Waycross Partners LLC Has $648,000 Position in Amgen Inc. (NASDAQ:AMGN)

Waycross Partners LLC lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 13.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,250 shares of the medical research company’s stock after selling 350 shares during the period. Waycross Partners LLC’s holdings in Amgen were worth $648,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of AMGN. OFI Invest Asset Management acquired a new position in shares of Amgen during the 3rd quarter valued at $26,000. Briaud Financial Planning Inc acquired a new position in Amgen during the third quarter worth $26,000. BOK Financial Private Wealth Inc. acquired a new position in Amgen during the fourth quarter worth $29,000. Providence Capital Advisors LLC acquired a new position in Amgen during the third quarter worth $30,000. Finally, Planned Solutions Inc. acquired a new position in Amgen during the fourth quarter worth $30,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Ratings Changes

AMGN has been the topic of several research reports. StockNews.com downgraded shares of Amgen from a “buy” rating to a “hold” rating in a report on Thursday, March 28th. Morgan Stanley lowered their price objective on shares of Amgen from $281.00 to $278.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 7th. Truist Financial reiterated a “buy” rating and issued a $320.00 target price on shares of Amgen in a report on Friday, April 12th. SVB Leerink downgraded shares of Amgen from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $324.00 to $318.00 in a report on Wednesday, February 7th. Finally, Raymond James assumed coverage on shares of Amgen in a report on Thursday, March 28th. They issued a “market perform” rating for the company. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Amgen currently has a consensus rating of “Moderate Buy” and an average target price of $297.40.

Amgen Stock Performance

NASDAQ:AMGN traded down $2.44 on Tuesday, reaching $273.94. 2,476,256 shares of the company’s stock were exchanged, compared to its average volume of 2,816,730. The company has a debt-to-equity ratio of 10.14, a current ratio of 1.65 and a quick ratio of 1.13. The firm has a market cap of $146.94 billion, a price-to-earnings ratio of 21.93, a P/E/G ratio of 2.61 and a beta of 0.58. Amgen Inc. has a 52 week low of $211.71 and a 52 week high of $329.72. The stock has a fifty day simple moving average of $274.76 and a 200-day simple moving average of $281.37.

Amgen (NASDAQ:AMGN) last issued its 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. The firm had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.13 billion. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The company’s quarterly revenue was up 19.8% on a year-over-year basis. During the same quarter last year, the business earned $4.09 earnings per share. As a group, sell-side analysts predict that Amgen Inc. will post 19.43 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be given a dividend of $2.25 per share. The ex-dividend date is Thursday, May 16th. This represents a $9.00 dividend on an annualized basis and a yield of 3.29%. Amgen’s dividend payout ratio is presently 72.06%.

Amgen Company 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.