Dumont & Blake Investment Advisors LLC Sells 48 Shares of Amgen Inc. (NASDAQ:AMGN)

Dumont & Blake Investment Advisors LLC decreased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 0.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,849 shares of the medical research company’s stock after selling 48 shares during the period. Dumont & Blake Investment Advisors LLC’s holdings in Amgen were worth $2,306,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of AMGN. State Street Corp raised its position in shares of Amgen by 1.2% during the third quarter. State Street Corp now owns 29,317,018 shares of the medical research company’s stock worth $9,446,236,000 after purchasing an additional 345,537 shares during the period. Geode Capital Management LLC increased its stake in Amgen by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 12,122,889 shares of the medical research company’s stock valued at $3,893,771,000 after purchasing an additional 103,851 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Amgen by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 10,532,629 shares of the medical research company’s stock worth $3,393,718,000 after buying an additional 251,876 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Amgen by 11.7% in the third quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock valued at $1,657,183,000 after buying an additional 538,545 shares in the last quarter. Finally, Pathway Financial Advisers LLC grew its holdings in shares of Amgen by 33,125.4% during the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after buying an additional 4,446,757 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Piper Sandler lowered their target price on shares of Amgen from $344.00 to $310.00 and set an “overweight” rating on the stock in a report on Thursday, January 2nd. TD Cowen raised their target price on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a report on Monday, October 21st. Bank of America reiterated an “underperform” rating and set a $256.00 price target on shares of Amgen in a report on Tuesday, December 10th. Redburn Partners dropped their price objective on Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Finally, Barclays upped their target price on shares of Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $314.00.

Amgen Price Performance

AMGN stock opened at $284.02 on Friday. The firm has a 50 day moving average of $271.35 and a 200-day moving average of $304.99. The firm has a market capitalization of $152.67 billion, a P/E ratio of 36.37, a price-to-earnings-growth ratio of 2.78 and a beta of 0.56. Amgen Inc. has a 12 month low of $253.30 and a 12 month 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 released its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. During the same period in the previous year, the business earned $4.96 EPS. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. As a group, sell-side analysts predict that Amgen Inc. will post 19.56 earnings per share for the current fiscal year.

Amgen Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be given a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.35%. This is a boost from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. Amgen’s payout ratio is presently 115.24%.

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.