SeaBridge Investment Advisors LLC Sells 2,865 Shares of Amgen Inc. (NASDAQ:AMGN)

SeaBridge Investment Advisors LLC cut its holdings in Amgen Inc. (NASDAQ:AMGN) by 11.6% during the 4th quarter, Holdings Channel reports. The fund owned 21,934 shares of the medical research company’s stock after selling 2,865 shares during the period. Amgen comprises 1.2% of SeaBridge Investment Advisors LLC’s portfolio, making the stock its 22nd biggest holding. SeaBridge Investment Advisors LLC’s holdings in Amgen were worth $5,717,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in AMGN. Talbot Financial LLC grew its stake in Amgen by 5.6% during the fourth quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company’s stock valued at $11,153,000 after acquiring an additional 2,274 shares in the last quarter. Swiss National Bank grew its stake in 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 acquiring an additional 5,500 shares in the last quarter. Asset Advisors Investment Management LLC grew its stake in Amgen by 9.0% during the third quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company’s stock valued at $11,578,000 after acquiring an additional 2,954 shares in the last quarter. Principal Financial Group Inc. grew its stake in Amgen by 6.0% during the third quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company’s stock valued at $204,659,000 after acquiring an additional 35,785 shares in the last quarter. Finally, First Horizon Advisors Inc. grew 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 acquiring an additional 1,872 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.

Amgen Trading Up 0.5 %

NASDAQ:AMGN opened at $285.42 on Friday. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. 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 firm has a market cap of $153.42 billion, a P/E ratio of 36.55, a P/E/G ratio of 2.85 and a beta of 0.56. The firm has a 50-day simple moving average of $271.06 and a 200-day simple moving average of $304.53.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. During the same quarter in the previous year, the business posted $4.96 EPS. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. Equities analysts anticipate that Amgen Inc. will post 19.56 EPS for the current fiscal year.

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be issued a $2.38 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 annualized dividend and a dividend yield of 3.34%. This is a positive change 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 equities analysts have commented on AMGN shares. Jefferies Financial Group reissued a “buy” rating and issued a $380.00 price objective on shares of Amgen in a research note on Tuesday, November 12th. Redburn Partners dropped their price objective on shares of Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Bank of America reissued an “underperform” rating and issued a $256.00 price objective on shares of Amgen in a research note on Tuesday, December 10th. Truist Financial dropped 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. Finally, Sanford C. Bernstein started coverage on shares of Amgen in a research note on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $314.00.

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.