Amgen Inc. (NASDAQ:AMGN) Shares Sold by IVC Wealth Advisors LLC

IVC Wealth Advisors LLC reduced its position in shares of Amgen Inc. (NASDAQ:AMGN) by 32.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 841 shares of the medical research company’s stock after selling 402 shares during the period. IVC Wealth Advisors LLC’s holdings in Amgen were worth $219,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of AMGN. Capital Performance Advisors LLP acquired a new position in shares of Amgen in the 3rd quarter worth approximately $25,000. Legacy Investment Solutions LLC bought a new stake in Amgen during the third quarter worth approximately $29,000. Hershey Financial Advisers LLC acquired a new position in Amgen in the second quarter worth approximately $30,000. Matrix Trust Co bought a new position in shares of Amgen in the third quarter valued at $36,000. Finally, Livelsberger Financial Advisory acquired a new stake in shares of Amgen during the 3rd quarter valued at $56,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Up 1.6 %

Shares of AMGN stock opened at $277.88 on Friday. The stock’s 50 day simple moving average is $271.91 and its 200 day simple moving average is $306.43. Amgen Inc. has a twelve month low of $253.30 and a twelve month 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 company has a market capitalization of $149.37 billion, a price-to-earnings ratio of 35.58, a PEG ratio of 2.79 and a beta of 0.56.

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. The company had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter last year, the firm posted $4.96 earnings per share. As a group, research analysts predict that Amgen Inc. will post 19.57 EPS for the current 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 given a $2.38 dividend. This is an increase from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s dividend payout ratio (DPR) is currently 115.24%.

Analysts Set New Price Targets

AMGN has been the topic of a number of recent research reports. Bank of America restated an “underperform” rating and issued a $256.00 target price on shares of Amgen in a report on Tuesday, December 10th. Piper Sandler cut their price objective on Amgen from $344.00 to $310.00 and set an “overweight” rating on the stock in a report on Thursday, January 2nd. Wells Fargo & Company reduced their price objective on shares of Amgen from $335.00 to $280.00 and set an “equal weight” rating for the company in a research note on Friday, January 10th. TD Cowen lifted their target price on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, Wolfe Research started coverage on shares of Amgen in a research report on Friday, November 15th. They issued a “peer perform” rating for the company. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $314.91.

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.