Amgen Inc. (NASDAQ:AMGN) Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 114,296 shares of the medical research company's stock after selling 2,675 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in Amgen were worth $29,790,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Centricity Wealth Management LLC acquired a new stake in Amgen during the fourth quarter worth about $25,000. Legacy Investment Solutions LLC purchased a new stake in Amgen during the third quarter worth approximately $29,000. Synergy Investment Management LLC acquired a new stake in shares of Amgen in the fourth quarter worth $34,000. Atala Financial Inc purchased a new position in shares of Amgen in the 4th quarter valued at $34,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of Amgen during the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 76.50% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on AMGN shares. Royal Bank of Canada reiterated an "outperform" rating and issued a $324.00 price target on shares of Amgen in a report on Friday, January 24th. Piper Sandler Companies reiterated an "overweight" rating and issued a $310.00 target price on shares of Amgen in a research note on Thursday, January 2nd. Leerink Partners dropped their target price on Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Johnson Rice set a $294.00 price target on Amgen in a report on Wednesday, March 5th. Finally, StockNews.com lowered shares of Amgen from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Amgen has an average rating of "Hold" and a consensus target price of $314.04.

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Amgen Stock Performance

NASDAQ:AMGN traded down $7.52 during trading hours on Tuesday, reaching $306.86. 2,564,825 shares of the stock were exchanged, compared to its average volume of 2,551,876. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. 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 stock has a market capitalization of $164.85 billion, a P/E ratio of 40.64, a P/E/G ratio of 2.63 and a beta of 0.53. The firm has a 50 day simple moving average of $298.13 and a 200-day simple moving average of $298.50.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, topping 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%. As a group, sell-side analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be given a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend is Friday, May 16th. Amgen's dividend payout ratio is presently 126.09%.

Insider Buying and Selling

In related news, EVP Jonathan P. Graham sold 25,045 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 28,987 shares in the company, valued at $8,496,669.44. The trade was a 46.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP David M. Reese sold 25,225 shares of the company'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 owns 36,922 shares of the company's stock, valued at approximately $11,240,533.68. The trade was a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,341 shares of company stock worth $20,644,335 over the last quarter. 0.69% of the stock is owned by company 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.