Prio Wealth Limited Partnership Trims Stake in Amgen Inc. (NASDAQ:AMGN)

Prio Wealth Limited Partnership lessened its position in Amgen Inc. (NASDAQ:AMGN) by 4.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 25,525 shares of the medical research company’s stock after selling 1,299 shares during the quarter. Prio Wealth Limited Partnership’s holdings in Amgen were worth $7,975,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Jones Financial Companies Lllp lifted its position in Amgen by 61.2% during the 4th quarter. Jones Financial Companies Lllp now owns 3,084 shares of the medical research company’s stock valued at $888,000 after acquiring an additional 1,171 shares during the period. CWA Asset Management Group LLC lifted its holdings in shares of Amgen by 17.7% during the fourth quarter. CWA Asset Management Group LLC now owns 2,747 shares of the medical research company’s stock valued at $791,000 after purchasing an additional 413 shares during the last quarter. Capital International Investors boosted its holdings in Amgen by 45.6% in the fourth quarter. Capital International Investors now owns 1,081,354 shares of the medical research company’s stock worth $311,452,000 after acquiring an additional 338,515 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Amgen by 314.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 103,567 shares of the medical research company’s stock valued at $29,829,000 after acquiring an additional 78,592 shares in the last quarter. Finally, Crossmark Global Holdings Inc. raised its position in shares of Amgen by 0.4% in the 4th quarter. Crossmark Global Holdings Inc. now owns 113,415 shares of the medical research company’s stock worth $32,665,000 after purchasing an additional 487 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on AMGN. Wells Fargo & Company downgraded shares of Amgen from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $320.00 to $335.00 in a research report on Wednesday, August 7th. TD Cowen increased their target price on Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Royal Bank of Canada restated an “outperform” rating and issued a $362.00 price target on shares of Amgen in a research note on Thursday, September 26th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $305.00 price objective (down from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Finally, Robert W. Baird reissued an “underperform” rating and issued a $215.00 target price on shares of Amgen in a research report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Amgen presently has an average rating of “Moderate Buy” and a consensus price target of $325.55.

Amgen Stock Performance

AMGN opened at $320.32 on Wednesday. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. Amgen Inc. has a 1-year low of $249.70 and a 1-year high of $346.85. The company has a 50 day simple moving average of $328.23 and a two-hundred day simple moving average of $308.48. The firm has a market cap of $171.83 billion, a P/E ratio of 45.76, a PEG ratio of 2.98 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). The business had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The business’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period in the previous year, the business earned $5.00 earnings per share. Equities analysts forecast that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.81%. The ex-dividend date was Friday, August 16th. Amgen’s payout ratio is 128.57%.

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.