Cognios Beta Neutral Large Cap Fund LP Sells 202 Shares of Amgen Inc. (NASDAQ:AMGN)

Cognios Beta Neutral Large Cap Fund LP lowered its position in shares of Amgen Inc. (NASDAQ:AMGN) by 8.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,135 shares of the medical research company’s stock after selling 202 shares during the quarter. Cognios Beta Neutral Large Cap Fund LP’s holdings in Amgen were worth $615,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of AMGN. Southland Equity Partners LLC grew 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 purchasing an additional 34 shares during the period. Acropolis Investment Management LLC boosted its stake in Amgen by 3.5% during the fourth quarter. Acropolis Investment Management LLC now owns 999 shares of the medical research company’s stock worth $288,000 after buying an additional 34 shares during the period. Opal Wealth Advisors LLC boosted its stake in Amgen by 1.9% during the fourth quarter. Opal Wealth Advisors LLC now owns 1,868 shares of the medical research company’s stock worth $538,000 after buying an additional 34 shares during the period. Marino Stram & Associates LLC boosted its stake in Amgen by 0.7% during the fourth quarter. Marino Stram & Associates LLC now owns 4,626 shares of the medical research company’s stock worth $1,332,000 after buying an additional 34 shares during the period. Finally, FORVIS Wealth Advisors LLC grew its holdings in shares of Amgen by 1.4% in the fourth 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. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

AMGN traded down $0.53 during trading on Wednesday, hitting $273.01. The stock had a trading volume of 2,466,582 shares, compared to its average volume of 2,840,533. The company has a debt-to-equity ratio of 10.14, a quick ratio of 1.13 and a current ratio of 1.65. The firm has a market capitalization of $146.44 billion, a P/E ratio of 21.72, a PEG ratio of 2.53 and a beta of 0.58. The company’s 50-day moving average price is $276.11 and its 200 day moving average price is $281.61. Amgen Inc. has a twelve month low of $211.71 and a twelve month high of $329.72.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share for the quarter, topping analysts’ consensus estimates of $4.66 by $0.05. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The business had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.13 billion. During the same period in the prior year, the company posted $4.09 EPS. The business’s revenue for the quarter was up 19.8% on a year-over-year basis. On average, equities research analysts forecast that Amgen Inc. will post 19.45 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be paid a dividend of $2.25 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.30%. Amgen’s dividend payout ratio (DPR) is presently 72.06%.

Analysts Set New Price Targets

AMGN has been the subject of a number of research reports. SVB Leerink cut shares of Amgen from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $324.00 to $318.00 in a report on Wednesday, February 7th. StockNews.com downgraded shares of Amgen from a “buy” rating to a “hold” rating in a research note on Thursday, March 28th. UBS Group decreased their price target on shares of Amgen from $314.00 to $284.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. TD Cowen decreased their price target on shares of Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Finally, Truist Financial reiterated a “buy” rating and issued a $320.00 price target on shares of Amgen in a research note on Friday, April 12th. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Amgen currently has a consensus rating of “Moderate Buy” and an average price target of $296.95.

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.