Albion Financial Group UT Decreases Stock Position in Amgen Inc. (NASDAQ:AMGN)

Albion Financial Group UT decreased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,323 shares of the medical research company’s stock after selling 359 shares during the period. Albion Financial Group UT’s holdings in Amgen were worth $6,861,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Ascent Group LLC lifted its position in shares of Amgen by 0.3% during the second quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock worth $3,421,000 after purchasing an additional 31 shares during the last quarter. Cadinha & Co. LLC lifted its holdings in Amgen by 0.6% during the 3rd quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock valued at $1,678,000 after buying an additional 32 shares in the last quarter. Lansing Street Advisors boosted its position in Amgen by 1.3% in the 3rd quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock valued at $832,000 after buying an additional 32 shares during the period. Unionview LLC increased its position in shares of Amgen by 3.8% during the third quarter. Unionview LLC now owns 876 shares of the medical research company’s stock worth $282,000 after acquiring an additional 32 shares during the period. Finally, Traveka Wealth LLC raised its stake in shares of Amgen by 4.3% during the third quarter. Traveka Wealth LLC now owns 807 shares of the medical research company’s stock valued at $260,000 after acquiring an additional 33 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Amgen Stock Performance

AMGN opened at $274.81 on Wednesday. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The firm has a 50 day moving average of $272.47 and a two-hundred day moving average of $306.67. The firm has a market capitalization of $147.72 billion, a PE ratio of 35.19, a P/E/G ratio of 2.78 and a beta of 0.56.

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 during the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period in the previous year, the firm posted $4.96 earnings per share. On average, analysts anticipate that Amgen Inc. will post 19.57 EPS for the current year.

Amgen Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be issued a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.46%. This is a positive change from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. Amgen’s dividend payout ratio (DPR) is 115.24%.

Analysts Set New Price Targets

Several research firms have commented on AMGN. Citigroup reduced their price objective on Amgen from $335.00 to $310.00 in a report on Wednesday, November 27th. Redburn Partners decreased their price objective on Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Piper Sandler cut their target price on shares of Amgen from $344.00 to $310.00 and set an “overweight” rating on the stock in a research report on Thursday, January 2nd. 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. Finally, William Blair restated an “outperform” rating on shares of Amgen in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus 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.