Pinnacle Financial Partners Inc increased its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 2.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,433 shares of the medical research company's stock after purchasing an additional 1,479 shares during the period. Pinnacle Financial Partners Inc's holdings in Amgen were worth $15,588,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Talbot Financial LLC boosted its position in shares of Amgen by 5.6% during the fourth quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company's stock worth $11,153,000 after buying an additional 2,274 shares during the period. Swiss National Bank raised its holdings in Amgen by 0.3% in the third quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company's stock valued at $513,033,000 after acquiring an additional 5,500 shares in the last quarter. Asset Advisors Investment Management LLC lifted its position in shares of Amgen by 9.0% during the 3rd quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company's stock worth $11,578,000 after purchasing an additional 2,954 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Amgen by 6.0% during the 3rd quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company's stock worth $204,659,000 after buying an additional 35,785 shares during the last quarter. Finally, ICICI Prudential Asset Management Co Ltd lifted its stake in Amgen by 242.2% during 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 last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.
Wall Street Analyst Weigh In
AMGN has been the topic of a number of research analyst reports. Wolfe Research started coverage on Amgen in a research report on Friday, November 15th. They set a "peer perform" rating on the stock. UBS Group restated a "hold" rating on shares of Amgen in a research report on Wednesday, February 12th. Piper Sandler boosted their target price on Amgen from $310.00 to $329.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. Bank of America raised their target price on Amgen from $256.00 to $275.00 and gave the company an "underperform" rating in a report on Thursday, February 6th. Finally, William Blair reissued an "outperform" rating on shares of Amgen in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $314.09.
Check Out Our Latest Stock Report on Amgen
Amgen Trading Down 2.9 %
Amgen stock traded down $9.25 during trading on Wednesday, hitting $306.38. The company's stock had a trading volume of 2,786,939 shares, compared to its average volume of 3,180,576. The stock's fifty day moving average is $278.13 and its 200 day moving average is $300.16. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The stock has a market capitalization of $164.59 billion, a price-to-earnings ratio of 40.58, a P/E/G ratio of 2.63 and a beta of 0.56. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26.
Amgen (NASDAQ:AMGN - Get Free Report) last posted 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 net margin of 12.24% and a return on equity of 176.32%. As a group, equities research analysts predict that Amgen Inc. will post 20.62 EPS for the current year.
Amgen Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be issued a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date is Friday, February 14th. This is a positive change from Amgen's previous quarterly dividend of $2.25. Amgen's dividend payout ratio (DPR) is 126.09%.
Insider Buying and Selling at Amgen
In other Amgen news, SVP Nancy A. Grygiel sold 1,589 shares of the firm's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total value of $483,802.83. Following the transaction, the senior vice president now directly owns 7,210 shares of the company's stock, valued at $2,195,228.70. This trade represents a 18.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction, the executive vice president now directly owns 36,922 shares in the company, valued at $11,240,533.68. This trade represents a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,341 shares of company stock valued at $20,644,335. Company insiders own 0.69% of the company's stock.
Amgen Company Profile
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Free Report)
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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