Eudaimonia Partners LLC Sells 112 Shares of Amgen Inc. (NASDAQ:AMGN)

Posted by on Apr 3rd, 2023

Eudaimonia Partners LLC reduced its position in shares of Amgen Inc. (NASDAQ:AMGN – Get Rating) by 8.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,158 shares of the medical research company’s stock after selling 112 shares during the quarter. Eudaimonia Partners LLC’s holdings in Amgen were worth $304,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMGN. EdgeRock Capital LLC bought a new position in shares of Amgen during the 3rd quarter valued at approximately $25,000. Leelyn Smith LLC boosted its position in shares of Amgen by 80.3% during the 3rd quarter. Leelyn Smith LLC now owns 110 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 49 shares during the last quarter. Capital Wealth Alliance LLC bought a new stake in Amgen in the second quarter worth $26,000. Glassy Mountain Advisors Inc. bought a new stake in Amgen in the fourth quarter worth $26,000. Finally, Coston McIsaac & Partners bought a new stake in Amgen in the second quarter worth $27,000. 75.53% of the stock is currently owned by institutional investors.

Amgen Stock Performance

Shares of Amgen stock opened at $241.75 on Monday. The firm has a market cap of $129.09 billion, a P/E ratio of 19.96, a P/E/G ratio of 1.95 and a beta of 0.65. The company has a current ratio of 1.41, a quick ratio of 1.10 and a debt-to-equity ratio of 10.20. Amgen Inc. has a 12 month low of $223.30 and a 12 month high of $296.67. The stock’s fifty day moving average price is $239.46 and its 200-day moving average price is $254.67.

Amgen (NASDAQ:AMGN – Get Rating) last announced its quarterly earnings results on Tuesday, February 7th. The medical research company reported $4.09 EPS for the quarter, beating the consensus estimate of $4.04 by $0.05. The firm had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.77 billion. Amgen had a return on equity of 359.47% and a net margin of 24.89%. The business’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter last year, the firm posted $4.36 earnings per share. On average, equities research analysts expect that Amgen Inc. will post 17.73 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 8th. Shareholders of record on Thursday, May 18th will be paid a $2.13 dividend. The ex-dividend date of this dividend is Wednesday, May 17th. This represents a $8.52 annualized dividend and a yield of 3.52%. Amgen’s dividend payout ratio (DPR) is presently 70.36%.

Analyst Upgrades and Downgrades

AMGN has been the subject of a number of analyst reports. SVB Leerink lowered their price target on Amgen from $282.00 to $267.00 and set a “market perform” rating for the company in a research report on Thursday, February 2nd. Royal Bank of Canada lowered their price target on Amgen from $268.00 to $258.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 1st. Credit Suisse Group lowered their price target on Amgen from $240.00 to $220.00 and set an “underperform” rating for the company in a research report on Wednesday, February 1st. Piper Sandler lowered their price target on Amgen from $299.00 to $293.00 and set an “overweight” rating for the company in a research report on Thursday, January 19th. Finally, StockNews.com started coverage on Amgen in a research note on Thursday, March 16th. They issued a “strong-buy” rating on the stock. Four analysts have rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Amgen has an average rating of “Hold” and an average target price of $251.44.

About Amgen

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Amgen, Inc is a biotechnology company, which engages in the discovery, development, manufacture, and marketing of human therapeutics. It operates through Human Therapeutics segment. The company was founded by William K. Bowes, Jr., Franklin Pitcher Johnson, Jr., George B. Rathmann, and Joseph Rubinfeld on April 8, 1980 and is headquartered in Thousand Oaks, CA.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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