HUB Investment Partners LLC Sells 1,017 Shares of Amgen Inc. (NASDAQ:AMGN)

HUB Investment Partners LLC trimmed its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 32.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,082 shares of the medical research company's stock after selling 1,017 shares during the quarter. HUB Investment Partners LLC's holdings in Amgen were worth $543,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Centricity Wealth Management LLC purchased a new stake in shares of Amgen in the fourth quarter worth $25,000. Legacy Investment Solutions LLC bought a new position in Amgen in the 3rd quarter worth about $29,000. Synergy Investment Management LLC purchased a new stake in Amgen during the 4th quarter valued at about $34,000. Atala Financial Inc purchased a new position in Amgen in the 4th quarter worth approximately $34,000. Finally, Heck Capital Advisors LLC bought a new position in shares of Amgen during the fourth quarter valued at $36,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Trading Down 0.4 %

NASDAQ AMGN traded down $1.15 during trading on Wednesday, hitting $305.71. The stock had a trading volume of 2,374,813 shares, compared to its average volume of 2,548,827. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The stock has a 50 day simple moving average of $298.92 and a 200 day simple moving average of $298.41. The stock has a market capitalization of $164.23 billion, a price-to-earnings ratio of 40.49, a P/E/G ratio of 2.63 and a beta of 0.53. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26.

Remove Ads

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results 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 return on equity of 176.32% and a net margin of 12.24%. Sell-side analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be issued a dividend of $2.38 per share. The ex-dividend date is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a yield of 3.11%. Amgen's payout ratio is 126.09%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Leerink Partners dropped their target price on shares of Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Redburn Partners lowered their price objective on Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Piper Sandler increased their target price on shares of Amgen from $310.00 to $329.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. UBS Group restated a "hold" rating on shares of Amgen in a research report on Wednesday, February 12th. Finally, Truist Financial lowered their price target on Amgen from $333.00 to $298.00 and set a "hold" rating on the stock in a report on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $314.04.

Insider Buying and Selling at Amgen

In related news, EVP David M. Reese sold 25,225 shares of the company's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $304.44, for a total value of $7,679,499.00. Following the completion of the sale, the executive vice president now directly owns 36,922 shares of the company's stock, valued at $11,240,533.68. This represents a 40.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Nancy A. Grygiel sold 1,589 shares of the firm's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total transaction of $483,802.83. Following the transaction, the senior vice president now directly owns 7,210 shares in the company, 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 a total of 69,341 shares of company stock valued at $20,644,335 in the last three months. Company insiders own 0.69% of the company's stock.

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.