Amgen Inc. (NASDAQ:AMGN) Shares Sold by Coho Partners Ltd.

Coho Partners Ltd. decreased its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 26.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 259,428 shares of the medical research company's stock after selling 91,817 shares during the quarter. Amgen comprises about 3.1% of Coho Partners Ltd.'s investment portfolio, making the stock its 18th largest position. Coho Partners Ltd.'s holdings in Amgen were worth $67,617,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. Capital Performance Advisors LLP purchased a new stake in shares of Amgen during the 3rd quarter valued at about $25,000. Legacy Investment Solutions LLC purchased a new stake in Amgen during the third quarter valued at approximately $29,000. Heck Capital Advisors LLC bought a new stake in shares of Amgen in the 4th quarter valued at approximately $36,000. Livelsberger Financial Advisory purchased a new position in shares of Amgen in the 3rd quarter worth approximately $56,000. Finally, Kennebec Savings Bank bought a new position in shares of Amgen during the 3rd quarter valued at approximately $57,000. Institutional investors own 76.50% of the company's stock.

Amgen Stock Performance

Shares of AMGN traded up $1.64 during trading hours on Tuesday, reaching $292.80. 2,161,695 shares of the company traded hands, compared to its average volume of 3,156,590. The company has a quick ratio of 0.96, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The business has a fifty day moving average price of $274.39 and a 200-day moving average price of $301.10. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The stock has a market capitalization of $157.39 billion, a P/E ratio of 38.78, a P/E/G ratio of 3.01 and a beta of 0.56.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, topping analysts' consensus estimates of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. Equities analysts anticipate that Amgen Inc. will post 20.59 EPS for the current fiscal year.

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be issued a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.25%. The ex-dividend date is Friday, February 14th. This is an increase from Amgen's previous quarterly dividend of $2.25. Amgen's dividend payout ratio is 119.21%.

Wall Street Analysts Forecast Growth

AMGN has been the subject of several recent analyst reports. Piper Sandler Companies reaffirmed an "overweight" rating and set a $310.00 price objective on shares of Amgen in a research note on Thursday, January 2nd. UBS Group dropped their price target on shares of Amgen from $335.00 to $326.00 and set a "neutral" rating for the company in a research note on Thursday, October 31st. William Blair reissued an "outperform" rating on shares of Amgen in a research report on Tuesday, November 12th. Redburn Partners decreased their price objective on shares of Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Finally, Truist Financial cut their target price on Amgen from $333.00 to $298.00 and set a "hold" rating on the stock in a research note on Wednesday, January 8th. 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 given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $314.09.

Insiders Place Their Bets

In other news, EVP Murdo Gordon sold 8,771 shares of the stock in a transaction on Tuesday, February 11th. The shares were 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 $13,025,590.94. This represents a 16.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jonathan P. Graham sold 25,045 shares of the business's stock in a transaction on Friday, February 7th. The shares were 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 $8,496,669.44. This represents a 46.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,405 shares of company stock valued at $10,410,596. 0.69% of the stock is owned by insiders.

About Amgen

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.