Lake Street Private Wealth LLC Sells 805 Shares of Amgen Inc. (NASDAQ:AMGN)

Lake Street Private Wealth LLC trimmed its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 43.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 1,056 shares of the medical research company’s stock after selling 805 shares during the quarter. Lake Street Private Wealth LLC’s holdings in Amgen were worth $275,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Seven Eight Capital LP acquired a new stake in shares of Amgen during the 2nd quarter worth approximately $845,000. XTX Topco Ltd acquired a new stake in shares of Amgen in the 2nd quarter valued at $661,000. Benjamin F. Edwards & Company Inc. lifted its position in shares of Amgen by 14.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 42,959 shares of the medical research company’s stock valued at $13,422,000 after acquiring an additional 5,377 shares during the period. AE Wealth Management LLC boosted its stake in Amgen by 33.1% during the second quarter. AE Wealth Management LLC now owns 19,241 shares of the medical research company’s stock worth $6,012,000 after acquiring an additional 4,789 shares in the last quarter. Finally, Pacer Advisors Inc. grew its holdings in Amgen by 8.9% in the second quarter. Pacer Advisors Inc. now owns 74,039 shares of the medical research company’s stock worth $23,133,000 after purchasing an additional 6,048 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Performance

Shares of AMGN stock opened at $272.11 on Friday. 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 firm has a market cap of $146.27 billion, a price-to-earnings ratio of 34.84, a P/E/G ratio of 2.68 and a beta of 0.56. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The firm’s 50-day simple moving average is $273.95 and its two-hundred day simple moving average is $307.22.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS 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 company had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. During the same quarter in the previous year, the firm posted $4.96 EPS. Amgen’s revenue was up 23.2% on a year-over-year basis. As a group, equities analysts forecast that Amgen Inc. will post 19.57 earnings per share for the current year.

Amgen Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be issued a $2.38 dividend. The ex-dividend date is Friday, February 14th. This represents a $9.52 annualized dividend and a yield of 3.50%. This is a positive change from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio (DPR) is 115.24%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on AMGN shares. Piper Sandler Companies reissued an “overweight” rating and set a $310.00 price objective on shares of Amgen in a research report on Thursday, January 2nd. TD Cowen increased their price target on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Barclays boosted their price objective on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Robert W. Baird reiterated an “underperform” rating and issued a $215.00 target price on shares of Amgen in a report on Wednesday, September 25th. Finally, Leerink Partners decreased their price target on shares of Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $314.91.

About Amgen

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.