Taylor Hoffman Capital Management LLC Has $319,000 Position in Amgen Inc. (NASDAQ:AMGN)

Taylor Hoffman Capital Management LLC cut its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 10.9% during the fourth quarter, Holdings Channel reports. The fund owned 1,222 shares of the medical research company’s stock after selling 150 shares during the quarter. Taylor Hoffman Capital Management LLC’s holdings in Amgen were worth $319,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Grassi Investment Management boosted its stake in Amgen by 4.5% in the 4th quarter. Grassi Investment Management now owns 4,600 shares of the medical research company’s stock valued at $1,199,000 after purchasing an additional 200 shares during the period. Tallon Kerry Patrick bought a new stake in Amgen in the 4th quarter valued at $270,000. Diversify Wealth Management LLC boosted its stake in Amgen by 46.5% in the 4th quarter. Diversify Wealth Management LLC now owns 6,809 shares of the medical research company’s stock valued at $1,786,000 after purchasing an additional 2,162 shares during the period. Harbor Investment Advisory LLC boosted its stake in Amgen by 2.9% in the 4th quarter. Harbor Investment Advisory LLC now owns 25,009 shares of the medical research company’s stock valued at $6,518,000 after purchasing an additional 697 shares during the period. Finally, Koshinski Asset Management Inc. boosted its stake in Amgen by 2.4% in the 4th quarter. Koshinski Asset Management Inc. now owns 11,100 shares of the medical research company’s stock valued at $2,893,000 after purchasing an additional 260 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $275.01 on Wednesday. The company has a market cap of $147.87 billion, a price-to-earnings ratio of 36.43, a PEG ratio of 2.63 and a beta of 0.51. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. The firm has a 50 day simple moving average of $289.51 and a 200 day simple moving average of $287.47. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.18 by $0.72. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The firm had revenue of $8.15 billion during the quarter, compared to analysts’ expectations of $8.05 billion. During the same period in the prior year, the company posted $3.96 EPS. The company’s revenue was up 9.4% on a year-over-year basis. Research analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be given a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.46%. The ex-dividend date is Friday, May 16th. Amgen’s dividend payout ratio (DPR) is currently 86.86%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AMGN. Piper Sandler reduced their price target on Amgen from $329.00 to $328.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. Morgan Stanley reiterated an “equal weight” rating on shares of Amgen in a research report on Friday, May 2nd. Wells Fargo & Company reiterated an “equal weight” rating on shares of Amgen in a research report on Wednesday, February 5th. UBS Group reiterated a “neutral” rating and set a $315.00 target price (down from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Finally, Erste Group Bank downgraded Amgen from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $309.22.

Insider Transactions at Amgen

In other news, EVP David M. Reese sold 25,225 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the completion of the sale, the executive vice president now directly owns 36,922 shares in the company, valued at $11,240,533.68. This represents a 40.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.76% of the stock is currently 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.