Principle Wealth Partners LLC Sells 300 Shares of Amgen Inc. (NASDAQ:AMGN)

Principle Wealth Partners LLC trimmed its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 0.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,985 shares of the medical research company’s stock after selling 300 shares during the quarter. Amgen makes up 1.5% of Principle Wealth Partners LLC’s holdings, making the stock its 13th biggest holding. Principle Wealth Partners LLC’s holdings in Amgen were worth $17,853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC bought a new stake in Amgen in the fourth quarter worth approximately $4,589,900,000. Assenagon Asset Management S.A. increased its holdings in Amgen by 486.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 899,232 shares of the medical research company’s stock worth $258,997,000 after purchasing an additional 745,929 shares in the last quarter. abrdn plc increased its holdings in Amgen by 150.4% in 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 in the last quarter. Royal Bank of Canada grew its stake in 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 valued at $1,365,213,000 after acquiring an additional 518,689 shares during the period. Finally, California Public Employees Retirement System grew its stake in 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 valued at $782,288,000 after acquiring an additional 490,539 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Up 0.2 %

Shares of AMGN traded up $0.60 on Friday, reaching $269.98. The stock had a trading volume of 2,436,959 shares, compared to its average volume of 2,035,139. The company has a 50-day simple moving average of $275.10 and a 200-day simple moving average of $281.52. The firm has a market capitalization of $144.81 billion, a price-to-earnings ratio of 21.62, a price-to-earnings-growth ratio of 2.61 and a beta of 0.58. Amgen Inc. has a 12-month low of $211.71 and a 12-month high of $329.72. The company has a debt-to-equity ratio of 10.14, a quick ratio of 1.13 and a current ratio of 1.65.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.66 by $0.05. The business had revenue of $8.20 billion during 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 firm’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.09 earnings per share. Sell-side analysts predict that Amgen Inc. will post 19.43 EPS for the current year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend payout ratio is currently 72.06%.

Analysts Set New Price Targets

AMGN has been the subject of a number of research reports. Leerink Partnrs cut Amgen from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 7th. Truist Financial reissued a “buy” rating and set a $320.00 price objective on shares of Amgen in a report on Friday, April 12th. The Goldman Sachs Group raised their price target on Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. StockNews.com lowered Amgen from a “buy” rating to a “hold” rating in a research report on Thursday, March 28th. Finally, TD Cowen reduced their price target on Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Amgen currently has a consensus rating of “Moderate Buy” and an average target price of $296.95.

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.