MJP Associates Inc. ADV Has $477,000 Stock Position in Amgen Inc. (NASDAQ:AMGN)

MJP Associates Inc. ADV cut its position in shares of Amgen Inc. (NASDAQ:AMGN) by 23.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,655 shares of the medical research company’s stock after selling 503 shares during the period. MJP Associates Inc. ADV’s holdings in Amgen were worth $477,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. OFI Invest Asset Management purchased a new position in shares of Amgen during the 3rd quarter valued at $26,000. Briaud Financial Planning Inc acquired a new stake in shares of Amgen in the third quarter worth about $26,000. VisionPoint Advisory Group LLC bought a new stake in Amgen during the second quarter worth approximately $28,000. Strategic Investment Solutions Inc. IL acquired a new position in Amgen in the 1st quarter valued at $28,000. Finally, Providence Capital Advisors LLC acquired a new stake in shares of Amgen in the third quarter valued at about $30,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on AMGN. StockNews.com downgraded shares of Amgen from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. The Goldman Sachs Group increased their price target on Amgen from $313.00 to $350.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Morgan Stanley lowered their price objective on shares of Amgen from $281.00 to $278.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 7th. Leerink Partnrs lowered Amgen from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 7th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $320.00 target price on shares of Amgen in a research note on Wednesday, November 29th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $295.30.

Amgen Price Performance

Shares of NASDAQ:AMGN traded up $4.53 during midday trading on Wednesday, hitting $286.30. The stock had a trading volume of 2,255,872 shares, compared to its average volume of 3,053,429. The company’s 50-day moving average price is $290.44 and its 200-day moving average price is $280.66. Amgen Inc. has a fifty-two week low of $211.71 and a fifty-two week high of $329.72. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 10.14. The company has a market capitalization of $153.43 billion, a P/E ratio of 22.94, a price-to-earnings-growth ratio of 2.63 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.66 by $0.05. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The firm had revenue of $8.20 billion during the quarter, compared to analysts’ expectations of $8.13 billion. During the same period in the prior year, the company earned $4.09 earnings per share. The company’s quarterly revenue was up 19.8% on a year-over-year basis. As a group, equities research analysts predict that Amgen Inc. will post 19.48 EPS for the current fiscal year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be issued a $2.25 dividend. 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 3.14%. Amgen’s dividend payout ratio (DPR) is currently 72.06%.

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.