Geneos Wealth Management Inc. Has $573,000 Stake in Amgen Inc. (NASDAQ:AMGN)

Geneos Wealth Management Inc. reduced its position in shares of Amgen Inc. (NASDAQ:AMGN) by 18.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,988 shares of the medical research company’s stock after selling 448 shares during the period. Geneos Wealth Management Inc.’s holdings in Amgen were worth $573,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in AMGN. OFI Invest Asset Management acquired a new position in Amgen during the third quarter valued at approximately $26,000. Briaud Financial Planning Inc bought a new stake in shares of Amgen during the third quarter worth $26,000. VisionPoint Advisory Group LLC bought a new stake in shares of Amgen during the second quarter worth $28,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Amgen during the first quarter worth $28,000. Finally, Providence Capital Advisors LLC bought a new stake in shares of Amgen during the third quarter worth $30,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AMGN. Truist Financial reaffirmed a “buy” rating and set a $320.00 target price on shares of Amgen in a research note on Friday. The Goldman Sachs Group boosted their target price on shares of Amgen from $313.00 to $350.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Daiwa Capital Markets raised shares of Amgen from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $264.00 to $320.00 in a research note on Thursday, December 21st. Oppenheimer reissued an “outperform” rating and issued a $350.00 price objective on shares of Amgen in a research note on Thursday, February 1st. Finally, SVB Leerink cut shares of Amgen from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $324.00 to $318.00 in a research note on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $295.30.

Amgen Trading Down 1.0 %

NASDAQ:AMGN opened at $267.28 on Friday. The company’s 50-day simple moving average is $280.76 and its 200 day simple moving average is $281.38. The firm has a market capitalization of $143.24 billion, a P/E ratio of 21.40, a PEG ratio of 2.52 and a beta of 0.58. Amgen Inc. has a one year low of $211.71 and a one year high of $329.72. The company has a debt-to-equity ratio of 10.14, a current ratio of 1.65 and a quick ratio of 1.13.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.66 by $0.05. The company had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.13 billion. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The firm’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.09 earnings per share. As a group, analysts forecast that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Announces Dividend

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 3.37%. Amgen’s dividend payout ratio (DPR) is 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.