Cohen Investment Advisors LLC Sells 724 Shares of Amgen Inc. (NASDAQ:AMGN)

Cohen Investment Advisors LLC trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 7.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 9,549 shares of the medical research company’s stock after selling 724 shares during the period. Amgen makes up approximately 1.5% of Cohen Investment Advisors LLC’s portfolio, making the stock its 29th largest holding. Cohen Investment Advisors LLC’s holdings in Amgen were worth $2,489,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in AMGN. Talbot Financial LLC boosted its stake in shares of Amgen by 5.6% during the 4th quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company’s stock worth $11,153,000 after acquiring an additional 2,274 shares during the last quarter. Swiss National Bank raised its position in shares of Amgen by 0.3% during the third quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock valued at $513,033,000 after buying an additional 5,500 shares during the last quarter. Asset Advisors Investment Management LLC boosted its holdings in shares of Amgen by 9.0% during the 3rd quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company’s stock valued at $11,578,000 after purchasing an additional 2,954 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Amgen by 6.0% during the 3rd quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company’s stock valued at $204,659,000 after buying an additional 35,785 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its stake in Amgen by 3.2% during the third quarter. First Horizon Advisors Inc. now owns 60,769 shares of the medical research company’s stock valued at $19,581,000 after purchasing an additional 1,872 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Amgen Stock Up 0.2 %

AMGN stock opened at $269.43 on Friday. The firm’s 50-day moving average is $276.06 and its two-hundred day moving average is $307.76. The company has a market capitalization of $144.83 billion, a price-to-earnings ratio of 34.50, a price-to-earnings-growth ratio of 2.68 and a beta of 0.56. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55.

Amgen (NASDAQ:AMGN) last announced its earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping the consensus estimate of $5.11 by $0.47. The firm had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.96 earnings per share. On average, analysts forecast that Amgen Inc. will post 19.57 earnings per share for the current fiscal year.

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be issued a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.53%. This is an increase from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s dividend payout ratio is presently 115.24%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on AMGN shares. Piper Sandler Companies reaffirmed an “overweight” rating and set a $310.00 price target on shares of Amgen in a research note on Thursday, January 2nd. Wells Fargo & Company cut their price objective on shares of Amgen from $335.00 to $280.00 and set an “equal weight” rating on the stock in a report on Friday, January 10th. Truist Financial decreased their price target on shares of Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 price target on shares of Amgen in a research note on Tuesday, November 12th. Finally, Bank of America restated an “underperform” rating and issued a $256.00 target price on shares of Amgen in a research note on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Amgen presently has a consensus rating of “Hold” and a consensus price target of $314.91.

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.