Scotia Capital Inc. Sells 7,208 Shares of Amgen Inc. (NASDAQ:AMGN)

Scotia Capital Inc. decreased its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 14.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,016 shares of the medical research company's stock after selling 7,208 shares during the period. Scotia Capital Inc.'s holdings in Amgen were worth $11,473,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Centricity Wealth Management LLC bought a new stake in Amgen in the fourth quarter valued at $25,000. Ritter Daniher Financial Advisory LLC DE increased its holdings in shares of Amgen by 66.2% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock worth $33,000 after acquiring an additional 51 shares during the period. Synergy Investment Management LLC bought a new stake in Amgen in the 4th quarter valued at about $34,000. Atala Financial Inc bought a new stake in shares of Amgen during the fourth quarter valued at approximately $34,000. Finally, Heck Capital Advisors LLC acquired a new stake in Amgen in the 4th quarter valued at approximately $36,000. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Stock Up 0.5 %

Shares of Amgen stock traded up $1.38 during trading on Tuesday, hitting $295.30. 2,588,402 shares of the stock traded hands, compared to its average volume of 2,777,829. The company has a fifty day moving average price of $304.05 and a two-hundred day moving average price of $294.91. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The stock has a market cap of $158.77 billion, a P/E ratio of 39.11, a PEG ratio of 2.63 and a beta of 0.59. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26.

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Amgen (NASDAQ:AMGN - Get Free Report) last posted its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. Equities research analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The firm 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 dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend is Friday, May 16th. Amgen's payout ratio is 126.09%.

Insider Buying and Selling at Amgen

In other news, EVP Murdo Gordon sold 8,771 shares of Amgen stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $294.79, for a total value of $2,585,603.09. Following the transaction, the executive vice president now owns 44,186 shares of the company's stock, valued at $13,025,590.94. This trade represents a 16.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Nancy A. Grygiel sold 1,589 shares of the business's stock in a transaction 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 sale, the senior vice president now owns 7,210 shares of the company's stock, valued at $2,195,228.70. The trade was a 18.06 % 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 worth $20,644,335 over the last three months. Corporate insiders own 0.69% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AMGN shares. Johnson Rice set a $294.00 price target on Amgen in a research note on Wednesday, March 5th. Truist Financial decreased their price objective 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. Bank of America boosted their target price on Amgen from $275.00 to $294.00 and gave the stock an "underperform" rating in a report on Wednesday, March 5th. Piper Sandler lifted their price target on Amgen from $310.00 to $329.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. Finally, StockNews.com upgraded shares of Amgen from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, April 9th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $314.91.

About Amgen

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.