ProVise Management Group LLC trimmed its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 13.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,220 shares of the medical research company's stock after selling 2,501 shares during the period. ProVise Management Group LLC's holdings in Amgen were worth $4,228,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently made changes to their positions in AMGN. Charles Schwab Investment Management Inc. lifted its stake in shares of Amgen by 25.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company's stock valued at $3,441,909,000 after buying an additional 2,672,975 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Amgen in the fourth quarter valued at $401,913,000. Van ECK Associates Corp raised its holdings in shares of Amgen by 263.8% in the fourth quarter. Van ECK Associates Corp now owns 1,038,593 shares of the medical research company's stock valued at $270,699,000 after purchasing an additional 753,147 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of Amgen by 40.7% in the fourth quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company's stock valued at $609,526,000 after purchasing an additional 676,598 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of Amgen by 11.7% in the third quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company's stock valued at $1,657,183,000 after purchasing an additional 538,545 shares during the last quarter. 76.50% of the stock is owned by institutional investors.
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 shares were 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 owns 36,922 shares of the company's stock, valued at $11,240,533.68. The trade was a 40.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Nancy A. Grygiel sold 1,589 shares of the business's stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 7,210 shares of the company's stock, valued at approximately $2,195,228.70. This 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 quarter. Corporate insiders own 0.69% of the company's stock.
Analyst Ratings Changes
Several analysts have recently commented on AMGN shares. Piper Sandler Companies reiterated an "overweight" rating and issued a $310.00 target price on shares of Amgen in a report on Thursday, January 2nd. Truist Financial lowered their target price on shares of Amgen from $333.00 to $298.00 and set a "hold" rating for the company in a report on Wednesday, January 8th. UBS Group reiterated a "hold" rating on shares of Amgen in a report on Wednesday, February 12th. Redburn Partners lowered their target price on shares of Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Finally, Bank of America raised their price objective on shares of Amgen from $275.00 to $294.00 and gave the stock an "underperform" rating in a report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $314.04.
Check Out Our Latest Stock Analysis on Amgen
Amgen Price Performance
NASDAQ:AMGN traded up $1.00 during mid-day trading on Friday, hitting $316.04. 9,994,350 shares of the stock traded hands, compared to its average volume of 2,553,454. The business's 50-day moving average price is $297.24 and its 200 day moving average price is $298.80. The company has a market cap of $169.78 billion, a PE ratio of 41.86, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. 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 the consensus estimate of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. On average, analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.
Amgen Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be paid a $2.38 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a yield of 3.01%. Amgen's dividend payout ratio is presently 126.09%.
About Amgen
(
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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