Great Lakes Advisors LLC Trims Stake in Amgen Inc. (NASDAQ:AMGN)

Great Lakes Advisors LLC lowered its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 57.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 136,289 shares of the medical research company's stock after selling 183,632 shares during the quarter. Great Lakes Advisors LLC's holdings in Amgen were worth $35,522,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in Amgen in the 3rd quarter valued at $25,000. Centricity Wealth Management LLC acquired a new position in Amgen in the 4th quarter valued at $25,000. Legacy Investment Solutions LLC acquired a new position in Amgen in the 3rd quarter valued at $29,000. Synergy Investment Management LLC acquired a new position in Amgen in the 4th quarter valued at $34,000. Finally, Heck Capital Advisors LLC acquired a new position in Amgen in the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 76.50% of the company's stock.

Insider Activity

In related news, EVP David M. Reese sold 25,225 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the sale, the executive vice president now owns 36,922 shares of the company's stock, valued at $11,240,533.68. The trade was a 40.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $483,802.83. Following the sale, the senior vice president now directly owns 7,210 shares in the company, valued at approximately $2,195,228.70. The trade was a 18.06 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,341 shares of company stock valued at $20,644,335. Insiders own 0.69% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on AMGN. Johnson Rice set a $294.00 price target on Amgen in a report on Wednesday, March 5th. UBS Group restated a "hold" rating on shares of Amgen in a report on Wednesday, February 12th. Wells Fargo & Company restated an "equal weight" rating on shares of Amgen in a report on Wednesday, February 5th. Piper Sandler Companies restated an "overweight" rating and set a $310.00 price objective on shares of Amgen in a report on Thursday, January 2nd. Finally, Truist Financial dropped their price objective on Amgen from $333.00 to $298.00 and set a "hold" rating for the company in a report on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Amgen has an average rating of "Hold" and an average target price of $314.04.

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Amgen Price Performance

AMGN opened at $318.89 on Wednesday. The firm has a market cap of $171.31 billion, a price-to-earnings ratio of 42.24, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The company's 50-day moving average price is $288.66 and its 200 day moving average price is $299.43. 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 released its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share 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, sell-side analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be issued a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 2.99%. Amgen's dividend payout ratio (DPR) is presently 126.09%.

Amgen 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.

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