MKT Advisors LLC Trims Stock Position in Amgen Inc. (NASDAQ:AMGN)

MKT Advisors LLC decreased its holdings in Amgen Inc. (NASDAQ:AMGN) by 1.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,786 shares of the medical research company’s stock after selling 68 shares during the quarter. Amgen makes up approximately 0.7% of MKT Advisors LLC’s holdings, making the stock its 23rd largest holding. MKT Advisors LLC’s holdings in Amgen were worth $1,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of AMGN. Pathway Financial Advisers LLC boosted its holdings in Amgen by 33,125.4% in the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after acquiring an additional 4,446,757 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of Amgen by 6,812.4% in the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock worth $8,130,610,000 after purchasing an additional 2,486,882 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Amgen by 561.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock valued at $496,117,000 after purchasing an additional 1,306,982 shares in the last quarter. Granite Bay Wealth Management LLC grew its holdings in shares of Amgen by 9,058.1% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock worth $223,897,000 after purchasing an additional 748,200 shares during the period. Finally, Nordea Investment Management AB grew its holdings in shares of Amgen by 40.7% during the 4th quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company’s stock worth $609,526,000 after purchasing an additional 676,598 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of AMGN stock opened at $275.42 on Friday. The stock has a market capitalization of $148.05 billion, a price-to-earnings ratio of 35.27, a PEG ratio of 2.78 and a beta of 0.56. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The company’s 50-day simple moving average is $271.39 and its 200-day simple moving average is $305.99. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32.

Amgen (NASDAQ:AMGN) last released its 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 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 the consensus estimate of $8.50 billion. During the same quarter last year, the business posted $4.96 EPS. Amgen’s quarterly revenue was up 23.2% compared to the same quarter last year. Equities analysts anticipate that Amgen Inc. will post 19.56 earnings per share for the current fiscal year.

Amgen Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be issued a dividend of $2.38 per share. 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. The ex-dividend date is Friday, February 14th. Amgen’s dividend payout ratio is 115.24%.

Analysts Set New Price Targets

AMGN has been the topic of a number of recent research reports. Leerink Partners reduced their price target on shares of Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Piper Sandler Companies restated an “overweight” rating and set a $310.00 target price on shares of Amgen in a report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft lowered their price target on Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. Wolfe Research initiated coverage on Amgen in a research note on Friday, November 15th. They set a “peer perform” rating on the stock. 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 given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $314.65.

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.