Marks Group Wealth Management Inc Sells 981 Shares of Amgen Inc. (NASDAQ:AMGN)

Marks Group Wealth Management Inc cut its holdings in Amgen Inc. (NASDAQ:AMGN) by 10.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,281 shares of the medical research company’s stock after selling 981 shares during the period. Marks Group Wealth Management Inc’s holdings in Amgen were worth $2,385,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. OFI Invest Asset Management bought a new stake in shares of Amgen in the third quarter valued at about $26,000. Briaud Financial Planning Inc bought a new position in Amgen in the third quarter worth $26,000. BOK Financial Private Wealth Inc. bought a new stake in Amgen in the 4th quarter valued at $29,000. Providence Capital Advisors LLC acquired a new position in shares of Amgen in the 3rd quarter valued at $30,000. Finally, Planned Solutions Inc. bought a new position in shares of Amgen during the 4th quarter worth about $30,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on AMGN shares. SVB Leerink lowered shares of Amgen from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $324.00 to $318.00 in a research report on Wednesday, February 7th. StockNews.com lowered Amgen from a “buy” rating to a “hold” rating in a research note on Thursday, March 28th. UBS Group cut their price objective on Amgen from $314.00 to $284.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Raymond James started coverage on shares of Amgen in a report on Thursday, March 28th. They issued a “market perform” rating on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $329.00 price target on shares of Amgen in a research report on Wednesday, April 3rd. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $296.95.

Amgen Trading Up 0.8 %

Shares of AMGN traded up $2.07 during trading hours on Tuesday, reaching $273.98. The stock had a trading volume of 1,093,812 shares, compared to its average volume of 2,826,253. Amgen Inc. has a 52 week low of $211.71 and a 52 week high of $329.72. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 10.14. The company has a market cap of $146.96 billion, a P/E ratio of 21.77, a P/E/G ratio of 2.50 and a beta of 0.58. The firm has a 50-day moving average of $276.45 and a 200 day moving average of $281.56.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.66 by $0.05. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The business had revenue of $8.20 billion during the quarter, compared to analysts’ expectations of $8.13 billion. During the same period in the prior year, the business earned $4.09 EPS. Amgen’s revenue for the quarter was up 19.8% compared to the same quarter last year. On average, sell-side analysts expect that Amgen Inc. will post 19.45 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be given a dividend of $2.25 per share. The ex-dividend date is Thursday, May 16th. This represents a $9.00 annualized dividend and a dividend yield of 3.28%. Amgen’s dividend payout ratio is currently 72.06%.

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.