PNC Financial Services Group Inc. lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,017,963 shares of the medical research company's stock after selling 21,757 shares during the quarter. PNC Financial Services Group Inc. owned 0.19% of Amgen worth $265,322,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Talbot Financial LLC grew its stake in Amgen by 5.6% in the 4th quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company's stock valued at $11,153,000 after purchasing an additional 2,274 shares during the period. Swiss National Bank grew its stake in Amgen by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company's stock valued at $513,033,000 after purchasing an additional 5,500 shares during the period. Asset Advisors Investment Management LLC grew its stake in Amgen by 9.0% in the 3rd quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company's stock valued at $11,578,000 after purchasing an additional 2,954 shares during the period. Principal Financial Group Inc. grew its stake in Amgen by 6.0% in the 3rd quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company's stock valued at $204,659,000 after purchasing an additional 35,785 shares during the period. Finally, Ascent Wealth Partners LLC grew its stake in Amgen by 0.7% in the 4th quarter. Ascent Wealth Partners LLC now owns 9,024 shares of the medical research company's stock valued at $2,352,000 after purchasing an additional 64 shares during the period. Institutional investors own 76.50% of the company's stock.
Analysts Set New Price Targets
AMGN has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reduced their price objective on Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Redburn Partners reduced their price objective on Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Citigroup restated a "neutral" rating on shares of Amgen in a research note on Wednesday, February 5th. Piper Sandler Companies reiterated an "overweight" rating and set a $310.00 price target on shares of Amgen in a research note on Thursday, January 2nd. Finally, Truist Financial cut their price target on Amgen from $333.00 to $298.00 and set a "hold" rating for the company in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Amgen currently has an average rating of "Hold" and a consensus price target of $314.95.
Read Our Latest Report on AMGN
Amgen Price Performance
Shares of NASDAQ:AMGN traded up $7.04 on Friday, hitting $324.86. The company's stock had a trading volume of 3,944,118 shares, compared to its average volume of 2,546,426. The company has a 50-day simple moving average of $286.14 and a 200 day simple moving average of $299.69. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The company has a market capitalization of $174.52 billion, a PE ratio of 43.03, a PEG ratio of 2.63 and a beta of 0.53. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95.
Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, beating 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 forecast that Amgen Inc. will post 20.62 EPS for the current fiscal year.
Amgen Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be issued a $2.38 dividend. The ex-dividend date is Friday, May 16th. This represents a $9.52 annualized dividend and a dividend yield of 2.93%. Amgen's payout ratio is currently 126.09%.
Insider Buying and Selling at Amgen
In related 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 transaction of $483,802.83. Following the transaction, the senior vice president now directly owns 7,210 shares of the company's stock, valued at approximately $2,195,228.70. This trade represents a 18.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP David M. Reese sold 8,711 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $293.22, for a total value of $2,554,239.42. Following the transaction, the executive vice president now directly owns 62,147 shares in the company, valued at approximately $18,222,743.34. This represents a 12.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,341 shares of company stock valued at $20,644,335 in the last 90 days. Corporate insiders own 0.69% of the company's stock.
Amgen Company Profile
(
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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