Lynch & Associates IN Sells 171 Shares of Amgen Inc. (NASDAQ:AMGN)

Lynch & Associates IN trimmed its holdings in Amgen Inc. (NASDAQ:AMGN) by 3.2% during the fourth quarter, Holdings Channel reports. The firm owned 5,154 shares of the medical research company’s stock after selling 171 shares during the quarter. Lynch & Associates IN’s holdings in Amgen were worth $1,343,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of AMGN. HBW Advisory Services LLC lifted its position in shares of Amgen by 1.0% during the fourth quarter. HBW Advisory Services LLC now owns 8,559 shares of the medical research company’s stock worth $2,231,000 after acquiring an additional 88 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in Amgen by 2.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 11,712 shares of the medical research company’s stock valued at $3,053,000 after purchasing an additional 285 shares in the last quarter. ORG Wealth Partners LLC lifted its stake in Amgen by 10.6% during the fourth quarter. ORG Wealth Partners LLC now owns 1,227 shares of the medical research company’s stock worth $320,000 after purchasing an additional 118 shares during the last quarter. Ridgewood Investments LLC raised its holdings in shares of Amgen by 11,422.2% during the 4th quarter. Ridgewood Investments LLC now owns 2,074 shares of the medical research company’s stock valued at $541,000 after buying an additional 2,056 shares in the last quarter. Finally, Hilltop National Bank boosted its stake in Amgen by 12.4% in the fourth quarter. Hilltop National Bank now owns 6,875 shares of the medical research company’s stock worth $1,792,000 after buying an additional 758 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

NASDAQ:AMGN traded down $1.98 on Friday, hitting $262.23. The stock had a trading volume of 2,704,605 shares, compared to its average volume of 3,047,914. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The stock has a market cap of $140.96 billion, a price-to-earnings ratio of 33.58, a price-to-earnings-growth ratio of 2.91 and a beta of 0.56. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The business’s 50-day simple moving average is $280.24 and its two-hundred day simple moving average is $309.15.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping the consensus estimate of $5.11 by $0.47. The firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter last year, the company earned $4.96 earnings per share. As a group, research analysts predict that Amgen Inc. will post 19.53 earnings per share for the current year.

Amgen Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be paid a $2.38 dividend. This is a positive change from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.63%. Amgen’s dividend payout ratio is 121.90%.

Analysts Set New Price Targets

A number of research firms have issued reports on AMGN. Barclays boosted their price objective on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. UBS Group decreased their price objective on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Citigroup reduced their price target on shares of Amgen from $335.00 to $310.00 in a research report on Wednesday, November 27th. Cantor Fitzgerald restated an “overweight” rating and issued a $405.00 price objective on shares of Amgen in a report on Tuesday, October 22nd. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $380.00 target price on shares of Amgen in a report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $314.91.

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.