Carret Asset Management LLC Sells 40 Shares of Amgen Inc. (NASDAQ:AMGN)

Carret Asset Management LLC lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 0.7% in the 4th quarter, Holdings Channel reports. The firm owned 5,787 shares of the medical research company’s stock after selling 40 shares during the period. Carret Asset Management LLC’s holdings in Amgen were worth $1,667,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cedar Brook Financial Partners LLC purchased a new stake in Amgen in the 3rd quarter worth about $200,000. Boston Trust Walden Corp increased its position in shares of Amgen by 11.8% during the third quarter. Boston Trust Walden Corp now owns 43,950 shares of the medical research company’s stock worth $11,812,000 after acquiring an additional 4,650 shares during the period. Strategic Blueprint LLC increased its position in shares of Amgen by 0.9% during the third quarter. Strategic Blueprint LLC now owns 5,545 shares of the medical research company’s stock worth $1,490,000 after acquiring an additional 52 shares during the period. Proficio Capital Partners LLC increased its position in shares of Amgen by 14.7% during the third quarter. Proficio Capital Partners LLC now owns 1,332 shares of the medical research company’s stock worth $358,000 after acquiring an additional 171 shares during the period. Finally, Capital Advisory Group Advisory Services LLC purchased a new position in shares of Amgen during the third quarter worth approximately $227,000. Institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

AMGN has been the topic of several research reports. Raymond James initiated coverage on shares of Amgen in a report on Thursday, March 28th. They set a “market perform” rating on the stock. Truist Financial restated a “buy” rating and issued a $320.00 target price on shares of Amgen in a research note on Friday, April 12th. Morgan Stanley lowered their target price on shares of Amgen from $281.00 to $278.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 7th. The Goldman Sachs Group lifted their price objective on shares of Amgen from $313.00 to $350.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Finally, Oppenheimer reiterated an “outperform” rating and set a $350.00 price objective on shares of Amgen in a research note on Thursday, February 1st. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $296.95.

Amgen Stock Down 1.7 %

AMGN traded down $4.75 during trading hours on Thursday, hitting $268.26. 503,195 shares of the company’s stock were exchanged, compared to its average volume of 2,810,736. Amgen Inc. has a 12-month low of $211.71 and a 12-month high of $329.72. The firm has a 50 day moving average of $275.77 and a 200 day moving average of $281.55. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 10.14. The firm has a market cap of $143.89 billion, a P/E ratio of 21.86, a price-to-earnings-growth ratio of 2.55 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last issued 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. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The business had revenue of $8.20 billion during the quarter, compared to analysts’ expectations of $8.13 billion. During the same quarter in the prior year, the business posted $4.09 EPS. The company’s revenue for the quarter was up 19.8% on a year-over-year basis. Analysts predict that Amgen Inc. will post 19.42 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend 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.