Burkett Financial Services LLC Sells 162 Shares of Amgen Inc. (NASDAQ:AMGN)

Burkett Financial Services LLC cut its position in Amgen Inc. (NASDAQ:AMGN) by 7.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,993 shares of the medical research company’s stock after selling 162 shares during the quarter. Burkett Financial Services LLC’s holdings in Amgen were worth $520,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in shares of Amgen during the 3rd quarter valued at $25,000. Strategic Financial Concepts LLC acquired a new position in shares of Amgen during the 2nd quarter worth $26,000. Legacy Investment Solutions LLC acquired a new position in shares of Amgen during the 3rd quarter worth $29,000. Hershey Financial Advisers LLC acquired a new position in shares of Amgen during the 2nd quarter worth $30,000. Finally, Matrix Trust Co acquired a new position in shares of Amgen during the 3rd quarter worth $36,000. 76.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AMGN has been the subject of a number of recent research reports. UBS Group lowered their target price on Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $405.00 target price on shares of Amgen in a report on Tuesday, October 22nd. TD Cowen increased their price target on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Royal Bank of Canada decreased their price target on Amgen from $360.00 to $330.00 and set an “outperform” rating for the company in a research note on Wednesday, November 27th. Finally, Piper Sandler decreased their price target on Amgen from $344.00 to $310.00 and set an “overweight” rating for the company in a research note on Thursday. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Amgen has an average rating of “Hold” and an average price target of $318.83.

Amgen Price Performance

AMGN stock traded down $1.14 during trading on Monday, reaching $260.08. The company’s stock had a trading volume of 1,040,578 shares, compared to its average volume of 2,099,554. The company’s fifty day moving average is $284.63 and its 200-day moving average is $310.47. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The company has a market capitalization of $139.80 billion, a P/E ratio of 33.30, a price-to-earnings-growth ratio of 2.91 and a beta of 0.56. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating the consensus estimate of $5.11 by $0.47. The business had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business’s revenue was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.96 EPS. On average, research analysts expect that Amgen Inc. will post 19.53 earnings per share for the current fiscal year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be issued a $2.38 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.66%. Amgen’s dividend payout ratio (DPR) is currently 121.90%.

Amgen Company 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.