Verum Partners LLC Sells 90 Shares of Amgen Inc. (NASDAQ:AMGN)

Verum Partners LLC trimmed its holdings in Amgen Inc. (NASDAQ:AMGN) by 6.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,269 shares of the medical research company’s stock after selling 90 shares during the quarter. Verum Partners LLC’s holdings in Amgen were worth $331,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new position in Amgen during the third quarter worth about $25,000. Legacy Investment Solutions LLC acquired a new position in shares of Amgen in the 3rd quarter worth approximately $29,000. Hershey Financial Advisers LLC bought a new position in Amgen in the 2nd quarter valued at $30,000. Matrix Trust Co acquired a new position in Amgen in the third quarter worth $36,000. Finally, Livelsberger Financial Advisory bought a new stake in shares of Amgen during the third quarter worth $56,000. 76.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on AMGN shares. Piper Sandler reduced their price target on shares of Amgen from $344.00 to $310.00 and set an “overweight” rating on the stock in a research report on Thursday, January 2nd. Sanford C. Bernstein initiated coverage on Amgen in a research report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price objective on the stock. Royal Bank of Canada dropped their target price on Amgen from $360.00 to $330.00 and set an “outperform” rating for the company in a research report on Wednesday, November 27th. Wolfe Research assumed coverage on Amgen in a report on Friday, November 15th. They issued a “peer perform” rating on the stock. Finally, Truist Financial dropped their price objective on Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Amgen currently has a consensus rating of “Hold” and a consensus target price of $314.91.

Amgen Trading Up 1.0 %

Shares of NASDAQ:AMGN opened at $274.81 on Wednesday. The business’s 50 day simple moving average is $272.95 and its 200 day simple moving average is $306.92. The company has a market capitalization of $147.72 billion, a P/E ratio of 35.19, a P/E/G ratio of 2.78 and a beta of 0.56. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The business had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. Amgen’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.96 earnings per share. On average, research analysts anticipate that Amgen Inc. will post 19.57 EPS for the current fiscal year.

Amgen Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.46%. This is a boost from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio is 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.