DnB Asset Management AS Raises Stock Position in Amgen Inc. (NASDAQ:AMGN)

DnB Asset Management AS raised its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 1.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 164,774 shares of the medical research company's stock after buying an additional 3,017 shares during the period. DnB Asset Management AS's holdings in Amgen were worth $42,947,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Talbot Financial LLC increased its stake in shares of Amgen by 5.6% during the fourth quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company's stock valued at $11,153,000 after buying an additional 2,274 shares during the period. Asset Advisors Investment Management LLC lifted its position in shares of Amgen by 9.0% in the 3rd quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company's stock worth $11,578,000 after purchasing an additional 2,954 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Amgen by 6.0% during the 3rd 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 in the last quarter. Ascent Wealth Partners LLC increased its position in shares of Amgen by 0.7% during the fourth quarter. Ascent Wealth Partners LLC now owns 9,024 shares of the medical research company's stock valued at $2,352,000 after buying an additional 64 shares during the period. Finally, ICICI Prudential Asset Management Co Ltd raised its position in shares of Amgen by 242.2% in the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 23,999 shares of the medical research company's stock worth $6,255,000 after acquiring an additional 16,985 shares in the last quarter. Institutional investors own 76.50% of the company's stock.

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Amgen Stock Performance

Amgen stock traded down $2.02 during midday trading on Tuesday, hitting $309.53. The stock had a trading volume of 689,374 shares, compared to its average volume of 2,695,802. 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 52-week low of $253.30 and a 52-week high of $346.85. The company has a market capitalization of $166.28 billion, a PE ratio of 41.00, a P/E/G ratio of 2.63 and a beta of 0.53. The firm's fifty day moving average is $301.87 and its two-hundred day moving average is $297.81.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, beating 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%. On average, research analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be issued a $2.38 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a yield of 3.08%. Amgen's dividend payout ratio is presently 126.09%.

Analyst Ratings Changes

A number of research firms have recently weighed in on AMGN. Truist Financial reduced their target price on shares of Amgen from $333.00 to $298.00 and set a "hold" rating on the stock in a research report on Wednesday, January 8th. Citigroup reissued a "neutral" rating on shares of Amgen in a research report on Wednesday, February 5th. Johnson Rice set a $294.00 target price on shares of Amgen in a research note on Wednesday, March 5th. Wells Fargo & Company reiterated an "equal weight" rating on shares of Amgen in a report on Wednesday, February 5th. Finally, Bank of America boosted their price objective on shares of Amgen from $275.00 to $294.00 and gave the stock an "underperform" rating in a report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Amgen currently has an average rating of "Moderate Buy" and a consensus price target of $314.04.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,589 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total transaction of $483,802.83. Following the sale, the senior vice president now directly owns 7,210 shares of the company's stock, valued at $2,195,228.70. The trade was a 18.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP David M. Reese sold 25,225 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the completion of the sale, the executive vice president now directly owns 36,922 shares in the company, valued at approximately $11,240,533.68. This represents a 40.59 % decrease in their position. 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. 0.69% of the stock is currently owned by corporate insiders.

Amgen Company 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.