Amgen Inc. (NASDAQ:AMGN) Shares Sold by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC trimmed its position in shares of Amgen Inc. (NASDAQ:AMGN) by 8.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,573 shares of the medical research company’s stock after selling 1,073 shares during the period. Resonant Capital Advisors LLC’s holdings in Amgen were worth $3,333,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AMGN. OFI Invest Asset Management acquired a new position in Amgen during the 3rd quarter worth $26,000. Briaud Financial Planning Inc acquired a new position in Amgen during the 3rd quarter worth $26,000. Strategic Investment Solutions Inc. IL acquired a new position in Amgen during the 1st quarter worth $28,000. BOK Financial Private Wealth Inc. acquired a new position in Amgen during the 4th quarter worth $29,000. Finally, Providence Capital Advisors LLC acquired a new position in Amgen during the 3rd quarter worth $30,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AMGN. Oppenheimer reissued an “outperform” rating and set a $350.00 price objective on shares of Amgen in a report on Thursday, February 1st. TD Cowen reduced their price target on shares of Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a research report on Wednesday. Daiwa Capital Markets upgraded shares of Amgen from a “neutral” rating to a “buy” rating and raised their price target for the stock from $264.00 to $320.00 in a research report on Thursday, December 21st. SVB Leerink downgraded shares of Amgen from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $324.00 to $318.00 in a research report on Wednesday, February 7th. Finally, UBS Group reduced their price target on shares of Amgen from $314.00 to $284.00 and set a “neutral” rating on the stock in a research report on Wednesday. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $296.95.

Amgen Price Performance

Shares of AMGN traded up $6.32 during mid-day trading on Friday, hitting $269.07. The company’s stock had a trading volume of 1,865,544 shares, compared to its average volume of 2,836,167. The firm has a 50-day moving average price of $277.34 and a 200 day moving average price of $281.24. The stock has a market capitalization of $144.20 billion, a price-to-earnings ratio of 21.22, a PEG ratio of 2.46 and a beta of 0.58. The company has a debt-to-equity ratio of 10.14, a current ratio of 1.65 and a quick ratio of 1.13. Amgen Inc. has a fifty-two week low of $211.71 and a fifty-two week high of $329.72.

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, topping the consensus estimate of $4.66 by $0.05. The company 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 business’s revenue was up 19.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.09 EPS. On average, research analysts predict that Amgen Inc. will post 19.45 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. Stockholders of record on Friday, May 17th will be given a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend payout ratio (DPR) is currently 72.06%.

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.