ProVise Management Group LLC Sells 381 Shares of Amgen Inc. (NASDAQ:AMGN)

ProVise Management Group LLC cut its position in shares of Amgen Inc. (NASDAQ:AMGN) by 1.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 21,432 shares of the medical research company’s stock after selling 381 shares during the period. ProVise Management Group LLC’s holdings in Amgen were worth $6,173,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Amgen by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 49,035,981 shares of the medical research company’s stock valued at $13,178,910,000 after acquiring an additional 165,636 shares during the period. Northern Trust Corp boosted its holdings in Amgen by 3.8% during the 3rd quarter. Northern Trust Corp now owns 6,977,625 shares of the medical research company’s stock valued at $1,875,306,000 after acquiring an additional 255,463 shares during the period. Norges Bank purchased a new stake in Amgen during the 4th quarter valued at about $1,556,912,000. Royal Bank of Canada boosted its holdings 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 valued at $1,365,213,000 after acquiring an additional 518,689 shares during the period. Finally, Invesco Ltd. boosted its holdings in Amgen by 15.9% during the 3rd quarter. Invesco Ltd. now owns 3,356,359 shares of the medical research company’s stock valued at $902,055,000 after acquiring an additional 459,340 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AMGN has been the subject of several research analyst reports. BMO Capital Markets increased their price objective on Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Mizuho increased their price objective on Amgen from $223.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, May 9th. Barclays upgraded Amgen from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $230.00 to $300.00 in a report on Friday, May 3rd. TD Cowen dropped their price objective on Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Finally, UBS Group increased their price objective on Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. 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 currently has a consensus rating of “Moderate Buy” and an average price target of $305.65.

Insiders Place Their Bets

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $313.09, for a total value of $662,811.53. Following the transaction, the senior vice president now directly owns 9,883 shares in the company, valued at approximately $3,094,268.47. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.69% of the company’s stock.

Amgen Stock Down 0.2 %

AMGN stock traded down $0.66 on Friday, reaching $305.84. 2,424,481 shares of the company traded hands, compared to its average volume of 2,831,793. Amgen Inc. has a one year low of $211.71 and a one year high of $329.72. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.42 and a quick ratio of 0.98. The company has a market cap of $164.06 billion, a P/E ratio of 43.80, a price-to-earnings-growth ratio of 2.80 and a beta of 0.60. The firm has a fifty day simple moving average of $284.28 and a 200-day simple moving average of $285.28.

Amgen (NASDAQ:AMGN) last posted its earnings results on Thursday, May 2nd. The medical research company reported $3.96 EPS for the quarter, topping analysts’ consensus estimates of $3.76 by $0.20. The business had revenue of $7.45 billion during 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%. The company’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter last year, the company earned $3.98 EPS. Research analysts anticipate that Amgen Inc. will post 19.46 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s payout ratio is 128.57%.

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.