Martingale Asset Management L P Sells 3,021 Shares of Amgen Inc. (NASDAQ:AMGN)

Martingale Asset Management L P cut its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 3.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,330 shares of the medical research company's stock after selling 3,021 shares during the period. Martingale Asset Management L P's holdings in Amgen were worth $19,373,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Talbot Financial LLC grew its stake in shares of Amgen by 5.6% in the fourth quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company's stock worth $11,153,000 after purchasing an additional 2,274 shares in the last quarter. Asset Advisors Investment Management LLC boosted its holdings in shares of Amgen by 9.0% in the third quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company's stock valued at $11,578,000 after acquiring an additional 2,954 shares in the last quarter. Ascent Wealth Partners LLC increased its stake 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 acquiring an additional 64 shares during the period. Principal Financial Group Inc. raised its holdings in Amgen by 6.0% during the third quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company's stock worth $204,659,000 after purchasing an additional 35,785 shares in the last quarter. Finally, ICICI Prudential Asset Management Co Ltd lifted its position in Amgen by 242.2% in the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 23,999 shares of the medical research company's stock worth $6,255,000 after purchasing an additional 16,985 shares during the period. 76.50% of the stock is currently owned by institutional investors.

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Insider Activity

In other news, EVP Jonathan P. Graham sold 25,045 shares of the business's stock in a transaction dated 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 transaction, the executive vice president now owns 28,987 shares in the company, valued at approximately $8,496,669.44. The trade was a 46.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP David M. Reese sold 8,711 shares of Amgen stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $293.22, for a total value of $2,554,239.42. Following the sale, the executive vice president now directly owns 62,147 shares in the company, valued at approximately $18,222,743.34. This trade represents a 12.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,341 shares of company stock valued at $20,644,335. 0.69% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AMGN. Wells Fargo & Company reissued an "equal weight" rating on shares of Amgen in a research note on Wednesday, February 5th. Piper Sandler Companies reissued an "overweight" rating and issued a $310.00 price target on shares of Amgen in a report on Thursday, January 2nd. Truist Financial lowered their price objective on shares of Amgen from $333.00 to $298.00 and set a "hold" rating on the stock in a research note on Wednesday, January 8th. Bank of America increased their target price on shares of Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a research note on Wednesday, March 5th. Finally, StockNews.com upgraded shares of Amgen from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, April 9th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $315.22.

Amgen Stock Up 1.3 %

Shares of AMGN traded up $3.72 during mid-day trading on Monday, hitting $289.70. 589,776 shares of the company's stock were exchanged, compared to its average volume of 2,771,139. The stock has a market cap of $155.76 billion, a price-to-earnings ratio of 38.37, a P/E/G ratio of 2.63 and a beta of 0.59. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The firm has a fifty day moving average of $304.33 and a two-hundred day moving average of $295.11. 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 quarterly earnings data 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, sell-side analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 3.29%. 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.