Zurich Insurance Group Ltd FI Has $4.74 Million Stake in Amgen Inc. (NASDAQ:AMGN)

Zurich Insurance Group Ltd FI trimmed its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 86.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,200 shares of the medical research company's stock after selling 112,088 shares during the period. Zurich Insurance Group Ltd FI's holdings in Amgen were worth $4,744,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ascent Wealth Partners LLC boosted its position in Amgen by 0.7% during the 4th quarter. Ascent Wealth Partners LLC now owns 9,024 shares of the medical research company's stock worth $2,352,000 after purchasing an additional 64 shares during the period. ICICI Prudential Asset Management Co Ltd boosted its position in Amgen by 242.2% during the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 23,999 shares of the medical research company's stock worth $6,255,000 after purchasing an additional 16,985 shares during the period. Fisher Asset Management LLC boosted its position in Amgen by 285.4% during the 4th quarter. Fisher Asset Management LLC now owns 394,489 shares of the medical research company's stock worth $102,820,000 after purchasing an additional 292,137 shares during the period. Aire Advisors LLC boosted its position in Amgen by 26.3% during the 4th quarter. Aire Advisors LLC now owns 13,280 shares of the medical research company's stock worth $3,461,000 after purchasing an additional 2,762 shares during the period. Finally, Beacon Harbor Wealth Advisors Inc. purchased a new stake in Amgen during the 4th quarter worth $3,531,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Performance

Shares of NASDAQ:AMGN traded down $0.24 during trading hours on Friday, hitting $271.66. The stock had a trading volume of 2,531,997 shares, compared to its average volume of 2,794,457. The stock's fifty day simple moving average is $286.82 and its 200 day simple moving average is $286.72. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The firm has a market capitalization of $146.07 billion, a price-to-earnings ratio of 35.98, a PEG ratio of 2.63 and a beta of 0.51. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, beating analysts' consensus estimates of $4.18 by $0.72. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The business had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. During the same quarter last year, the business earned $3.96 earnings per share. The business's revenue for the quarter was up 9.4% on a year-over-year basis. Sell-side analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be paid a dividend of $2.38 per share. The ex-dividend date is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.50%. Amgen's dividend payout ratio is presently 86.86%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Johnson Rice set a $294.00 price target on shares of Amgen in a research report on Wednesday, March 5th. UBS Group reissued a "neutral" rating and issued a $315.00 price objective (down from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Cantor Fitzgerald started coverage on shares of Amgen in a research report on Tuesday, April 22nd. They issued a "neutral" rating and a $305.00 price objective for the company. Morgan Stanley reissued an "equal weight" rating on shares of Amgen in a research report on Friday, May 2nd. Finally, Piper Sandler decreased their price objective on shares of Amgen from $329.00 to $328.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $309.22.

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.