River Road Asset Management LLC Has $10.65 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

River Road Asset Management LLC cut its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 15.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,845 shares of the medical research company's stock after selling 7,606 shares during the period. River Road Asset Management LLC's holdings in Amgen were worth $10,646,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in AMGN. Talbot Financial LLC lifted its position 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 acquiring an additional 2,274 shares in the last quarter. Swiss National Bank lifted its position in shares of Amgen by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company's stock worth $513,033,000 after buying an additional 5,500 shares in the last quarter. Asset Advisors Investment Management LLC grew its holdings in shares of Amgen by 9.0% in the third quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company's stock valued at $11,578,000 after acquiring an additional 2,954 shares in the last quarter. Principal Financial Group Inc. boosted its position in Amgen by 6.0% in the third quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company's stock worth $204,659,000 after purchasing an additional 35,785 shares during the last quarter. Finally, Ascent Wealth Partners LLC increased its position in shares of Amgen by 0.7% during 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 last quarter. Institutional investors own 76.50% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Redburn Partners dropped their price target on shares of Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Leerink Partners decreased their price target on shares of Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Piper Sandler upped their target price on shares of Amgen from $310.00 to $329.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. Deutsche Bank Aktiengesellschaft reduced their price objective on Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Finally, Wells Fargo & Company restated an "equal weight" rating on shares of Amgen in a research report on Wednesday, February 5th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $314.04.

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Insider Activity at Amgen

In related news, EVP David M. Reese sold 25,225 shares of the stock in a transaction 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 of the company's stock, valued at approximately $11,240,533.68. This trade represents a 40.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Murdo Gordon sold 8,771 shares of the business's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $294.79, for a total value of $2,585,603.09. Following the sale, the executive vice president now owns 44,186 shares of the company's stock, valued at $13,025,590.94. The trade was a 16.56 % decrease in their position. 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 over the last quarter. Insiders own 0.69% of the company's stock.

Amgen Trading Down 2.6 %

NASDAQ AMGN opened at $318.89 on Wednesday. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. The firm has a market cap of $171.31 billion, a price-to-earnings ratio of 42.24, a PEG ratio of 2.63 and a beta of 0.53. The firm has a 50 day simple moving average of $288.66 and a 200-day simple moving average of $299.43. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data 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%. Equities research analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be given a dividend of $2.38 per share. The ex-dividend date is Friday, May 16th. This represents a $9.52 annualized dividend and a dividend yield of 2.99%. Amgen's dividend payout ratio is currently 126.09%.

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.

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