Amgen Inc. (NASDAQ:AMGN) Shares Sold by UNIVEST FINANCIAL Corp

UNIVEST FINANCIAL Corp lessened its holdings in Amgen Inc. (NASDAQ:AMGN) by 3.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,573 shares of the medical research company’s stock after selling 54 shares during the period. UNIVEST FINANCIAL Corp’s holdings in Amgen were worth $453,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. International Assets Investment Management LLC acquired a new stake in shares of Amgen in the fourth quarter valued at $4,589,900,000. Assenagon Asset Management S.A. lifted its position in shares of Amgen by 486.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 899,232 shares of the medical research company’s stock worth $258,997,000 after purchasing an additional 745,929 shares in the last quarter. abrdn plc boosted its stake in shares of Amgen by 150.4% in the fourth quarter. abrdn plc now owns 1,043,609 shares of the medical research company’s stock valued at $300,580,000 after purchasing an additional 626,810 shares during the period. Los Angeles Capital Management LLC grew its holdings in shares of Amgen by 111.9% in the fourth quarter. Los Angeles Capital Management LLC now owns 989,061 shares of the medical research company’s stock valued at $284,869,000 after purchasing an additional 522,367 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in Amgen by 11.4% during the 3rd quarter. Royal Bank of Canada now owns 5,079,677 shares of the medical research company’s stock worth $1,365,213,000 after buying an additional 518,689 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Trading Up 0.3 %

Shares of Amgen stock traded up $0.82 during trading hours on Tuesday, reaching $300.30. The stock had a trading volume of 2,438,623 shares, compared to its average volume of 2,910,151. The firm has a market capitalization of $161.07 billion, a price-to-earnings ratio of 42.78, a P/E/G ratio of 3.00 and a beta of 0.60. The company has a current ratio of 1.42, a quick ratio of 0.98 and a debt-to-equity ratio of 11.96. Amgen Inc. has a 1 year low of $211.71 and a 1 year high of $329.72. The firm has a 50 day simple moving average of $275.21 and a two-hundred day simple moving average of $281.59.

Amgen (NASDAQ:AMGN) last announced its earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, beating the consensus estimate of $3.76 by $0.20. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The business had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.45 billion. During the same period in the prior year, the firm earned $3.98 earnings per share. The business’s quarterly revenue was up 22.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Amgen Inc. will post 19.46 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be paid a dividend of $2.25 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $9.00 dividend on an annualized basis and a yield of 3.00%. Amgen’s dividend payout ratio (DPR) is presently 128.57%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. William Blair upgraded shares of Amgen from a “market perform” rating to an “outperform” rating in a research note on Friday. Barclays raised Amgen from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $230.00 to $300.00 in a research report on Friday. BMO Capital Markets boosted their price objective on Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a research report on Friday. Truist Financial reaffirmed a “buy” rating and issued a $320.00 target price on shares of Amgen in a report on Friday, April 12th. Finally, UBS Group boosted their price target on shares of Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a report on Friday. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Amgen presently has a consensus rating of “Moderate Buy” and a consensus price target of $305.05.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $313.09, for a total value of $662,811.53. Following the completion of the sale, the senior vice president now owns 9,883 shares of the company’s stock, valued at approximately $3,094,268.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.69% of the stock is currently owned by corporate insiders.

Amgen 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.