Beacon Investment Advisory Services Inc. Decreases Holdings in Amgen Inc. (NASDAQ:AMGN)

Beacon Investment Advisory Services Inc. lowered its position in Amgen Inc. (NASDAQ:AMGN) by 1.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,824 shares of the medical research company’s stock after selling 615 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Amgen were worth $10,901,000 as of its most recent SEC filing.

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

Amgen Stock Down 0.5 %

AMGN opened at $273.44 on Thursday. 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 $146.98 billion, a PE ratio of 35.01, a price-to-earnings-growth ratio of 2.79 and a beta of 0.56. The firm has a 50 day moving average price of $271.91 and a 200 day moving average price of $306.43. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. During the same period last year, the company posted $4.96 earnings per share. The firm’s revenue was up 23.2% compared to the same quarter last year. Sell-side analysts expect that Amgen Inc. will post 19.57 earnings per share for the current year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be given a dividend of $2.38 per share. The ex-dividend date is Friday, February 14th. This is a positive change from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a yield of 3.48%. Amgen’s payout ratio is 115.24%.

Analysts Set New Price Targets

AMGN has been the subject of a number of recent research reports. TD Cowen raised their price objective on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Truist Financial dropped their price target on Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Bank of America restated an “underperform” rating and issued a $256.00 price objective on shares of Amgen in a research report on Tuesday, December 10th. UBS Group dropped their price objective on Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Finally, William Blair restated an “outperform” rating on shares of Amgen in a report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Amgen currently has an average rating of “Hold” and an average price target of $314.91.

Amgen 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.