Guyasuta Investment Advisors Inc. Reduces Stock Position in Amgen Inc. (NASDAQ:AMGN)

Guyasuta Investment Advisors Inc. cut its stake in Amgen Inc. (NASDAQ:AMGN) by 22.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,082 shares of the medical research company’s stock after selling 890 shares during the quarter. Guyasuta Investment Advisors Inc.’s holdings in Amgen were worth $888,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AMGN. Briaud Financial Planning Inc purchased a new stake in shares of Amgen in the third quarter worth $26,000. BOK Financial Private Wealth Inc. bought a new stake in shares of Amgen during the 4th quarter valued at about $29,000. OFI Invest Asset Management purchased a new position in shares of Amgen during the third quarter worth about $26,000. Planned Solutions Inc. bought a new position in shares of Amgen in the fourth quarter worth approximately $30,000. Finally, Providence Capital Advisors LLC purchased a new position in Amgen in the 3rd quarter worth approximately $30,000. 76.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AMGN. The Goldman Sachs Group increased their price target on shares of Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. UBS Group dropped their price target on Amgen from $314.00 to $284.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Leerink Partnrs downgraded Amgen from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 7th. SVB Leerink cut shares of Amgen from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $324.00 to $318.00 in a report on Wednesday, February 7th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $320.00 target price on shares of Amgen in a research report on Friday, April 12th. 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $297.40.

Amgen Trading Up 2.0 %

Shares of NASDAQ AMGN traded up $5.38 during trading on Monday, reaching $275.36. The stock had a trading volume of 910,368 shares, compared to its average volume of 2,798,839. The business’s 50-day moving average price is $275.10 and its 200-day moving average price is $281.51. Amgen Inc. has a fifty-two week low of $211.71 and a fifty-two week 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. The company has a market cap of $147.70 billion, a P/E ratio of 21.62, a PEG ratio of 2.61 and a beta of 0.58.

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

Amgen Dividend Announcement

The business also recently disclosed 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 3.27%. The ex-dividend date is Thursday, May 16th. Amgen’s 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.