Greenspring Advisors LLC Sells 400 Shares of Amgen Inc. (NASDAQ:AMGN)

Greenspring Advisors LLC trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 6.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,000 shares of the medical research company’s stock after selling 400 shares during the quarter. Amgen accounts for about 0.3% of Greenspring Advisors LLC’s portfolio, making the stock its 24th largest position. Greenspring Advisors LLC’s holdings in Amgen were worth $1,564,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in Amgen during the 3rd quarter valued at approximately $25,000. Legacy Investment Solutions LLC acquired a new stake in shares of Amgen during the third quarter worth $29,000. Matrix Trust Co acquired a new position in Amgen in the third quarter valued at $36,000. Heck Capital Advisors LLC acquired a new position in Amgen in the fourth quarter valued at $36,000. Finally, Livelsberger Financial Advisory acquired a new stake in Amgen during the 3rd quarter worth about $56,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMGN has been the topic of a number of recent analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $405.00 price objective on shares of Amgen in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft dropped their price target on Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Piper Sandler lowered their price objective on shares of Amgen from $344.00 to $310.00 and set an “overweight” rating for the company in a research note on Thursday, January 2nd. Sanford C. Bernstein started coverage on shares of Amgen in a research note on Thursday, October 17th. They set an “outperform” rating and a $380.00 target price on the stock. Finally, Citigroup decreased their price target on shares of Amgen from $310.00 to $295.00 and set a “neutral” rating for the company in a research note on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $314.83.

Amgen Stock Performance

Amgen stock opened at $307.81 on Thursday. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The firm has a market capitalization of $165.46 billion, a PE ratio of 39.41, a price-to-earnings-growth ratio of 2.87 and a beta of 0.56. The firm’s 50 day simple moving average is $271.69 and its 200 day simple moving average is $303.55.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, topping the consensus estimate of $5.04 by $0.27. Amgen had a net margin of 13.00% and a return on equity of 168.35%. As a group, analysts expect that Amgen Inc. will post 19.56 earnings per share for the current fiscal year.

Amgen Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be paid a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Friday, February 14th. This is a boost from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio is currently 115.24%.

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.