Yousif Capital Management LLC Has $21.05 Million Position in Amgen Inc. (NASDAQ:AMGN)

Yousif Capital Management LLC trimmed its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 1.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,070 shares of the medical research company’s stock after selling 1,136 shares during the quarter. Yousif Capital Management LLC’s holdings in Amgen were worth $21,046,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AMGN. International Assets Investment Management LLC bought a new position in Amgen in the 4th quarter valued at approximately $4,589,900,000. Assenagon Asset Management S.A. raised its stake in shares of Amgen by 486.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 899,232 shares of the medical research company’s stock valued at $258,997,000 after acquiring an additional 745,929 shares during the last quarter. abrdn plc lifted its holdings in shares of Amgen by 150.4% during the fourth quarter. abrdn plc now owns 1,043,609 shares of the medical research company’s stock worth $300,580,000 after purchasing an additional 626,810 shares during the period. Royal Bank of Canada grew its stake in shares of Amgen by 11.4% in the third quarter. Royal Bank of Canada now owns 5,079,677 shares of the medical research company’s stock worth $1,365,213,000 after purchasing an additional 518,689 shares during the last quarter. Finally, California Public Employees Retirement System grew its stake in shares of Amgen by 22.0% in the fourth quarter. California Public Employees Retirement System now owns 2,716,088 shares of the medical research company’s stock worth $782,288,000 after purchasing an additional 490,539 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on AMGN shares. Morgan Stanley cut their target price on Amgen from $281.00 to $278.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 7th. Leerink Partnrs cut Amgen from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 7th. TD Cowen lowered their price target on shares of Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $329.00 price objective on shares of Amgen in a research note on Wednesday, April 3rd. Finally, Truist Financial reissued a “buy” rating and set a $320.00 target price on shares of Amgen in a research note on Friday, April 12th. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Amgen has a consensus rating of “Moderate Buy” and an average price target of $296.95.

Amgen Stock Up 0.6 %

Shares of Amgen stock traded up $1.63 during trading hours on Tuesday, reaching $273.54. The company’s stock had a trading volume of 2,493,074 shares, compared to its average volume of 2,845,341. The company has a debt-to-equity ratio of 10.14, a quick ratio of 1.13 and a current ratio of 1.65. The stock’s fifty day simple moving average is $276.11 and its two-hundred day simple moving average is $281.61. The company has a market capitalization of $146.72 billion, a P/E ratio of 21.90, a P/E/G ratio of 2.50 and a beta of 0.58. Amgen Inc. has a one year low of $211.71 and a one year high of $329.72.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.66 by $0.05. The business had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.13 billion. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The firm’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same quarter last year, the firm earned $4.09 EPS. On average, research analysts forecast that Amgen Inc. will post 19.45 earnings per share for the current year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s payout ratio is currently 72.06%.

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.