Philadelphia Trust Co. Reduces Stock Position in Amgen Inc. (NASDAQ:AMGN)

Philadelphia Trust Co. decreased its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 6.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,997 shares of the medical research company's stock after selling 2,529 shares during the period. Philadelphia Trust Co.'s holdings in Amgen were worth $9,382,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Blossom Wealth Management lifted its holdings in shares of Amgen by 3.5% during the fourth quarter. Blossom Wealth Management now owns 1,090 shares of the medical research company's stock worth $284,000 after buying an additional 37 shares during the last quarter. Zullo Investment Group Inc. grew its holdings in shares of Amgen by 2.8% during the fourth quarter. Zullo Investment Group Inc. now owns 1,364 shares of the medical research company's stock worth $356,000 after purchasing an additional 37 shares during the last quarter. Trillium Asset Management LLC raised its position in shares of Amgen by 4.2% during the fourth quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company's stock worth $237,000 after acquiring an additional 37 shares during the last quarter. Evermay Wealth Management LLC lifted its stake in shares of Amgen by 1.5% in the 4th quarter. Evermay Wealth Management LLC now owns 2,650 shares of the medical research company's stock valued at $691,000 after purchasing an additional 38 shares during the period. Finally, Great Lakes Retirement Inc. increased its stake in Amgen by 0.4% in the fourth quarter. Great Lakes Retirement Inc. now owns 10,220 shares of the medical research company's stock valued at $2,664,000 after purchasing an additional 38 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

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Insiders Place Their Bets

In other Amgen 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 value of $7,679,499.00. Following the completion of the transaction, the executive vice president now directly owns 36,922 shares of the company's stock, valued at approximately $11,240,533.68. The trade was a 40.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of the business's stock in a transaction 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 completion of the sale, the senior vice president now directly owns 7,210 shares of the company's stock, 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. Insiders sold a total of 69,341 shares of company stock worth $20,644,335 over the last 90 days. Company insiders own 0.69% of the company's stock.

Amgen Price Performance

NASDAQ:AMGN traded up $1.38 on Tuesday, reaching $295.30. 2,592,038 shares of the company's stock traded hands, compared to its average volume of 2,777,829. 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 Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The stock has a 50-day simple moving average of $304.05 and a 200-day simple moving average of $294.91. The firm has a market cap of $158.77 billion, a PE ratio of 39.11, a P/E/G ratio of 2.63 and a beta of 0.59.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, beating analysts' consensus estimates of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. Equities research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be given a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend is Friday, May 16th. Amgen's dividend payout ratio (DPR) is presently 126.09%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Wells Fargo & Company reissued an "equal weight" rating on shares of Amgen in a research note on Wednesday, February 5th. UBS Group upped their price target on shares of Amgen from $315.00 to $319.00 and gave the company a "neutral" rating in a research note on Monday. Piper Sandler Companies reaffirmed an "overweight" rating and issued a $310.00 price objective on shares of Amgen in a report on Thursday, January 2nd. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $324.00 target price on shares of Amgen in a report on Friday, January 24th. Finally, Piper Sandler boosted their price objective on Amgen from $310.00 to $329.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $314.91.

About Amgen

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.