Mirador Capital Partners LP Trims Position in Amgen Inc. (NASDAQ:AMGN)

Mirador Capital Partners LP decreased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 30.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,053 shares of the medical research company’s stock after selling 455 shares during the quarter. Mirador Capital Partners LP’s holdings in Amgen were worth $275,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of AMGN. State Street Corp lifted its position in shares of Amgen by 1.2% in the third quarter. State Street Corp now owns 29,317,018 shares of the medical research company’s stock valued at $9,446,236,000 after acquiring an additional 345,537 shares in the last quarter. Geode Capital Management LLC raised its stake in Amgen by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 12,122,889 shares of the medical research company’s stock valued at $3,893,771,000 after purchasing an additional 103,851 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Amgen by 2.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,532,629 shares of the medical research company’s stock worth $3,393,718,000 after purchasing an additional 251,876 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Amgen by 11.7% in the 3rd quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock worth $1,657,183,000 after purchasing an additional 538,545 shares during the period. Finally, Pathway Financial Advisers LLC grew its holdings in Amgen by 33,125.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after buying an additional 4,446,757 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Trading Up 0.2 %

Shares of NASDAQ AMGN opened at $269.43 on Friday. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The company has a market cap of $144.83 billion, a price-to-earnings ratio of 34.50, a PEG ratio of 2.68 and a beta of 0.56. The business’s 50 day moving average price is $276.06 and its 200-day moving average price is $307.76.

Amgen (NASDAQ:AMGN) last released its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping the consensus estimate of $5.11 by $0.47. The business had revenue of $8.50 billion during 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 period last year, the company earned $4.96 earnings per share. On average, sell-side analysts expect that Amgen Inc. will post 19.57 earnings per share for the current year.

Amgen Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be given a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.53%. Amgen’s dividend payout ratio (DPR) is 115.24%.

Analysts Set New Price Targets

AMGN has been the topic of several research analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $405.00 target price on shares of Amgen in a research report on Tuesday, October 22nd. Royal Bank of Canada dropped their price objective on shares of Amgen from $360.00 to $330.00 and set an “outperform” rating for the company in a report on Wednesday, November 27th. Jefferies Financial Group restated a “buy” rating and set a $380.00 price objective on shares of Amgen in a research report on Tuesday, November 12th. Wells Fargo & Company decreased their target price on Amgen from $335.00 to $280.00 and set an “equal weight” rating on the stock in a research report on Friday, January 10th. Finally, Leerink Partners cut their price target on Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $314.91.

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.