Integrated Advisors Network LLC Decreases Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Integrated Advisors Network LLC lessened its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 50.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,289 shares of the medical research company's stock after selling 12,684 shares during the period. Integrated Advisors Network LLC's holdings in Amgen were worth $3,203,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Centricity Wealth Management LLC purchased a new position in Amgen during the fourth quarter worth approximately $25,000. Pinney & Scofield Inc. acquired a new stake in shares of Amgen in the 4th quarter worth $26,000. Ritter Daniher Financial Advisory LLC DE raised its holdings in shares of Amgen by 66.2% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock worth $33,000 after acquiring an additional 51 shares during the period. Synergy Investment Management LLC acquired a new position in shares of Amgen during the 4th quarter valued at about $34,000. Finally, Atala Financial Inc acquired a new position in shares of Amgen during the 4th quarter valued at about $34,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Up 1.2%

AMGN traded up $3.48 during trading hours on Friday, hitting $287.02. 5,437,576 shares of the company's stock were exchanged, compared to its average volume of 2,806,757. The firm has a market cap of $154.33 billion, a P/E ratio of 38.02, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The firm has a 50 day moving average of $283.46 and a 200 day moving average of $285.31.

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

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be paid a $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend is Friday, May 16th. Amgen's payout ratio is presently 86.86%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company restated an "equal weight" rating on shares of Amgen in a research report on Wednesday, February 5th. Royal Bank of Canada cut their price target on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Piper Sandler reduced their price target on shares of Amgen from $329.00 to $328.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Wall Street Zen upgraded Amgen from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 18th. Finally, Erste Group Bank downgraded Amgen from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Amgen has an average rating of "Hold" and an average price target of $309.22.

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.