CANADA LIFE ASSURANCE Co cut its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 19.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,319 shares of the medical research company's stock after selling 10,291 shares during the period. CANADA LIFE ASSURANCE Co's holdings in Amgen were worth $10,765,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the business. Talbot Financial LLC grew its holdings in Amgen by 5.6% in the fourth quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company's stock valued at $11,153,000 after purchasing an additional 2,274 shares during the period. Asset Advisors Investment Management LLC increased its stake in Amgen by 9.0% during the third quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company's stock valued at $11,578,000 after purchasing an additional 2,954 shares during the last quarter. Ascent Wealth Partners LLC boosted its position in Amgen by 0.7% during the 4th quarter. Ascent Wealth Partners LLC now owns 9,024 shares of the medical research company's stock valued at $2,352,000 after purchasing an additional 64 shares during the period. Principal Financial Group Inc. increased its stake in shares of Amgen by 6.0% in the third quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company's stock valued at $204,659,000 after purchasing an additional 35,785 shares during the period. Finally, ICICI Prudential Asset Management Co Ltd raised its stake in shares of Amgen by 242.2% during the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 23,999 shares of the medical research company's stock valued at $6,255,000 after purchasing an additional 16,985 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on AMGN shares. Royal Bank of Canada restated an "outperform" rating and set 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 Amgen in a research note on Wednesday, March 5th. Piper Sandler Companies restated an "overweight" rating and set a $310.00 target price on shares of Amgen in a research report on Thursday, January 2nd. UBS Group raised their target price on Amgen from $315.00 to $319.00 and gave the company a "neutral" rating in a research note on Monday, April 14th. Finally, Bank of America raised their target price on shares of Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a research note on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Amgen currently has an average rating of "Hold" and a consensus target price of $310.57.
View Our Latest Stock Analysis on AMGN
Amgen Stock Up 0.4 %
Shares of NASDAQ AMGN traded up $1.00 during mid-day trading on Friday, reaching $280.84. 1,994,531 shares of the company's stock were exchanged, compared to its average volume of 2,786,219. The business has a fifty day simple moving average of $301.75 and a 200 day simple moving average of $293.08. The firm has a market capitalization of $150.99 billion, a price-to-earnings ratio of 37.20, a PEG ratio of 2.63 and a beta of 0.59. 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 twelve month low of $253.30 and a twelve month high of $346.85.
Amgen (NASDAQ:AMGN - Get Free Report) last announced its earnings results on Tuesday, February 4th. The medical research company reported $5.31 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%. As a group, equities analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.
Amgen Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be paid a $2.38 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 annualized dividend and a yield of 3.39%. Amgen's dividend payout ratio is currently 126.09%.
Insider Buying and Selling at Amgen
In other Amgen news, EVP Jonathan P. Graham sold 25,045 shares of Amgen stock in a transaction on 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 completion of the sale, the executive vice president now owns 28,987 shares of the company's stock, valued at approximately $8,496,669.44. This trade represents a 46.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of the company's 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 completion of the sale, the senior vice president now owns 7,210 shares of the company's stock, 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. Insiders sold a total of 69,341 shares of company stock valued at $20,644,335 in the last three months. Company insiders own 0.69% of the company's stock.
Amgen Company 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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