Amgen Inc. (NASDAQ:AMGN) is Aaron Wealth Advisors LLC's 2nd Largest Position

Aaron Wealth Advisors LLC reduced its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 19.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 201,228 shares of the medical research company's stock after selling 48,150 shares during the period. Amgen comprises 9.6% of Aaron Wealth Advisors LLC's investment portfolio, making the stock its 2nd biggest position. Aaron Wealth Advisors LLC's holdings in Amgen were worth $57,958,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Southland Equity Partners LLC boosted its position in Amgen by 2.3% during the fourth quarter. Southland Equity Partners LLC now owns 1,538 shares of the medical research company's stock valued at $443,000 after purchasing an additional 34 shares during the last quarter. Acropolis Investment Management LLC raised its holdings in Amgen by 3.5% during the fourth quarter. Acropolis Investment Management LLC now owns 999 shares of the medical research company's stock valued at $288,000 after buying an additional 34 shares in the last quarter. Opal Wealth Advisors LLC raised its holdings in Amgen by 1.9% during the fourth quarter. Opal Wealth Advisors LLC now owns 1,868 shares of the medical research company's stock valued at $538,000 after buying an additional 34 shares in the last quarter. FORVIS Wealth Advisors LLC raised its holdings in Amgen by 1.4% during the fourth quarter. FORVIS Wealth Advisors LLC now owns 2,578 shares of the medical research company's stock valued at $743,000 after buying an additional 35 shares in the last quarter. Finally, Evanson Asset Management LLC raised its holdings in Amgen by 2.1% during the fourth quarter. Evanson Asset Management LLC now owns 1,666 shares of the medical research company's stock valued at $480,000 after buying an additional 35 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Price Performance

NASDAQ AMGN traded down $3.91 during trading on Wednesday, reaching $266.45. 1,949,535 shares of the company traded hands, compared to its average volume of 2,921,338. 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 stock's 50 day moving average price is $282.97 and its two-hundred day moving average price is $281.46. The company has a market cap of $142.80 billion, a price-to-earnings ratio of 21.33, a P/E/G ratio of 2.54 and a beta of 0.58. Amgen Inc. has a 1-year low of $211.71 and a 1-year high of $329.72.

Amgen (NASDAQ:AMGN - Get Free Report) last released 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 company had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.13 billion. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The company's quarterly revenue was up 19.8% on a year-over-year basis. During the same period in the previous year, the business earned $4.09 earnings per share. As a group, analysts anticipate that Amgen Inc. will post 19.48 EPS for the current year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Thursday, May 16th. Amgen's payout ratio is currently 72.06%.

Analyst Upgrades and Downgrades

AMGN has been the topic of several recent research reports. Leerink Partnrs lowered Amgen from an "outperform" rating to a "market perform" rating in a report on Wednesday, February 7th. The Goldman Sachs Group lifted their price objective on Amgen from $313.00 to $350.00 and gave the stock a "buy" rating in a research note on Wednesday, February 7th. Oppenheimer reiterated an "outperform" rating and issued a $350.00 price objective on shares of Amgen in a research note on Thursday, February 1st. Daiwa Capital Markets upgraded Amgen from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $264.00 to $320.00 in a research note on Thursday, December 21st. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $329.00 price objective on shares of Amgen in a research note on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $295.30.

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.

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