Seven Mile Advisory Has $208,000 Stake in Amgen Inc. (NASDAQ:AMGN)

Seven Mile Advisory cut its position in shares of Amgen Inc. (NASDAQ:AMGN) by 7.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 723 shares of the medical research company’s stock after selling 60 shares during the quarter. Seven Mile Advisory’s holdings in Amgen were worth $208,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in AMGN. WealthPlan Investment Management LLC boosted its position in shares of Amgen by 82.6% during the 3rd quarter. WealthPlan Investment Management LLC now owns 840 shares of the medical research company’s stock worth $226,000 after purchasing an additional 380 shares in the last quarter. Advisor OS LLC boosted its holdings in Amgen by 18.5% in the third quarter. Advisor OS LLC now owns 1,234 shares of the medical research company’s stock worth $332,000 after acquiring an additional 193 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in Amgen by 2.5% in the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 5,001 shares of the medical research company’s stock valued at $1,344,000 after acquiring an additional 123 shares during the period. Main Street Financial Solutions LLC increased its holdings in shares of Amgen by 4.7% during the third quarter. Main Street Financial Solutions LLC now owns 2,537 shares of the medical research company’s stock valued at $682,000 after acquiring an additional 113 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Amgen during the third quarter worth approximately $288,000. 76.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AMGN has been the topic of several recent analyst reports. Morgan Stanley raised their price objective on Amgen from $271.00 to $310.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. StockNews.com upgraded shares of Amgen from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Barclays upgraded Amgen from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $230.00 to $300.00 in a research note on Friday, May 3rd. Truist Financial reiterated a “buy” rating and set a $320.00 price target on shares of Amgen in a report on Friday, April 12th. Finally, Raymond James initiated coverage on Amgen in a research note on Thursday, March 28th. They issued a “market perform” rating for the company. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $305.65.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 2,117 shares of Amgen stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $313.09, for a total transaction of $662,811.53. Following the completion of the transaction, the senior vice president now directly owns 9,883 shares in the company, valued at $3,094,268.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.69% of the company’s stock.

Amgen Price Performance

Shares of AMGN stock traded down $0.65 during trading hours on Wednesday, hitting $314.20. 782,532 shares of the company’s stock were exchanged, compared to its average volume of 2,821,468. Amgen Inc. has a 12-month low of $211.71 and a 12-month high of $329.72. The company has a market capitalization of $168.55 billion, a PE ratio of 44.78, a PEG ratio of 2.83 and a beta of 0.60. The business’s 50 day simple moving average is $282.91 and its 200-day simple moving average is $284.96. 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 (NASDAQ:AMGN) last posted its quarterly earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.76 by $0.20. The business had revenue of $7.45 billion for the quarter, compared to analyst estimates of $7.45 billion. Amgen had a return on equity of 156.21% and a net margin of 12.74%. Amgen’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same period last year, the company earned $3.98 EPS. On average, equities research analysts anticipate that Amgen Inc. will post 19.46 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend payout ratio is currently 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.