Cohen Klingenstein LLC Sells 1,750 Shares of Amgen Inc. (NASDAQ:AMGN)

Cohen Klingenstein LLC decreased its stake in Amgen Inc. (NASDAQ:AMGN) by 5.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,270 shares of the medical research company’s stock after selling 1,750 shares during the quarter. Cohen Klingenstein LLC’s holdings in Amgen were worth $8,150,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC boosted its holdings in shares of Amgen by 33,125.4% in the 3rd 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 in the last quarter. International Assets Investment Management LLC grew its stake in Amgen by 6,812.4% during the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock valued at $8,130,610,000 after purchasing an additional 2,486,882 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Amgen by 561.5% in the third quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock valued at $496,117,000 after buying an additional 1,306,982 shares during the last quarter. Granite Bay Wealth Management LLC lifted its holdings in shares of Amgen by 9,058.1% in the 2nd quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock valued at $223,897,000 after buying an additional 748,200 shares during the period. Finally, Nordea Investment Management AB lifted its stake in shares of Amgen by 40.7% in the 4th quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company’s stock valued at $609,526,000 after purchasing an additional 676,598 shares during the period. Institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on AMGN. UBS Group decreased their price target on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $405.00 price target on shares of Amgen in a report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft decreased their target price on Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Jefferies Financial Group restated a “buy” rating and issued a $380.00 target price on shares of Amgen in a research note on Tuesday, November 12th. Finally, Bank of America reissued an “underperform” rating and set a $256.00 target price on shares of Amgen in a research note on Tuesday, December 10th. Two equities research 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 company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $314.91.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $272.11 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The stock’s 50 day moving average is $275.01 and its 200-day moving average is $307.49. The firm has a market capitalization of $146.27 billion, a price-to-earnings ratio of 34.84, a PEG ratio of 2.68 and a beta of 0.56. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85.

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

Amgen Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be given a dividend of $2.38 per share. The ex-dividend date is Friday, February 14th. This represents a $9.52 annualized dividend and a yield of 3.50%. This is a boost from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend 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.