Signet Financial Management LLC Sells 175 Shares of Amgen Inc. (NASDAQ:AMGN)

Signet Financial Management LLC trimmed its stake in Amgen Inc. (NASDAQ:AMGN) by 2.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,413 shares of the medical research company’s stock after selling 175 shares during the period. Signet Financial Management LLC’s holdings in Amgen were worth $2,135,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in AMGN. OFI Invest Asset Management purchased a new position in shares of Amgen during the third quarter worth $26,000. Briaud Financial Planning Inc acquired a new stake in shares of Amgen during the third quarter worth about $26,000. Strategic Investment Solutions Inc. IL acquired a new position in Amgen in the 1st quarter valued at about $28,000. BOK Financial Private Wealth Inc. purchased a new stake in Amgen in the 4th quarter valued at approximately $29,000. Finally, Providence Capital Advisors LLC purchased a new stake in Amgen in the 3rd quarter valued at approximately $30,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Price Performance

NASDAQ AMGN traded down $0.25 during mid-day trading on Tuesday, hitting $265.26. The stock had a trading volume of 1,078,045 shares, compared to its average volume of 2,857,906. 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 company has a 50 day simple moving average of $279.63 and a 200 day simple moving average of $281.52. The company has a market cap of $142.16 billion, a price-to-earnings ratio of 21.26, a P/E/G ratio of 2.53 and a beta of 0.58. Amgen Inc. has a 52-week low of $211.71 and a 52-week high of $329.72.

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. The firm had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.13 billion. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The business’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.09 earnings per share. Equities analysts forecast that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend payout ratio (DPR) is presently 72.06%.

Analysts Set New Price Targets

AMGN has been the subject of a number of research reports. The Goldman Sachs Group lifted their price target on Amgen from $313.00 to $350.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. UBS Group cut their price target on Amgen from $315.00 to $314.00 and set a “neutral” rating on the stock in a report on Monday, January 29th. Leerink Partnrs lowered shares of Amgen from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 7th. Truist Financial restated a “buy” rating and set a $320.00 price target on shares of Amgen in a report on Friday. Finally, Oppenheimer restated an “outperform” rating and set a $350.00 price target on shares of Amgen in a report on Thursday, February 1st. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $295.30.

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.