RE Dickinson Investment Advisors LLC Lowers Position in Amgen Inc. (NASDAQ:AMGN)

RE Dickinson Investment Advisors LLC reduced its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 82.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 387 shares of the medical research company's stock after selling 1,765 shares during the quarter. RE Dickinson Investment Advisors LLC's holdings in Amgen were worth $101,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of AMGN. Sagespring Wealth Partners LLC acquired a new stake in Amgen during the fourth quarter worth $3,781,000. Townsquare Capital LLC lifted its position in Amgen by 11.7% in the fourth quarter. Townsquare Capital LLC now owns 32,165 shares of the medical research company's stock valued at $8,384,000 after buying an additional 3,371 shares during the last quarter. Legacy Investment Solutions LLC increased its position in shares of Amgen by 46.9% during the fourth quarter. Legacy Investment Solutions LLC now owns 141 shares of the medical research company's stock valued at $37,000 after acquiring an additional 45 shares during the last quarter. Nicolet Bankshares Inc. lifted its holdings in shares of Amgen by 6.7% in the 4th quarter. Nicolet Bankshares Inc. now owns 1,327 shares of the medical research company's stock worth $346,000 after acquiring an additional 83 shares during the last quarter. Finally, Petros Family Wealth LLC purchased a new position in shares of Amgen during the 4th quarter worth approximately $854,000. Hedge funds and other institutional investors own 76.50% of the company's stock.

Insider Activity

In related news, EVP David M. Reese sold 25,225 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the completion of the sale, the executive vice president now owns 36,922 shares in the company, valued at $11,240,533.68. This represents a 40.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Nancy A. Grygiel sold 1,589 shares of Amgen stock in a transaction on Wednesday, February 5th. The shares were 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 owns 7,210 shares in the company, valued at approximately $2,195,228.70. This represents a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 69,341 shares of company stock valued at $20,644,335. 0.69% of the stock is currently owned by company insiders.

Amgen Stock Down 1.9 %

Amgen stock traded down $5.35 during mid-day trading on Friday, hitting $277.29. The company had a trading volume of 4,371,822 shares, compared to its average volume of 2,793,267. The business has a fifty day moving average of $303.43 and a 200 day moving average of $294.51. Amgen Inc. has a 1 year low of $253.30 and a 1 year 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. The stock has a market cap of $149.09 billion, a price-to-earnings ratio of 36.73, a PEG ratio of 2.63 and a beta of 0.59.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (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, sell-side analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently disclosed 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. This represents a $9.52 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend is Friday, May 16th. Amgen's dividend payout ratio is currently 126.09%.

Wall Street Analyst Weigh In

A number of research analysts have commented on AMGN shares. Johnson Rice set a $294.00 price target on Amgen in a research note on Wednesday, March 5th. Citigroup reissued a "neutral" rating on shares of Amgen in a research note on Wednesday, February 5th. Truist Financial dropped their target price on Amgen from $333.00 to $298.00 and set a "hold" rating for the company in a research report on Wednesday, January 8th. Wells Fargo & Company reissued an "equal weight" rating on shares of Amgen in a research report on Wednesday, February 5th. Finally, Bank of America raised their price objective on shares of Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a research note on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $314.91.

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.