Hoey Investments Inc. Has $1.39 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Hoey Investments Inc. decreased its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 31.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 5,349 shares of the medical research company's stock after selling 2,484 shares during the period. Amgen comprises about 0.2% of Hoey Investments Inc.'s investment portfolio, making the stock its 21st biggest holding. Hoey Investments Inc.'s holdings in Amgen were worth $1,394,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Amgen by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 52,721,795 shares of the medical research company's stock valued at $13,741,409,000 after buying an additional 339,522 shares during the period. State Street Corp raised its holdings in shares of Amgen by 1.2% during the third quarter. State Street Corp now owns 29,317,018 shares of the medical research company's stock worth $9,446,236,000 after acquiring an additional 345,537 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Amgen by 25.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company's stock valued at $3,441,909,000 after purchasing an additional 2,672,975 shares during the last quarter. Geode Capital Management LLC increased its position in Amgen by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 12,122,889 shares of the medical research company's stock worth $3,893,771,000 after purchasing an additional 103,851 shares during the last quarter. Finally, Norges Bank acquired a new position in Amgen in the 4th quarter worth about $1,541,991,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Amgen Stock Performance

Amgen stock traded down $11.52 on Friday, hitting $298.33. The company's stock had a trading volume of 1,896,505 shares, compared to its average volume of 2,710,783. The company has a fifty day moving average price of $303.80 and a 200-day moving average price of $297.77. The firm has a market cap of $160.27 billion, a P/E ratio of 39.50, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53. Amgen Inc. has a one year low of $253.30 and a one year 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.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings results 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 net margin of 12.24% and a return on equity of 176.32%. On average, equities analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be given a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend is Friday, May 16th. Amgen's dividend payout ratio (DPR) is 126.09%.

Insiders Place Their Bets

In other news, EVP Jonathan P. Graham sold 25,045 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 28,987 shares of the company's stock, valued at approximately $8,496,669.44. This trade represents a 46.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of Amgen stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total transaction of $483,802.83. Following the completion of the transaction, the senior vice president now owns 7,210 shares of the company's stock, valued at $2,195,228.70. This trade represents a 18.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 69,341 shares of company stock worth $20,644,335 over the last three months. 0.69% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on AMGN shares. Citigroup reissued a "neutral" rating on shares of Amgen in a research note on Wednesday, February 5th. Wells Fargo & Company restated an "equal weight" rating on shares of Amgen in a report on Wednesday, February 5th. Bank of America upped 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. UBS Group restated a "hold" rating on shares of Amgen in a report on Wednesday, February 12th. Finally, Johnson Rice set a $294.00 price target on Amgen in a research note on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $314.04.

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.