Amgen Inc. (NASDAQ:AMGN) Stock Holdings Lowered by Forza Wealth Management LLC

Forza Wealth Management LLC cut its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 0.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,834 shares of the medical research company’s stock after selling 50 shares during the period. Forza Wealth Management LLC’s holdings in Amgen were worth $1,659,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in AMGN. Briaud Financial Planning Inc acquired a new stake in Amgen during the 3rd quarter worth about $26,000. BOK Financial Private Wealth Inc. acquired a new stake in shares of Amgen during the fourth quarter valued at approximately $29,000. United Community Bank acquired a new stake in shares of Amgen during the fourth quarter valued at approximately $29,000. OFI Invest Asset Management purchased a new stake in shares of Amgen in the 3rd quarter valued at approximately $26,000. Finally, Planned Solutions Inc. acquired a new position in Amgen in the 4th quarter worth approximately $30,000. 76.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AMGN has been the topic of a number of research analyst reports. Morgan Stanley lowered their price target on Amgen from $281.00 to $278.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 7th. UBS Group decreased their target price on shares of Amgen from $314.00 to $284.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. TD Cowen dropped their price target on shares of Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. The Goldman Sachs Group lifted their price objective on Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Finally, SVB Leerink lowered Amgen from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $324.00 to $318.00 in a research report on Wednesday, February 7th. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $297.40.

Amgen Stock Performance

Amgen stock traded up $6.40 on Monday, reaching $276.38. 2,678,923 shares of the stock were exchanged, compared to its average volume of 2,820,901. 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 firm has a fifty day moving average price of $274.96 and a two-hundred day moving average price of $281.45. The stock has a market cap of $148.24 billion, a PE ratio of 22.13, a PEG ratio of 2.61 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data 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. The business had revenue of $8.20 billion during the quarter, compared to analysts’ expectations of $8.13 billion. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The firm’s revenue was up 19.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.09 EPS. Sell-side analysts anticipate that Amgen Inc. will post 19.43 EPS for the current year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be paid a $2.25 dividend. The ex-dividend date is Thursday, May 16th. This represents a $9.00 annualized dividend and a dividend yield of 3.26%. Amgen’s payout ratio is 72.06%.

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.