Argyle Capital Management Inc. Has $6.50 Million Holdings in Amgen Inc. (NASDAQ:AMGN)

Argyle Capital Management Inc. cut its holdings in Amgen Inc. (NASDAQ:AMGN) by 12.3% in the fourth quarter, HoldingsChannel reports. The firm owned 22,571 shares of the medical research company’s stock after selling 3,175 shares during the quarter. Amgen accounts for 2.7% of Argyle Capital Management Inc.’s portfolio, making the stock its 5th largest position. Argyle Capital Management Inc.’s holdings in Amgen were worth $6,501,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of AMGN. OFI Invest Asset Management purchased a new stake in Amgen during the 3rd quarter valued at $26,000. Briaud Financial Planning Inc purchased a new stake in shares of Amgen in the third quarter valued at $26,000. BOK Financial Private Wealth Inc. bought a new stake in shares of Amgen in the 4th quarter worth about $29,000. Providence Capital Advisors LLC bought a new stake in shares of Amgen in the 3rd quarter worth about $30,000. Finally, Planned Solutions Inc. purchased a new position in shares of Amgen during the 4th quarter worth about $30,000. Institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

AMGN has been the topic of a number of recent analyst reports. Leerink Partnrs lowered shares of Amgen from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $329.00 price target on shares of Amgen in a report on Wednesday, April 3rd. StockNews.com cut Amgen from a “buy” rating to a “hold” rating in a report on Thursday, March 28th. Truist Financial reaffirmed a “buy” rating and issued a $320.00 price objective on shares of Amgen in a research report on Friday, April 12th. Finally, Oppenheimer reiterated an “outperform” rating and set a $350.00 target price on shares of Amgen in a research report on Thursday, February 1st. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $296.95.

Amgen Stock Up 0.2 %

Shares of NASDAQ AMGN traded up $0.60 during midday trading on Friday, reaching $269.98. 2,436,959 shares of the company’s stock traded hands, compared to its average volume of 2,035,139. The company has a market cap of $144.81 billion, a price-to-earnings ratio of 21.62, a P/E/G ratio of 2.61 and a beta of 0.58. Amgen Inc. has a one year low of $211.71 and a one year high of $329.72. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 10.14. The stock’s 50 day simple moving average is $275.10 and its 200-day simple moving average is $281.51.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) 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 return on equity of 154.27% and a net margin of 23.83%. The business’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same quarter last year, the firm earned $4.09 EPS. On average, analysts predict that Amgen Inc. will post 19.43 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be issued a $2.25 dividend. The ex-dividend date is Thursday, May 16th. This represents a $9.00 dividend on an annualized basis and a yield of 3.33%. Amgen’s dividend payout ratio is presently 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.