Amgen Inc. (NASDAQ:AMGN) Holdings Reduced by Shelton Capital Management

Shelton Capital Management lowered its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 52.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 83,769 shares of the medical research company's stock after selling 90,975 shares during the period. Shelton Capital Management's holdings in Amgen were worth $21,834,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Centricity Wealth Management LLC acquired a new position in Amgen in the 4th quarter valued at about $25,000. Legacy Investment Solutions LLC purchased a new stake in shares of Amgen during the third quarter worth about $29,000. Ritter Daniher Financial Advisory LLC DE raised its position in shares of Amgen by 66.2% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock valued at $33,000 after buying an additional 51 shares during the last quarter. Synergy Investment Management LLC purchased a new position in shares of Amgen during the fourth quarter valued at approximately $34,000. Finally, Atala Financial Inc acquired a new stake in Amgen during the fourth quarter worth approximately $34,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Amgen news, EVP David M. Reese sold 25,225 shares of Amgen stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 36,922 shares in the company, valued at $11,240,533.68. The trade was a 40.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of the firm'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 value of $483,802.83. Following the completion of the sale, the senior vice president now directly owns 7,210 shares in the company, valued at approximately $2,195,228.70. This trade 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 over the last 90 days. 0.69% of the stock is owned by company insiders.

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Amgen Stock Up 1.6 %

Shares of NASDAQ:AMGN traded up $4.57 during midday trading on Friday, reaching $285.98. The company had a trading volume of 3,466,932 shares, compared to its average volume of 2,779,713. The stock has a market capitalization of $153.76 billion, a P/E ratio of 37.88, a PEG ratio of 2.63 and a beta of 0.59. The stock's fifty day moving average price is $304.33 and its 200-day moving average price is $295.11. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. 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 issued 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 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. Investors of record on Friday, May 16th will be paid a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.33%. The ex-dividend date is Friday, May 16th. Amgen's dividend payout ratio (DPR) is presently 126.09%.

Analysts Set New Price Targets

Several research analysts have weighed in on AMGN shares. Piper Sandler boosted their price target on Amgen from $310.00 to $329.00 and gave the company an "overweight" rating in a report on Monday, February 10th. Johnson Rice set a $294.00 target price on shares of Amgen in a research report on Wednesday, March 5th. Bank of America lifted their price target on shares of Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a report on Wednesday, March 5th. Wells Fargo & Company restated an "equal weight" rating on shares of Amgen in a report on Wednesday, February 5th. Finally, Morgan Stanley increased their target price on Amgen from $328.00 to $330.00 and gave the stock an "equal weight" rating in a research report on Wednesday. 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, Amgen currently has an average rating of "Moderate Buy" and an average target price of $315.22.

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.