Bourgeon Capital Management LLC Trims Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Bourgeon Capital Management LLC cut its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 26.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,839 shares of the medical research company’s stock after selling 14,207 shares during the quarter. Amgen makes up approximately 1.9% of Bourgeon Capital Management LLC’s holdings, making the stock its 21st largest holding. Bourgeon Capital Management LLC’s holdings in Amgen were worth $10,384,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Piper Sandler Companies restated an “overweight” rating and set a $310.00 price target on shares of Amgen in a research report on Thursday, January 2nd. Piper Sandler decreased their price target on Amgen from $344.00 to $310.00 and set an “overweight” rating for the company in a research note on Thursday, January 2nd. Wells Fargo & Company dropped their price objective on Amgen from $335.00 to $280.00 and set an “equal weight” rating on the stock in a research note on Friday, January 10th. StockNews.com cut Amgen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $405.00 price target on shares of Amgen in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Amgen has a consensus rating of “Hold” and a consensus price target of $314.91.

Amgen Trading Up 1.0 %

Shares of NASDAQ AMGN opened at $274.81 on Wednesday. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The business has a 50 day simple moving average of $272.95 and a 200 day simple moving average of $306.92. 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 stock has a market cap of $147.72 billion, a price-to-earnings ratio of 35.19, a PEG ratio of 2.78 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $8.50 billion. During the same period in the previous year, the company earned $4.96 earnings per share. Amgen’s revenue for the quarter was up 23.2% on a year-over-year basis. On average, research analysts predict that Amgen Inc. will post 19.57 earnings per share for the current fiscal year.

Amgen Increases Dividend

The firm 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 $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 yield of 3.46%. The ex-dividend date is Friday, February 14th. Amgen’s payout ratio is currently 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.