Advisors Asset Management Inc. Has $28.79 Million Stake in Amgen Inc. (NASDAQ:AMGN)

Advisors Asset Management Inc. reduced its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 110,446 shares of the medical research company's stock after selling 1,046 shares during the quarter. Amgen accounts for 0.5% of Advisors Asset Management Inc.'s investment portfolio, making the stock its 20th biggest holding. Advisors Asset Management Inc.'s holdings in Amgen were worth $28,787,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp boosted its position in Amgen by 1.2% during the third quarter. State Street Corp now owns 29,317,018 shares of the medical research company's stock worth $9,446,236,000 after purchasing an additional 345,537 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Amgen by 25.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company's stock valued at $3,441,909,000 after purchasing an additional 2,672,975 shares during the last quarter. Geode Capital Management LLC increased its stake in Amgen by 0.9% during the third quarter. Geode Capital Management LLC now owns 12,122,889 shares of the medical research company's stock worth $3,893,771,000 after acquiring an additional 103,851 shares during the last quarter. Janus Henderson Group PLC increased its stake in Amgen by 11.7% during the third quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company's stock worth $1,657,183,000 after acquiring an additional 538,545 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Amgen by 6.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,442,543 shares of the medical research company's stock worth $1,431,432,000 after buying an additional 264,396 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

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Amgen Price Performance

Shares of NASDAQ AMGN traded up $1.00 during trading hours on Friday, hitting $316.04. 9,994,350 shares of the stock were exchanged, compared to its average volume of 2,552,453. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. The company 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 company's fifty day simple moving average is $297.24 and its two-hundred day simple moving average is $299.02. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85.

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

Amgen Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on AMGN shares. Deutsche Bank Aktiengesellschaft reduced their price target on Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. Truist Financial dropped their price target on Amgen from $333.00 to $298.00 and set a "hold" rating on the stock in a research report on Wednesday, January 8th. Wells Fargo & Company restated an "equal weight" rating on shares of Amgen in a research report on Wednesday, February 5th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $324.00 price target on shares of Amgen in a research note on Friday, January 24th. Finally, Piper Sandler raised their price objective on Amgen from $310.00 to $329.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $314.04.

Insiders Place Their Bets

In other news, EVP David M. Reese sold 25,225 shares of the business's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the sale, the executive vice president now directly owns 36,922 shares in the company, valued at approximately $11,240,533.68. The trade was a 40.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Jonathan P. Graham sold 25,045 shares of the business's stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $293.12, for a total value of $7,341,190.40. Following the sale, the executive vice president now owns 28,987 shares in the company, valued at approximately $8,496,669.44. This trade represents a 46.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,341 shares of company stock valued at $20,644,335 in the last 90 days. Corporate insiders own 0.69% of the company's stock.

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.