Cambridge Advisors Inc. trimmed its stake in Amgen Inc. (NASDAQ:AMGN – Free Report) by 3.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,485 shares of the medical research company’s stock after selling 902 shares during the quarter. Amgen makes up 1.4% of Cambridge Advisors Inc.’s portfolio, making the stock its 17th biggest holding. Cambridge Advisors Inc.’s holdings in Amgen were worth $6,382,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. Capital Performance Advisors LLP purchased a new stake in Amgen in the 3rd quarter worth approximately $25,000. Hershey Financial Advisers LLC purchased a new stake in shares of Amgen in the second quarter valued at $30,000. Legacy Investment Solutions LLC acquired a new position in Amgen in the third quarter valued at $29,000. Matrix Trust Co purchased a new position in Amgen during the third quarter worth about $36,000. Finally, Livelsberger Financial Advisory acquired a new stake in Amgen in the 3rd quarter worth about $56,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.
Amgen Trading Up 1.0 %
NASDAQ:AMGN opened at $272.11 on Friday. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The business’s 50-day simple moving average is $273.95 and its 200 day simple moving average is $307.22. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The stock has a market cap of $146.27 billion, a price-to-earnings ratio of 34.84, a price-to-earnings-growth ratio of 2.68 and a beta of 0.56.
Amgen Increases Dividend
The firm also recently disclosed 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 3.50%. The ex-dividend date is Friday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $2.25. Amgen’s payout ratio is currently 115.24%.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on AMGN shares. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. TD Cowen increased their price target on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Truist Financial lowered their price objective on shares of Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. UBS Group reduced their target price on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Finally, Royal Bank of Canada dropped their price target on Amgen from $360.00 to $330.00 and set an “outperform” rating for the company in a research note on Wednesday, November 27th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amgen has a consensus rating of “Hold” and an average target price of $314.91.
Get Our Latest Stock Report on AMGN
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.
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