Qtron Investments LLC Sells 876 Shares of Amgen Inc. (NASDAQ:AMGN)

Qtron Investments LLC decreased its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 12.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,007 shares of the medical research company's stock after selling 876 shares during the period. Qtron Investments LLC's holdings in Amgen were worth $1,566,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in AMGN. Virtu Financial LLC bought a new stake in shares of Amgen during the 3rd quarter valued at $1,588,000. Morse Asset Management Inc bought a new position in shares of Amgen in the third quarter worth about $806,000. Tudor Financial Inc. purchased a new stake in shares of Amgen in the third quarter worth $3,281,000. World Investment Advisors LLC raised its holdings in Amgen by 48.4% during the third quarter. World Investment Advisors LLC now owns 11,083 shares of the medical research company's stock valued at $3,571,000 after acquiring an additional 3,616 shares during the period. Finally, Arvest Bank Trust Division purchased a new position in Amgen in the 3rd quarter worth approximately $408,000. 76.50% of the stock is currently owned by institutional investors.

Amgen Price Performance

NASDAQ:AMGN traded up $1.38 during trading hours on Tuesday, reaching $295.30. 2,592,038 shares of the company's stock were exchanged, compared to its average volume of 2,777,829. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The business's 50-day simple moving average is $304.05 and its two-hundred day simple moving average is $294.91. The company has a market capitalization of $158.77 billion, a P/E ratio of 39.11, a price-to-earnings-growth ratio of 2.63 and a beta of 0.59. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62.

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Amgen (NASDAQ:AMGN - Get Free Report) last issued its earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, topping 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 expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The business 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 $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 3.22%. Amgen's payout ratio is 126.09%.

Analysts Set New Price Targets

Several research firms have commented on AMGN. Piper Sandler Companies reaffirmed an "overweight" rating and set a $310.00 price objective on shares of Amgen in a research note on Thursday, January 2nd. Bank of America upped their price objective on Amgen from $275.00 to $294.00 and gave the stock an "underperform" rating in a research note on Wednesday, March 5th. Truist Financial lowered their price objective on Amgen from $333.00 to $298.00 and set a "hold" rating for the company in a research report on Wednesday, January 8th. Royal Bank of Canada restated an "outperform" rating and set a $324.00 price target on shares of Amgen in a research note on Friday, January 24th. Finally, UBS Group lifted their target price on Amgen from $315.00 to $319.00 and gave the stock a "neutral" rating in a report on Monday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $314.91.

Insider Buying and Selling at Amgen

In other Amgen news, EVP Murdo Gordon sold 8,771 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $294.79, for a total transaction of $2,585,603.09. Following the transaction, the executive vice president now owns 44,186 shares in the company, valued at $13,025,590.94. This trade represents a 16.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Nancy A. Grygiel sold 1,589 shares of the company's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total transaction of $483,802.83. Following the sale, the senior vice president now 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 disclosure for this sale can be found here. Insiders sold 69,341 shares of company stock valued at $20,644,335 in the last quarter. Company insiders own 0.69% of the company's stock.

Amgen Company 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.