Convergence Investment Partners LLC Has $325,000 Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Convergence Investment Partners LLC trimmed its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 53.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,247 shares of the medical research company's stock after selling 1,431 shares during the period. Convergence Investment Partners LLC's holdings in Amgen were worth $325,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in AMGN. Lansing Street Advisors grew its holdings in shares of Amgen by 1.3% during the 3rd quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company's stock valued at $832,000 after acquiring an additional 32 shares in the last quarter. Unionview LLC boosted its position in Amgen by 3.8% during the third quarter. Unionview LLC now owns 876 shares of the medical research company's stock valued at $282,000 after purchasing an additional 32 shares during the last quarter. AM Investment Strategies LLC boosted its position in Amgen by 0.4% during the third quarter. AM Investment Strategies LLC now owns 7,471 shares of the medical research company's stock valued at $2,407,000 after purchasing an additional 33 shares during the last quarter. Avidian Wealth Enterprises LLC grew its stake in Amgen by 0.6% in the third quarter. Avidian Wealth Enterprises LLC now owns 5,863 shares of the medical research company's stock valued at $1,889,000 after purchasing an additional 33 shares in the last quarter. Finally, Beacon Financial Advisory LLC increased its position in Amgen by 4.6% in the 3rd quarter. Beacon Financial Advisory LLC now owns 769 shares of the medical research company's stock worth $248,000 after purchasing an additional 34 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Performance

Amgen stock traded up $5.68 during trading hours on Friday, hitting $303.61. The stock had a trading volume of 1,595,094 shares, compared to its average volume of 3,072,258. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The company has a market cap of $163.10 billion, a PE ratio of 40.18, a price-to-earnings-growth ratio of 2.55 and a beta of 0.56. The company has a 50-day moving average of $275.62 and a two-hundred day moving average of $300.75. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, beating 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%. On average, equities research analysts anticipate that Amgen Inc. will post 20.6 EPS for the current fiscal year.

Amgen Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be given a dividend of $2.38 per share. This is a positive change from Amgen's previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend is Friday, February 14th. Amgen's payout ratio is 126.09%.

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 1,589 shares of the business'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 sale, the senior vice president now owns 7,210 shares of the company's stock, valued at $2,195,228.70. The trade was a 18.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Murdo Gordon sold 8,771 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $294.79, for a total value of $2,585,603.09. Following the transaction, the executive vice president now owns 44,186 shares of the company's stock, valued at $13,025,590.94. This represents a 16.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,405 shares of company stock valued at $10,410,596 over the last quarter. 0.69% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

AMGN has been the subject of several research reports. Piper Sandler lifted their price target on Amgen from $310.00 to $329.00 and gave the company an "overweight" rating in a report on Monday, February 10th. Redburn Partners reduced their target price on shares of Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. William Blair reiterated an "outperform" rating on shares of Amgen in a report on Tuesday, November 12th. Bank of America raised their target price on Amgen from $256.00 to $275.00 and gave the company an "underperform" rating in a report on Thursday, February 6th. Finally, Piper Sandler Companies reiterated an "overweight" rating and set a $310.00 price target on shares of Amgen in a research note on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Amgen presently has an average rating of "Hold" and a consensus price target of $314.09.

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.