Parthenon LLC Lowers Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Parthenon LLC trimmed its position in shares of Amgen Inc. (NASDAQ:AMGN) by 4.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,177 shares of the medical research company’s stock after selling 50 shares during the quarter. Parthenon LLC’s holdings in Amgen were worth $339,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Amgen by 1.7% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 11,658 shares of the medical research company’s stock valued at $3,133,000 after buying an additional 193 shares during the period. Diversified Trust Co raised its position in shares of Amgen by 76.8% during the 4th quarter. Diversified Trust Co now owns 37,695 shares of the medical research company’s stock worth $10,857,000 after acquiring an additional 16,376 shares in the last quarter. Nicolet Advisory Services LLC raised its position in shares of Amgen by 4.4% during the 3rd quarter. Nicolet Advisory Services LLC now owns 2,805 shares of the medical research company’s stock worth $745,000 after acquiring an additional 117 shares in the last quarter. Platform Technology Partners raised its position in shares of Amgen by 7.4% during the 3rd quarter. Platform Technology Partners now owns 5,830 shares of the medical research company’s stock worth $1,567,000 after acquiring an additional 402 shares in the last quarter. Finally, Traynor Capital Management Inc. raised its position in shares of Amgen by 9.5% during the 4th quarter. Traynor Capital Management Inc. now owns 18,941 shares of the medical research company’s stock worth $5,455,000 after acquiring an additional 1,650 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Trading Down 0.9 %

Amgen stock traded down $2.44 during trading on Tuesday, hitting $273.94. The company’s stock had a trading volume of 2,476,256 shares, compared to its average volume of 2,816,730. The stock has a market capitalization of $146.94 billion, a price-to-earnings ratio of 21.93, a P/E/G ratio of 2.61 and a beta of 0.58. The stock’s fifty day moving average is $274.76 and its 200 day moving average is $281.37. Amgen Inc. has a 1-year low of $211.71 and a 1-year 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 results on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.66 by $0.05. The company had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.13 billion. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The firm’s revenue was up 19.8% on a year-over-year basis. During the same period in the prior year, the firm posted $4.09 earnings per share. As a group, equities research analysts predict that Amgen Inc. will post 19.43 EPS for the current year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be paid a dividend of $2.25 per share. The ex-dividend date is Thursday, May 16th. This represents a $9.00 annualized dividend and a yield of 3.29%. Amgen’s dividend payout ratio is presently 72.06%.

Analyst Upgrades and Downgrades

AMGN has been the topic of several research analyst reports. 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 research report on Wednesday, February 7th. TD Cowen dropped their target price on Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. Royal Bank of Canada reissued an “outperform” rating and issued a $329.00 target price on shares of Amgen in a report on Wednesday, April 3rd. Oppenheimer reissued an “outperform” rating and issued a $350.00 target price on shares of Amgen in a report on Thursday, February 1st. Finally, Truist Financial reissued a “buy” rating and issued a $320.00 target price on shares of Amgen in a report on Friday, April 12th. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Amgen currently has a consensus rating of “Moderate Buy” and a consensus price target of $297.40.

About Amgen

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.