New York Life Investment Management LLC Has $22.01 Million Position in Amgen Inc. (NASDAQ:AMGN)

New York Life Investment Management LLC lowered its stake in Amgen Inc. (NASDAQ:AMGN) by 1.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 76,416 shares of the medical research company’s stock after selling 798 shares during the period. New York Life Investment Management LLC’s holdings in Amgen were worth $22,009,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in Amgen by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 49,035,981 shares of the medical research company’s stock worth $13,178,910,000 after buying an additional 165,636 shares during the period. Northern Trust Corp increased its stake in Amgen by 3.8% during the 3rd quarter. Northern Trust Corp now owns 6,977,625 shares of the medical research company’s stock worth $1,875,306,000 after purchasing an additional 255,463 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Amgen by 1.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 5,437,182 shares of the medical research company’s stock worth $1,461,297,000 after buying an additional 61,528 shares during the period. 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 buying an additional 518,689 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Amgen by 15.9% during the third quarter. Invesco Ltd. now owns 3,356,359 shares of the medical research company’s stock worth $902,055,000 after acquiring an additional 459,340 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Performance

Shares of AMGN traded up $3.43 during trading hours on Wednesday, hitting $277.37. The company had a trading volume of 2,322,902 shares, compared to its average volume of 2,810,882. The firm has a market cap of $148.78 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 2.67 and a beta of 0.58. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 10.14. The business has a fifty day moving average of $274.76 and a 200-day moving average of $281.37. Amgen Inc. has a 12 month low of $211.71 and a 12 month high of $329.72.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share 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 analysts’ expectations of $8.13 billion. During the same period in the prior year, the firm earned $4.09 EPS. The business’s revenue was up 19.8% on a year-over-year basis. Equities analysts anticipate that Amgen Inc. will post 19.43 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be paid a $2.25 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $9.00 annualized dividend and a yield of 3.24%. Amgen’s dividend payout ratio (DPR) is presently 72.06%.

Analyst Ratings Changes

AMGN has been the subject of a number of research analyst reports. The Goldman Sachs Group upped 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 decreased their price objective on Amgen from $281.00 to $278.00 and set an “equal weight” rating for the company in a report on Wednesday, February 7th. Truist Financial reaffirmed a “buy” rating and set a $320.00 price target on shares of Amgen in a research report on Friday, April 12th. Raymond James initiated coverage on shares of Amgen in a report on Thursday, March 28th. They issued a “market perform” rating on the stock. Finally, SVB Leerink downgraded shares of Amgen from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $324.00 to $318.00 in a research report on Wednesday, February 7th. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Amgen presently has a consensus rating of “Moderate Buy” and a consensus target price of $297.40.

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.