Parsons Capital Management Inc. RI Has $5.61 Million Holdings in Amgen Inc. (NASDAQ:AMGN)

Parsons Capital Management Inc. RI decreased its stake in Amgen Inc. (NASDAQ:AMGN) by 0.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,538 shares of the medical research company’s stock after selling 112 shares during the period. Parsons Capital Management Inc. RI’s holdings in Amgen were worth $5,614,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in Amgen in the 3rd quarter worth $25,000. Legacy Investment Solutions LLC bought a new stake in shares of Amgen during the third quarter valued at approximately $29,000. Hershey Financial Advisers LLC acquired a new position in shares of Amgen in the second quarter valued at $30,000. Matrix Trust Co bought a new position in Amgen in the third quarter worth $36,000. Finally, Livelsberger Financial Advisory acquired a new stake in Amgen during the third quarter worth $56,000. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Down 0.9 %

Shares of NASDAQ AMGN opened at $275.42 on Monday. The firm has a 50 day moving average price of $271.39 and a 200 day moving average price of $305.81. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The stock has a market cap of $148.05 billion, a P/E ratio of 35.27, a P/E/G ratio of 2.78 and a beta of 0.56. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. During the same quarter last year, the business posted $4.96 EPS. The firm’s revenue was up 23.2% compared to the same quarter last year. Analysts expect that Amgen Inc. will post 19.56 EPS for the current year.

Amgen Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors 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 3.46%. This is a boost from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. Amgen’s dividend payout ratio is presently 115.24%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on AMGN shares. Piper Sandler decreased their target price on shares of Amgen from $344.00 to $310.00 and set an “overweight” rating on the stock in a research report on Thursday, January 2nd. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 price objective on shares of Amgen in a report on Tuesday, November 12th. Citigroup dropped their target price on Amgen from $335.00 to $310.00 in a report on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft decreased their price target on Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Finally, TD Cowen increased their target price on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $314.65.

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.