ARK Investment Management LLC lessened its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 13.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 66,374 shares of the medical research company's stock after selling 10,240 shares during the period. ARK Investment Management LLC's holdings in Amgen were worth $17,300,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in AMGN. AMF Tjanstepension AB lifted its stake in shares of Amgen by 16.9% in the 3rd quarter. AMF Tjanstepension AB now owns 120,389 shares of the medical research company's stock valued at $38,825,000 after purchasing an additional 17,387 shares during the period. Swedbank AB lifted its stake in shares of Amgen by 1.1% in the 3rd quarter. Swedbank AB now owns 538,899 shares of the medical research company's stock valued at $173,639,000 after purchasing an additional 5,751 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Amgen by 0.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 169,843 shares of the medical research company's stock valued at $54,725,000 after purchasing an additional 1,037 shares during the period. Autumn Glory Partners LLC lifted its stake in shares of Amgen by 23.5% in the 3rd quarter. Autumn Glory Partners LLC now owns 798 shares of the medical research company's stock valued at $268,000 after purchasing an additional 152 shares during the period. Finally, Orrstown Financial Services Inc. lifted its stake in shares of Amgen by 96.3% in the 3rd quarter. Orrstown Financial Services Inc. now owns 3,019 shares of the medical research company's stock valued at $973,000 after purchasing an additional 1,481 shares during the period. Institutional investors own 76.50% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft dropped their price objective on Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Leerink Partners dropped their price target on Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. StockNews.com downgraded Amgen from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, December 18th. Wolfe Research started coverage on Amgen in a research note on Friday, November 15th. They set a "peer perform" rating on the stock. Finally, Piper Sandler upped their price target on Amgen from $310.00 to $329.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $314.09.
Check Out Our Latest Stock Report on AMGN
Insider Buying and Selling at Amgen
In other Amgen news, EVP Jonathan P. Graham sold 25,045 shares of the stock in a transaction on 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 sale, the executive vice president now owns 28,987 shares in the company, valued at $8,496,669.44. This represents a 46.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Murdo Gordon sold 8,771 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $294.79, for a total value of $2,585,603.09. Following the sale, the executive vice president now owns 44,186 shares in the company, valued at approximately $13,025,590.94. This represents a 16.56 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 69,341 shares of company stock valued at $20,644,335. Company insiders own 0.69% of the company's stock.
Amgen Stock Performance
Shares of AMGN stock traded up $2.24 during trading on Friday, hitting $308.06. The company's stock had a trading volume of 3,172,971 shares, compared to its average volume of 2,545,669. The company has a market cap of $165.49 billion, a PE ratio of 40.80, a P/E/G ratio of 2.63 and a beta of 0.56. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The business has a fifty day moving average of $280.87 and a 200-day moving average of $300.16. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85.
Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, beating the consensus estimate of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. As a group, research analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.
Amgen Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be issued a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.09%. This is a positive change from Amgen's previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. Amgen's dividend payout ratio is 126.09%.
Amgen Profile
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Free Report)
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.
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