Amgen Inc. (NASDAQ:AMGN) Position Reduced by Boston Partners

Boston Partners lowered its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,261,613 shares of the medical research company's stock after selling 30,567 shares during the period. Boston Partners owned about 0.42% of Amgen worth $590,449,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Generali Asset Management SPA SGR acquired a new position in shares of Amgen in the fourth quarter valued at approximately $15,858,000. Horizon Investments LLC raised its position in shares of Amgen by 1.9% in the fourth quarter. Horizon Investments LLC now owns 14,820 shares of the medical research company's stock valued at $3,863,000 after buying an additional 281 shares during the last quarter. Thrivent Financial for Lutherans raised its position in shares of Amgen by 1.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 494,082 shares of the medical research company's stock valued at $129,129,000 after buying an additional 4,997 shares during the last quarter. Kensington Investment Counsel LLC raised its position in shares of Amgen by 4.5% in the fourth quarter. Kensington Investment Counsel LLC now owns 15,050 shares of the medical research company's stock valued at $3,923,000 after buying an additional 651 shares during the last quarter. Finally, Mystic Asset Management Inc. raised its position in shares of Amgen by 75.7% in the fourth quarter. Mystic Asset Management Inc. now owns 1,267 shares of the medical research company's stock valued at $330,000 after buying an additional 546 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

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Insider Activity

In other news, EVP Jonathan P. Graham sold 25,045 shares of the company's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $293.12, for a total value 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 approximately $8,496,669.44. This represents a 46.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of the 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 transaction, the senior vice president now owns 7,210 shares in the company, valued at $2,195,228.70. This trade represents a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 69,341 shares of company stock worth $20,644,335. 0.69% of the stock is currently owned by company insiders.

Amgen Trading Up 0.3 %

AMGN traded up $1.00 during trading on Friday, hitting $316.04. 9,994,350 shares of the company's stock were exchanged, compared to its average volume of 2,552,453. 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 Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The stock has a 50 day moving average price of $297.24 and a 200 day moving average price of $299.02. The firm has a market cap of $169.78 billion, a P/E ratio of 41.86, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its earnings results 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 net margin of 12.24% and a return on equity of 176.32%. As a group, analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be paid a $2.38 dividend. The ex-dividend date is Friday, May 16th. This represents a $9.52 annualized dividend and a dividend yield of 3.01%. Amgen's dividend payout ratio (DPR) is presently 126.09%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on AMGN shares. Piper Sandler boosted their price objective on shares of Amgen from $310.00 to $329.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. Leerink Partners cut their price objective on shares of Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Royal Bank of Canada reissued an "outperform" rating and issued a $324.00 price objective on shares of Amgen in a research report on Friday, January 24th. Johnson Rice set a $294.00 price target on shares of Amgen in a research report on Wednesday, March 5th. Finally, UBS Group reaffirmed a "hold" rating on shares of Amgen in a research report on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Amgen currently has an average rating of "Hold" and an average target price of $314.04.

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.