Harvest Fund Management Co. Ltd Sells 1,751 Shares of Amgen Inc. (NASDAQ:AMGN)

Harvest Fund Management Co. Ltd decreased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 21.7% in the 4th quarter, Holdings Channel reports. The fund owned 6,328 shares of the medical research company’s stock after selling 1,751 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Amgen were worth $1,804,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. International Assets Investment Management LLC acquired a new position in Amgen during the fourth quarter worth $4,589,900,000. Assenagon Asset Management S.A. lifted its stake in Amgen by 486.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 899,232 shares of the medical research company’s stock valued at $258,997,000 after acquiring an additional 745,929 shares during the last quarter. abrdn plc lifted its stake in Amgen by 150.4% in the fourth quarter. abrdn plc now owns 1,043,609 shares of the medical research company’s stock valued at $300,580,000 after acquiring an additional 626,810 shares during the last quarter. Royal Bank of Canada lifted its stake in Amgen by 11.4% in the third quarter. Royal Bank of Canada now owns 5,079,677 shares of the medical research company’s stock valued at $1,365,213,000 after acquiring an additional 518,689 shares during the last quarter. Finally, California Public Employees Retirement System lifted its stake in Amgen by 22.0% in the fourth quarter. California Public Employees Retirement System now owns 2,716,088 shares of the medical research company’s stock valued at $782,288,000 after acquiring an additional 490,539 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

NASDAQ:AMGN traded up $1.63 during mid-day trading on Tuesday, reaching $273.54. 2,493,074 shares of the company’s stock were exchanged, compared to its average volume of 2,845,341. The company has a debt-to-equity ratio of 10.14, a quick ratio of 1.13 and a current ratio of 1.65. Amgen Inc. has a one year low of $211.71 and a one year high of $329.72. The firm has a market capitalization of $146.72 billion, a PE ratio of 21.90, a price-to-earnings-growth ratio of 2.50 and a beta of 0.58. The business’s fifty day simple moving average is $276.11 and its two-hundred day simple moving average is $281.61.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.66 by $0.05. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The firm had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.13 billion. During the same period last year, the firm earned $4.09 EPS. The business’s quarterly revenue was up 19.8% compared to the same quarter last year. Analysts anticipate that Amgen Inc. will post 19.45 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 3.29%. The ex-dividend date is Thursday, May 16th. Amgen’s dividend payout ratio is currently 72.06%.

Analyst Ratings Changes

A number of brokerages have commented on AMGN. Raymond James began coverage on shares of Amgen in a research note on Thursday, March 28th. They issued a “market perform” rating for the company. Truist Financial reiterated a “buy” rating and issued a $320.00 price target on shares of Amgen in a research note on Friday, April 12th. The Goldman Sachs Group raised 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. Morgan Stanley cut their target price on shares of Amgen from $281.00 to $278.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 7th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $329.00 target price on shares of Amgen in a research note on Wednesday, April 3rd. 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 data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $296.95.

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.