Amgen Inc. (NASDAQ:AMGN) Holdings Boosted by Verity & Verity LLC

Posted by Cynthia Vaughn on Mar 19th, 2023

Verity & Verity LLC increased its holdings in Amgen Inc. (NASDAQ:AMGN – Get Rating) by 5.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 74,898 shares of the medical research company’s stock after buying an additional 4,015 shares during the quarter. Amgen accounts for about 2.6% of Verity & Verity LLC’s investment portfolio, making the stock its 7th largest position. Verity & Verity LLC’s holdings in Amgen were worth $19,671,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in AMGN. EdgeRock Capital LLC purchased a new position in shares of Amgen in the third quarter worth approximately $25,000. Leelyn Smith LLC raised its stake in Amgen by 80.3% during the 3rd quarter. Leelyn Smith LLC now owns 110 shares of the medical research company’s stock worth $25,000 after acquiring an additional 49 shares during the period. Capital Wealth Alliance LLC bought a new stake in Amgen during the 2nd quarter worth approximately $26,000. Glassy Mountain Advisors Inc. bought a new stake in Amgen during the 4th quarter worth approximately $26,000. Finally, Coston McIsaac & Partners bought a new stake in Amgen during the 2nd quarter worth approximately $27,000. Hedge funds and other institutional investors own 75.53% of the company’s stock.

Amgen Trading Down 2.0 %

AMGN stock opened at $229.79 on Friday. The firm has a fifty day moving average price of $245.91 and a 200 day moving average price of $254.81. Amgen Inc. has a fifty-two week low of $223.30 and a fifty-two week high of $296.67. The company has a debt-to-equity ratio of 10.20, a quick ratio of 1.10 and a current ratio of 1.41. The firm has a market cap of $122.70 billion, a PE ratio of 18.98, a price-to-earnings-growth ratio of 1.89 and a beta of 0.65.

Amgen (NASDAQ:AMGN – Get Rating) last posted its earnings results on Tuesday, February 7th. The medical research company reported $4.09 earnings per share for the quarter, beating analysts’ consensus estimates of $4.04 by $0.05. Amgen had a net margin of 24.89% and a return on equity of 359.47%. The firm had revenue of $6.84 billion during the quarter, compared to analyst estimates of $6.77 billion. During the same period last year, the firm posted $4.36 earnings per share. Amgen’s revenue for the quarter was down .1% compared to the same quarter last year. Sell-side analysts anticipate that Amgen Inc. will post 17.72 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 8th. Shareholders of record on Thursday, May 18th will be paid a dividend of $2.13 per share. This represents a $8.52 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend is Wednesday, May 17th. Amgen’s payout ratio is 70.36%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. StockNews.com assumed coverage on shares of Amgen in a research note on Thursday. They set a “strong-buy” rating on the stock. Truist Financial decreased their target price on shares of Amgen from $280.00 to $260.00 and set a “buy” rating on the stock in a research note on Monday, February 13th. Barclays reduced their price objective on shares of Amgen from $240.00 to $230.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 1st. Piper Sandler reduced their price objective on shares of Amgen from $299.00 to $293.00 and set an “overweight” rating on the stock in a research report on Thursday, January 19th. Finally, Credit Suisse Group reduced their price objective on shares of Amgen from $240.00 to $220.00 and set an “underperform” rating on the stock in a research report on Wednesday, February 1st. Four analysts have rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Amgen presently has a consensus rating of “Hold” and an average price target of $251.44.

Amgen Company Profile

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Amgen, Inc is a biotechnology company, which engages in the discovery, development, manufacture, and marketing of human therapeutics. It operates through Human Therapeutics segment. The company was founded by William K. Bowes, Jr., Franklin Pitcher Johnson, Jr., George B. Rathmann, and Joseph Rubinfeld on April 8, 1980 and is headquartered in Thousand Oaks, CA.