Amgen Inc. (NASDAQ:AMGN) Position Decreased by Oak Harvest Investment Services

Oak Harvest Investment Services reduced its holdings in Amgen Inc. (NASDAQ:AMGN) by 26.1% during the fourth quarter, Holdings Channel reports. The firm owned 20,041 shares of the medical research company’s stock after selling 7,084 shares during the period. Oak Harvest Investment Services’ holdings in Amgen were worth $5,223,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Capital Performance Advisors LLP acquired a new position in shares of Amgen in the third quarter worth about $25,000. Legacy Investment Solutions LLC acquired a new position in Amgen in the 3rd quarter worth approximately $29,000. Matrix Trust Co purchased a new position in Amgen during the 3rd quarter worth approximately $36,000. Livelsberger Financial Advisory acquired a new stake in Amgen during the 3rd quarter valued at $56,000. Finally, Icon Wealth Advisors LLC lifted its holdings in shares of Amgen by 3,955.0% in the third quarter. Icon Wealth Advisors LLC now owns 174,040 shares of the medical research company’s stock valued at $56,000 after purchasing an additional 169,748 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Up 0.8 %

Shares of NASDAQ:AMGN opened at $284.02 on Friday. The company has a market capitalization of $152.67 billion, a PE ratio of 36.37, a P/E/G ratio of 2.78 and a beta of 0.56. 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 company’s fifty day moving average is $271.35 and its 200-day moving average is $304.99. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85.

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 business had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. Amgen’s revenue was up 23.2% compared to the same quarter last year. During the same period in the previous year, the business earned $4.96 EPS. Equities research 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. Stockholders of record on Friday, February 14th will be paid a $2.38 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.35%. Amgen’s dividend payout ratio (DPR) is 115.24%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Leerink Partners dropped their price target on Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Sanford C. Bernstein started coverage on Amgen in a report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 target price on the stock. Piper Sandler Companies reaffirmed an “overweight” rating and set a $310.00 price objective on shares of Amgen in a research report on Thursday, January 2nd. UBS Group cut their target price on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Finally, Wells Fargo & Company lowered their price target 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. 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 given a strong buy rating to the company. According to MarketBeat.com, Amgen presently has a consensus rating of “Hold” and a consensus target price of $314.00.

Amgen 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.