Amgen Inc. (NASDAQ:AMGN) Shares Sold by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC cut its position in shares of Amgen Inc. (NASDAQ:AMGN) by 86.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,528 shares of the medical research company’s stock after selling 126,041 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Amgen were worth $5,350,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of AMGN. Clear Harbor Asset Management LLC increased its position in Amgen by 1.1% during the 4th quarter. Clear Harbor Asset Management LLC now owns 9,371 shares of the medical research company’s stock worth $2,442,000 after purchasing an additional 104 shares in the last quarter. Lmcg Investments LLC increased its position in shares of Amgen by 0.7% in the fourth quarter. Lmcg Investments LLC now owns 37,404 shares of the medical research company’s stock worth $9,749,000 after acquiring an additional 257 shares in the last quarter. Solidarity Wealth LLC acquired a new position in shares of Amgen during the 4th quarter valued at $1,098,000. Crossmark Global Holdings Inc. boosted its position in Amgen by 2.6% during the 4th quarter. Crossmark Global Holdings Inc. now owns 76,607 shares of the medical research company’s stock worth $19,967,000 after purchasing an additional 1,966 shares during the period. Finally, Royal Fund Management LLC increased its holdings in Amgen by 32.7% in the 4th quarter. Royal Fund Management LLC now owns 20,077 shares of the medical research company’s stock valued at $5,346,000 after purchasing an additional 4,942 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on AMGN shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $405.00 target price on shares of Amgen in a research report on Tuesday, October 22nd. Piper Sandler dropped their price objective on shares of Amgen from $344.00 to $310.00 and set an “overweight” rating on the stock in a research note on Thursday, January 2nd. Sanford C. Bernstein began coverage on shares of Amgen in a research note on Thursday, October 17th. They issued an “outperform” rating and a $380.00 target price for the company. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 price target on shares of Amgen in a research note on Tuesday, November 12th. Finally, Wolfe Research initiated coverage on shares of Amgen in a research report on Friday, November 15th. They issued a “peer perform” rating for the company. Two 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. According to data from MarketBeat, Amgen presently has an average rating of “Hold” and a consensus target price of $314.91.

Amgen Trading Up 1.0 %

Shares of NASDAQ AMGN opened at $272.11 on Tuesday. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The company has a market cap of $146.27 billion, a price-to-earnings ratio of 34.84, a price-to-earnings-growth ratio of 2.78 and a beta of 0.56. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The stock’s 50 day simple moving average is $272.95 and its 200 day simple moving average is $306.92.

Amgen (NASDAQ:AMGN) last posted 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 company had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period last year, the business posted $4.96 earnings per share. Equities research analysts expect that Amgen Inc. will post 19.57 EPS for the current year.

Amgen Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be paid a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 3.50%. This is a positive change from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s payout ratio is presently 115.24%.

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.