TCI Wealth Advisors Inc. Sells 155 Shares of Amgen Inc. (NASDAQ:AMGN)

TCI Wealth Advisors Inc. reduced its stake in Amgen Inc. (NASDAQ:AMGN) by 3.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,876 shares of the medical research company’s stock after selling 155 shares during the period. TCI Wealth Advisors Inc.’s holdings in Amgen were worth $1,116,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in AMGN. International Assets Investment Management LLC purchased a new stake in shares of Amgen in the 4th quarter worth approximately $4,589,900,000. Assenagon Asset Management S.A. increased its position in shares of Amgen by 486.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 899,232 shares of the medical research company’s stock worth $258,997,000 after purchasing an additional 745,929 shares in the last quarter. abrdn plc lifted its holdings in shares of Amgen by 150.4% during the 4th quarter. abrdn plc now owns 1,043,609 shares of the medical research company’s stock valued at $300,580,000 after purchasing an additional 626,810 shares during the last quarter. Los Angeles Capital Management LLC boosted its position in shares of 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 worth $284,869,000 after purchasing an additional 522,367 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in Amgen by 11.4% during the 3rd quarter. Royal Bank of Canada now owns 5,079,677 shares of the medical research company’s stock worth $1,365,213,000 after buying an additional 518,689 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AMGN has been the subject of a number of research analyst reports. Morgan Stanley increased their price target on Amgen from $271.00 to $310.00 and gave the company an “equal weight” rating in a research note on Friday. 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. Barclays upgraded Amgen from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $230.00 to $300.00 in a research note on Friday. Oppenheimer restated an “outperform” rating and issued a $350.00 price objective on shares of Amgen in a research note on Thursday, February 1st. Finally, Raymond James started coverage on Amgen in a research note on Thursday, March 28th. They issued a “market perform” rating for the company. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $305.05.

Amgen Price Performance

AMGN traded up $32.90 during trading on Friday, hitting $311.29. The company’s stock had a trading volume of 9,644,682 shares, compared to its average volume of 2,279,398. 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 twelve month low of $211.71 and a twelve month high of $329.72. The business’s fifty day simple moving average is $274.95 and its 200 day simple moving average is $281.46. The firm has a market capitalization of $166.97 billion, a price-to-earnings ratio of 44.47, a P/E/G ratio of 3.01 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last announced its earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.76 by $0.20. The company had revenue of $7.45 billion for the quarter, compared to analysts’ expectations of $7.45 billion. Amgen had a net margin of 12.74% and a return on equity of 145.62%. The firm’s quarterly revenue was up 22.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.98 EPS. On average, equities research analysts forecast that Amgen Inc. will post 19.46 EPS for the current fiscal year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors 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 2.89%. Amgen’s payout ratio is 128.57%.

Insiders Place Their Bets

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

Amgen 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.