Aveo Capital Partners LLC Has $294,000 Stake in Amgen Inc. (NASDAQ:AMGN)

Key Points

• Aveo Capital Partners LLC reduced its stake in Amgen by 55.0%, owning only 945 shares after selling 1,157 shares in the first quarter, valuing their holdings at $294,000.
• Amgen recently announced a quarterly dividend of $2.38, with a 3.3% yield, marking an annualized payout of $9.52.
• The company reported earnings of $6.02 per share for the last quarter, exceeding expectations by $0.74, and achieving revenue of $9.18 billion, which grew by 9.4% year-over-year.

Aveo Capital Partners LLC trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 55.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 945 shares of the medical research company's stock after selling 1,157 shares during the period. Aveo Capital Partners LLC's holdings in Amgen were worth $294,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital World Investors boosted its position in Amgen by 1,292.0% in the 4th quarter. Capital World Investors now owns 6,495,710 shares of the medical research company's stock valued at $1,693,042,000 after buying an additional 6,029,058 shares during the last quarter. GAMMA Investing LLC raised its stake in Amgen by 43,573.5% during the first quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company's stock worth $1,140,768,000 after acquiring an additional 3,653,205 shares during the period. Capital International Investors increased its stake in shares of Amgen by 40.1% in the fourth quarter. Capital International Investors now owns 12,212,065 shares of the medical research company's stock valued at $3,182,843,000 after purchasing an additional 3,495,503 shares during the period. Northern Trust Corp increased its stake in shares of Amgen by 15.8% in the fourth quarter. Northern Trust Corp now owns 6,431,029 shares of the medical research company's stock valued at $1,676,183,000 after purchasing an additional 875,254 shares during the period. Finally, Capital Research Global Investors boosted its holdings in shares of Amgen by 20.7% in the fourth quarter. Capital Research Global Investors now owns 4,890,092 shares of the medical research company's stock valued at $1,274,553,000 after acquiring an additional 839,686 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. William Blair restated an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Morgan Stanley increased their target price on shares of Amgen from $330.00 to $333.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Citigroup increased their target price on shares of Amgen from $305.00 to $310.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Piper Sandler reiterated an "overweight" rating and issued a $328.00 target price on shares of Amgen in a research report on Friday, June 27th. Finally, Bank of America raised their price target on shares of Amgen from $252.00 to $261.00 and gave the company an "underperform" rating in a report on Wednesday, July 23rd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $303.76.

Insider Buying and Selling

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the sale, the senior vice president owned 8,162 shares of the company's stock, valued at approximately $2,364,368.16. This represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.76% of the company's stock.

Amgen Price Performance

Shares of NASDAQ AMGN traded up $4.35 during trading on Wednesday, reaching $289.33. The company had a trading volume of 1,784,913 shares, compared to its average volume of 2,123,035. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $339.17. The stock has a market cap of $155.76 billion, a PE ratio of 23.66, a PEG ratio of 2.46 and a beta of 0.49. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. The business's 50 day moving average price is $293.07 and its 200-day moving average price is $292.82.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, topping analysts' consensus estimates of $5.28 by $0.74. The business had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. Amgen's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.97 earnings per share. Analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be paid a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Friday, August 22nd. Amgen's dividend payout ratio is presently 77.84%.

Amgen Company 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.