Pallas Capital Advisors LLC Sells 18,162 Shares of Amgen Inc. (NASDAQ:AMGN)

Pallas Capital Advisors LLC cut its position in Amgen Inc. (NASDAQ:AMGN) by 79.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,804 shares of the medical research company’s stock after selling 18,162 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Amgen were worth $1,252,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in shares of Amgen during the 3rd quarter worth about $25,000. Legacy Investment Solutions LLC bought a new position in Amgen during the third quarter worth about $29,000. Hershey Financial Advisers LLC acquired a new position in Amgen during the second quarter worth approximately $30,000. Matrix Trust Co bought a new stake in Amgen in the third quarter valued at approximately $36,000. Finally, Livelsberger Financial Advisory bought a new position in shares of Amgen during the 3rd quarter worth approximately $56,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Wolfe Research began coverage on Amgen in a report on Friday, November 15th. They set a “peer perform” rating for the company. UBS Group reduced their target price on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Wells Fargo & Company lowered their price target on shares of Amgen from $335.00 to $280.00 and set an “equal weight” rating on the stock in a report on Friday. Barclays boosted their price objective on Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Finally, StockNews.com lowered Amgen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $314.91.

Amgen Trading Up 3.0 %

Shares of AMGN stock opened at $270.19 on Tuesday. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The stock’s fifty day moving average price is $278.16 and its two-hundred day moving average price is $308.35. 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 company has a market cap of $145.24 billion, a PE ratio of 34.60, a P/E/G ratio of 2.91 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last released 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 firm 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 business’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.96 earnings per share. Equities analysts predict that Amgen Inc. will post 19.53 EPS for the current fiscal year.

Amgen Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be paid a $2.38 dividend. This is an increase from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 annualized dividend and a yield of 3.52%. Amgen’s dividend payout ratio is presently 121.90%.

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.