Brown Brothers Harriman & Co. Sells 2,197 Shares of Amgen Inc. (NASDAQ:AMGN)

Brown Brothers Harriman & Co. decreased its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 10.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,196 shares of the medical research company's stock after selling 2,197 shares during the quarter. Brown Brothers Harriman & Co.'s holdings in Amgen were worth $4,743,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Amgen during the fourth quarter valued at about $1,541,991,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Amgen by 25.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company's stock worth $3,441,909,000 after purchasing an additional 2,672,975 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Amgen during the fourth quarter valued at approximately $401,913,000. Van ECK Associates Corp raised its stake in shares of Amgen by 263.8% in the fourth quarter. Van ECK Associates Corp now owns 1,038,593 shares of the medical research company's stock valued at $270,699,000 after purchasing an additional 753,147 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in Amgen by 40.7% in the fourth quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company's stock worth $609,526,000 after purchasing an additional 676,598 shares during the period. Institutional investors and hedge funds own 76.50% of the company's stock.

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Wall Street Analysts Forecast Growth

AMGN has been the topic of several analyst reports. Piper Sandler boosted their price target on shares of Amgen from $310.00 to $329.00 and gave the company an "overweight" rating in a report on Monday, February 10th. Wells Fargo & Company reissued an "equal weight" rating on shares of Amgen in a research note on Wednesday, February 5th. Truist Financial cut their price target on shares of Amgen from $333.00 to $298.00 and set a "hold" rating for the company in a research note on Wednesday, January 8th. Johnson Rice set a $294.00 price objective on Amgen in a research note on Wednesday, March 5th. Finally, UBS Group restated a "hold" rating on shares of Amgen in a research report on Wednesday, February 12th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $314.04.

Insider Buying and Selling

In other news, EVP David M. Reese sold 25,225 shares of the firm's stock in a transaction on Friday, February 21st. The stock was 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 directly owns 36,922 shares in the company, valued at $11,240,533.68. This trade represents a 40.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of Amgen stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total value of $483,802.83. Following the sale, the senior vice president now directly owns 7,210 shares of the company's stock, valued at approximately $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. Insiders sold a total of 69,341 shares of company stock valued at $20,644,335 over the last ninety days. Insiders own 0.69% of the company's stock.

Amgen Trading Down 0.3 %

NASDAQ:AMGN traded down $0.89 during trading hours on Wednesday, hitting $306.03. 1,347,467 shares of the stock were exchanged, compared to its average volume of 2,704,997. The company has a market capitalization of $164.40 billion, a P/E ratio of 40.53, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The company's 50 day moving average is $302.51 and its two-hundred day moving average is $297.63. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) 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%. On average, sell-side analysts anticipate that Amgen Inc. will post 20.62 earnings per share 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 given a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Friday, May 16th. Amgen's dividend payout ratio is 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.