ICICI Prudential Asset Management Co Ltd Sells 13,770 Shares of Amgen Inc. (NASDAQ:AMGN)

ICICI Prudential Asset Management Co Ltd decreased its stake in Amgen Inc. (NASDAQ:AMGNFree Report) by 72.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 5,194 shares of the medical research company’s stock after selling 13,770 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in Amgen were worth $1,496,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Southland Equity Partners LLC raised its holdings in shares of Amgen by 2.3% in the fourth quarter. Southland Equity Partners LLC now owns 1,538 shares of the medical research company’s stock valued at $443,000 after acquiring an additional 34 shares in the last quarter. Acropolis Investment Management LLC increased its position in Amgen by 3.5% during the 4th quarter. Acropolis Investment Management LLC now owns 999 shares of the medical research company’s stock valued at $288,000 after purchasing an additional 34 shares during the period. FORVIS Wealth Advisors LLC raised its holdings in shares of Amgen by 1.4% in the 4th quarter. FORVIS Wealth Advisors LLC now owns 2,578 shares of the medical research company’s stock valued at $743,000 after purchasing an additional 35 shares in the last quarter. Evanson Asset Management LLC lifted its position in shares of Amgen by 2.1% in the 4th quarter. Evanson Asset Management LLC now owns 1,666 shares of the medical research company’s stock worth $480,000 after purchasing an additional 35 shares during the period. Finally, Rosenberg Matthew Hamilton boosted its stake in shares of Amgen by 4.7% during the fourth quarter. Rosenberg Matthew Hamilton now owns 831 shares of the medical research company’s stock valued at $239,000 after purchasing an additional 37 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Stock Performance

Shares of NASDAQ:AMGN traded down $1.98 on Friday, hitting $284.32. 2,289,919 shares of the company were exchanged, compared to its average volume of 3,134,154. The firm has a market capitalization of $152.37 billion, a P/E ratio of 22.76, a price-to-earnings-growth ratio of 2.70 and a beta of 0.58. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 10.14. Amgen Inc. has a 1-year low of $211.71 and a 1-year high of $329.72. The stock’s 50 day moving average price is $289.21 and its 200 day moving average price is $280.88.

Amgen (NASDAQ:AMGNGet Free Report) last issued its earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.66 by $0.05. The company had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.13 billion. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The firm’s quarterly revenue was up 19.8% on a year-over-year basis. During the same quarter last year, the business posted $4.09 EPS. Sell-side analysts predict that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be given a $2.25 dividend. 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 3.17%. Amgen’s dividend payout ratio is currently 72.06%.

Analyst Ratings Changes

A number of equities analysts recently commented on AMGN shares. UBS Group reduced their price objective on shares of Amgen from $315.00 to $314.00 and set a “neutral” rating for the company in a research note on Monday, January 29th. BMO Capital Markets raised Amgen from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $286.00 to $326.00 in a research report on Tuesday, December 19th. Royal Bank of Canada raised their price objective on Amgen from $303.00 to $329.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Oppenheimer reiterated an “outperform” rating and issued a $350.00 target price on shares of Amgen in a report on Thursday, February 1st. Finally, Raymond James started coverage on shares of Amgen in a report on Thursday. They issued a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $295.30.

View Our Latest Report on AMGN

Amgen Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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