Intech Investment Management LLC Decreases Stake in Amgen Inc. (NASDAQ:AMGN)

Intech Investment Management LLC lowered its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 8.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 60,588 shares of the medical research company's stock after selling 5,312 shares during the period. Intech Investment Management LLC's holdings in Amgen were worth $15,792,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Centricity Wealth Management LLC purchased a new stake in Amgen in the fourth quarter valued at approximately $25,000. Legacy Investment Solutions LLC purchased a new stake in Amgen in the third quarter valued at approximately $29,000. Synergy Investment Management LLC purchased a new stake in Amgen in the 4th quarter worth approximately $34,000. Atala Financial Inc purchased a new stake in Amgen in the 4th quarter worth approximately $34,000. Finally, Heck Capital Advisors LLC purchased a new stake in Amgen in the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 76.50% of the company's stock.

Insider Transactions at Amgen

In related news, EVP Jonathan P. Graham sold 25,045 shares of the firm's stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $293.12, for a total transaction of $7,341,190.40. Following the completion of the transaction, the executive vice president now directly owns 28,987 shares in the company, valued at $8,496,669.44. This trade represents a 46.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP David M. Reese sold 25,225 shares of the firm's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $304.44, for a total value of $7,679,499.00. Following the transaction, the executive vice president now owns 36,922 shares of the company's stock, valued at $11,240,533.68. This trade represents a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,341 shares of company stock worth $20,644,335. 0.69% of the stock is currently owned by company insiders.

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Wall Street Analyst Weigh In

AMGN has been the topic of several recent research reports. Redburn Partners lowered their price objective on Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Johnson Rice set a $294.00 target price on Amgen in a research report on Wednesday, March 5th. Piper Sandler Companies reiterated an "overweight" rating and set a $310.00 target price on shares of Amgen in a research report on Thursday, January 2nd. UBS Group reiterated a "hold" rating on shares of Amgen in a research report on Wednesday, February 12th. Finally, StockNews.com lowered Amgen from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $314.04.

Amgen Trading Up 0.3 %

Shares of AMGN traded up $1.00 during midday trading on Friday, reaching $316.04. The company had a trading volume of 9,994,350 shares, compared to its average volume of 2,552,453. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The stock has a market cap of $169.78 billion, a PE ratio of 41.86, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53. The firm has a 50 day simple moving average of $297.24 and a 200-day simple moving average of $299.02. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, topping analysts' consensus estimates of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. Research analysts forecast that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be issued a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date is Friday, May 16th. Amgen's dividend payout ratio is presently 126.09%.

Amgen 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.