NTV Asset Management LLC Cuts Stock Position in Amgen Inc. (NASDAQ:AMGN)

NTV Asset Management LLC trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 0.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,927 shares of the medical research company’s stock after selling 77 shares during the period. NTV Asset Management LLC’s holdings in Amgen were worth $3,147,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of AMGN. International Assets Investment Management LLC purchased a new stake in shares of Amgen during the fourth quarter valued at approximately $4,589,900,000. Assenagon Asset Management S.A. increased its stake in Amgen by 486.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 899,232 shares of the medical research company’s stock worth $258,997,000 after buying an additional 745,929 shares during the period. abrdn plc lifted its holdings in Amgen by 150.4% in the 4th quarter. abrdn plc now owns 1,043,609 shares of the medical research company’s stock worth $300,580,000 after buying an additional 626,810 shares in the last quarter. Los Angeles Capital Management LLC boosted its position in Amgen by 111.9% in the 4th quarter. Los Angeles Capital Management LLC now owns 989,061 shares of the medical research company’s stock valued at $284,869,000 after buying an additional 522,367 shares during the last quarter. Finally, Royal Bank of Canada grew its stake in shares of Amgen by 11.4% during the third quarter. Royal Bank of Canada now owns 5,079,677 shares of the medical research company’s stock valued at $1,365,213,000 after acquiring an additional 518,689 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

AMGN stock traded up $32.90 during trading on Friday, hitting $311.29. The company had a trading volume of 9,644,682 shares, compared to its average volume of 2,279,398. The business has a 50 day moving average of $274.95 and a 200 day moving average of $281.50. The firm has a market capitalization of $166.97 billion, a price-to-earnings ratio of 44.47, a P/E/G ratio of 2.69 and a beta of 0.60. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 10.14. Amgen Inc. has a fifty-two week low of $211.71 and a fifty-two week high of $329.72.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.76 by $0.20. Amgen had a net margin of 12.74% and a return on equity of 145.62%. The business had revenue of $7.45 billion during the quarter, compared to analysts’ expectations of $7.45 billion. During the same period last year, the firm posted $3.98 earnings per share. The business’s revenue was up 22.0% on a year-over-year basis. As a group, research analysts predict that Amgen Inc. will post 19.43 earnings per share for the current year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be paid a dividend of $2.25 per share. The ex-dividend date is Thursday, May 16th. This represents a $9.00 annualized dividend and a yield of 2.89%. Amgen’s dividend payout ratio is currently 128.57%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Oppenheimer reissued an “outperform” rating and issued a $350.00 price target on shares of Amgen in a report on Thursday, February 1st. Truist Financial reissued a “buy” rating and set a $320.00 price target on shares of Amgen in a research report on Friday, April 12th. Morgan Stanley upped their price target on shares of Amgen from $271.00 to $310.00 and gave the company an “equal weight” rating in a report on Friday. StockNews.com raised shares of Amgen from a “hold” rating to a “buy” rating in a report on Friday. Finally, Royal Bank of Canada cut their target price on shares of Amgen from $332.00 to $328.00 and set an “outperform” rating on the stock in a research note on Friday. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Amgen presently has a consensus rating of “Moderate Buy” and an average target price of $305.05.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 2,117 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $313.09, for a total value of $662,811.53. Following the sale, the senior vice president now directly owns 9,883 shares in the company, valued at approximately $3,094,268.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.46% of the stock is owned by corporate insiders.

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.