Cohen Klingenstein LLC Sells 1,750 Shares of Amgen Inc. (NASDAQ:AMGN)

Cohen Klingenstein LLC trimmed its holdings in Amgen Inc. (NASDAQ:AMGN) by 5.3% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 31,270 shares of the medical research company’s stock after selling 1,750 shares during the quarter. Cohen Klingenstein LLC’s holdings in Amgen were worth $8,150,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AMGN. Capital Performance Advisors LLP bought a new position in Amgen in the 3rd quarter worth $25,000. Legacy Investment Solutions LLC bought a new position in Amgen during the third quarter valued at $29,000. Hershey Financial Advisers LLC bought a new stake in Amgen in the second quarter worth about $30,000. Matrix Trust Co purchased a new stake in shares of Amgen in the third quarter worth approximately $36,000. Finally, Livelsberger Financial Advisory purchased a new position in Amgen during the 3rd quarter valued at $56,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

NASDAQ:AMGN opened at $272.11 on Friday. The company’s 50-day moving average is $275.01 and its two-hundred day moving average is $307.49. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The firm has a market cap of $146.27 billion, a price-to-earnings ratio of 34.84, a price-to-earnings-growth ratio of 2.68 and a beta of 0.56. The company has a current ratio of 1.32, a quick ratio of 0.96 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.11 by $0.47. The company had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.96 earnings per share. Research analysts expect that Amgen Inc. will post 19.57 EPS for the current year.

Amgen Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be paid a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date is Friday, February 14th. This is a positive change from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio (DPR) is 115.24%.

Analyst Ratings Changes

Several research analysts recently issued reports on AMGN shares. Truist Financial dropped their price objective on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. TD Cowen raised their target price on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 21st. StockNews.com cut shares of Amgen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. Finally, Redburn Partners dropped their price objective on Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $314.91.

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.