Railway Pension Investments Ltd Sells 29,800 Shares of Amgen Inc. (NASDAQ:AMGN)

Railway Pension Investments Ltd decreased its position in Amgen Inc. (NASDAQ:AMGN) by 8.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 342,206 shares of the medical research company’s stock after selling 29,800 shares during the quarter. Railway Pension Investments Ltd owned approximately 0.06% of Amgen worth $97,296,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. BIP Wealth LLC boosted its stake in Amgen by 2.6% in the fourth quarter. BIP Wealth LLC now owns 1,249 shares of the medical research company’s stock valued at $360,000 after buying an additional 32 shares in the last quarter. RFP Financial Group LLC raised its position in shares of Amgen by 17.1% during the first quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock worth $62,000 after acquiring an additional 32 shares during the last quarter. Marino Stram & Associates LLC raised its position in shares of Amgen by 0.7% during the fourth quarter. Marino Stram & Associates LLC now owns 4,626 shares of the medical research company’s stock worth $1,332,000 after acquiring an additional 34 shares during the last quarter. NTV Asset Management LLC raised its position in shares of Amgen by 0.3% during the first quarter. NTV Asset Management LLC now owns 10,961 shares of the medical research company’s stock worth $3,116,000 after acquiring an additional 34 shares during the last quarter. Finally, Texas Yale Capital Corp. raised its position in shares of Amgen by 0.3% during the first quarter. Texas Yale Capital Corp. now owns 10,097 shares of the medical research company’s stock worth $2,871,000 after acquiring an additional 34 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of NASDAQ AMGN traded down $1.54 during trading on Friday, reaching $333.99. 2,106,216 shares of the stock traded hands, compared to its average volume of 1,890,833. Amgen Inc. has a 52-week low of $228.21 and a 52-week high of $346.85. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.42 and a quick ratio of 0.98. The company has a 50-day moving average of $316.30 and a 200-day moving average of $298.33. The stock has a market capitalization of $179.16 billion, a P/E ratio of 47.71, a price-to-earnings-growth ratio of 2.78 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Thursday, May 2nd. The medical research company reported $3.96 EPS for the quarter, beating analysts’ consensus estimates of $3.76 by $0.20. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The firm had revenue of $7.45 billion for the quarter, compared to analysts’ expectations of $7.45 billion. During the same quarter in the prior year, the firm earned $3.98 EPS. The business’s revenue for the quarter was up 22.0% compared to the same quarter last year. Analysts forecast that Amgen Inc. will post 19.5 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.69%. Amgen’s dividend payout ratio is presently 128.57%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AMGN shares. TD Cowen lowered their price objective on Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. Truist Financial reiterated a “buy” rating and issued a $320.00 target price on shares of Amgen in a report on Friday, April 12th. Barclays upgraded Amgen from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $230.00 to $300.00 in a report on Friday, May 3rd. Royal Bank of Canada lifted their target price on Amgen from $328.00 to $332.00 and gave the stock an “outperform” rating in a report on Friday, June 14th. Finally, William Blair upgraded Amgen from a “market perform” rating to an “outperform” rating in a report on Friday, May 3rd. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $312.63.

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.