friday, reaching $333.99. 2,106,216 shares of the company’s stock traded hands, compared to its average volume of 1,890,833. Amgen Inc. has a fifty-two week low of $228.21 and a fifty-two week high of $346.85. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 11.96. The firm has a market cap of $179.16 billion, a PE ratio of 47.71, a P/E/G ratio of 2.78 and a beta of 0.58. The company has a 50-day simple moving average of $316.30 and a 200-day simple moving average of $298.33.

Amgen (NASDAQ:AMGN) last posted its earnings results on Thursday, May 2nd. The medical research company reported $3.96 EPS for the quarter, beating analysts’ consensus estimates of $3.76 by $0.20. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The firm had revenue of $7.45 billion for the quarter, compared to analysts’ expectations of $7.45 billion. During the same period last year, the firm earned $3.98 EPS. The company’s quarterly revenue was up 22.0% on a year-over-year basis. As a group, analysts predict that Amgen Inc. will post 19.5 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th 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 2.69%. Amgen’s dividend payout ratio (DPR) is presently 128.57%.

Wall Street Analyst Weigh In

Several analysts have issued reports on AMGN shares. Morgan Stanley dropped their target price on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 11th. Barclays upgraded Amgen from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $230.00 to $300.00 in a report on Friday, May 3rd. Argus increased their price objective on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Truist Financial reiterated a “buy” rating and set a $320.00 price objective on shares of Amgen in a report on Friday, April 12th. Finally, UBS Group increased their price objective on Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $312.63.

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.