Raymond James & Associates Sells 74,674 Shares of Amgen Inc. (NASDAQ:AMGN)

Raymond James & Associates reduced its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 6.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,079,536 shares of the medical research company's stock after selling 74,674 shares during the period. Raymond James & Associates owned about 0.20% of Amgen worth $306,934,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Cedar Brook Financial Partners LLC acquired a new stake in shares of Amgen in the third quarter worth approximately $200,000. Boston Trust Walden Corp lifted its position in Amgen by 11.8% during the third quarter. Boston Trust Walden Corp now owns 43,950 shares of the medical research company's stock worth $11,812,000 after buying an additional 4,650 shares in the last quarter. Strategic Blueprint LLC lifted its position in Amgen by 0.9% during the third quarter. Strategic Blueprint LLC now owns 5,545 shares of the medical research company's stock worth $1,490,000 after buying an additional 52 shares in the last quarter. Proficio Capital Partners LLC lifted its position in Amgen by 14.7% during the third quarter. Proficio Capital Partners LLC now owns 1,332 shares of the medical research company's stock worth $358,000 after buying an additional 171 shares in the last quarter. Finally, Capital Advisory Group Advisory Services LLC purchased a new position in Amgen during the third quarter worth approximately $227,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMGN has been the topic of a number of analyst reports. Truist Financial reiterated a "buy" rating and set a $320.00 price objective on shares of Amgen in a research report on Friday, April 12th. TD Cowen reduced their target price on Amgen from $370.00 to $360.00 and set a "buy" rating on the stock in a research report on Wednesday, April 17th. UBS Group reduced their target price on Amgen from $314.00 to $284.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 17th. StockNews.com downgraded Amgen from a "buy" rating to a "hold" rating in a research report on Thursday, March 28th. Finally, Morgan Stanley reduced their target price on Amgen from $281.00 to $278.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 7th. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $296.95.

Amgen Stock Up 0.2 %

Shares of NASDAQ:AMGN traded up $0.60 on Friday, hitting $269.98. 2,436,959 shares of the company's stock were exchanged, compared to its average volume of 2,035,139. Amgen Inc. has a 1-year low of $211.71 and a 1-year 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 capitalization of $144.81 billion, a PE ratio of 21.62, a P/E/G ratio of 2.60 and a beta of 0.58. The firm's 50-day moving average is $275.10 and its 200 day moving average is $281.52.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.66 by $0.05. The business had revenue of $8.20 billion during 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 business'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 EPS. Sell-side analysts predict that Amgen Inc. will post 19.43 EPS for the current year.

Amgen Announces Dividend

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 paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen's dividend payout ratio (DPR) is 72.06%.

About Amgen

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.