GLOBALT Investments LLC GA Cuts Position in Amgen Inc. (NASDAQ:AMGN)

GLOBALT Investments LLC GA lessened its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 4.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,193 shares of the medical research company's stock after selling 898 shares during the quarter. GLOBALT Investments LLC GA's holdings in Amgen were worth $5,524,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AMGN. Robinson Smith Wealth Advisors LLC grew its position in shares of Amgen by 8.8% in the fourth quarter. Robinson Smith Wealth Advisors LLC now owns 805 shares of the medical research company's stock valued at $210,000 after purchasing an additional 65 shares during the period. Signature Wealth Management Group grew its position in shares of Amgen by 126.2% in the fourth quarter. Signature Wealth Management Group now owns 1,796 shares of the medical research company's stock valued at $468,000 after purchasing an additional 1,002 shares during the period. First National Advisers LLC grew its position in shares of Amgen by 1.6% in the fourth quarter. First National Advisers LLC now owns 18,333 shares of the medical research company's stock valued at $4,778,000 after purchasing an additional 288 shares during the period. GWN Securities Inc. acquired a new stake in shares of Amgen in the fourth quarter valued at about $659,000. Finally, Gallacher Capital Management LLC grew its position in shares of Amgen by 12.4% in the fourth quarter. Gallacher Capital Management LLC now owns 1,115 shares of the medical research company's stock valued at $291,000 after purchasing an additional 123 shares during the period. Institutional investors and hedge funds own 76.50% of the company's stock.

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Amgen Stock Performance

AMGN stock traded down $0.71 on Thursday, hitting $315.04. The company's stock had a trading volume of 2,049,701 shares, compared to its average volume of 2,523,383. The firm has a 50 day moving average of $295.15 and a two-hundred day moving average of $299.03. 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 $169.24 billion, a price-to-earnings ratio of 41.73, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53. The company has a current ratio of 1.26, a quick ratio of 0.95 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 EPS for the quarter, beating 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%. Equities analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be given a dividend of $2.38 per share. The ex-dividend date is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a yield of 3.02%. Amgen's payout ratio is currently 126.09%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Johnson Rice set a $294.00 target price on shares of Amgen in a research report on Wednesday, March 5th. StockNews.com lowered shares of Amgen from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, December 18th. Citigroup restated a "neutral" rating on shares of Amgen in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Finally, Piper Sandler boosted their price target on shares of Amgen from $310.00 to $329.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Amgen has an average rating of "Hold" and a consensus price target of $314.04.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,589 shares of the company's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total transaction of $483,802.83. Following the completion of the transaction, the senior vice president now owns 7,210 shares in the company, valued at approximately $2,195,228.70. This represents a 18.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jonathan P. Graham sold 25,045 shares of the company's 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 transaction, the executive vice president now owns 28,987 shares of the company's stock, valued at approximately $8,496,669.44. The trade was a 46.35 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,341 shares of company stock worth $20,644,335. 0.69% of the stock is owned by insiders.

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.