Amgen Inc. (NASDAQ:AMGN) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury trimmed its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 4.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 191,760 shares of the medical research company's stock after selling 7,937 shares during the quarter. State of Tennessee Department of Treasury's holdings in Amgen were worth $49,980,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Beck Mack & Oliver LLC increased its holdings in shares of Amgen by 0.7% in the fourth quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company's stock valued at $1,205,000 after purchasing an additional 34 shares during the period. Blossom Wealth Management boosted its position in Amgen by 3.5% in the fourth quarter. Blossom Wealth Management now owns 1,090 shares of the medical research company's stock valued at $284,000 after buying an additional 37 shares during the last quarter. Zullo Investment Group Inc. increased its holdings in Amgen by 2.8% in the 4th quarter. Zullo Investment Group Inc. now owns 1,364 shares of the medical research company's stock worth $356,000 after buying an additional 37 shares during the period. Trillium Asset Management LLC raised its position in Amgen by 4.2% during the 4th quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company's stock worth $237,000 after buying an additional 37 shares during the last quarter. Finally, Evermay Wealth Management LLC lifted its stake in Amgen by 1.5% during the 4th quarter. Evermay Wealth Management LLC now owns 2,650 shares of the medical research company's stock valued at $691,000 after acquiring an additional 38 shares during the period. Institutional investors own 76.50% of the company's stock.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,589 shares of the 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 transaction, the senior vice president now directly owns 7,210 shares in the company, valued at approximately $2,195,228.70. This represents a 18.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP David M. Reese sold 25,225 shares of the firm's stock in a transaction dated 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 sale, the executive vice president now directly owns 36,922 shares of the company's stock, valued at $11,240,533.68. The trade was a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,341 shares of company stock worth $20,644,335. Insiders own 0.69% of the company's stock.

Analysts Set New Price Targets

AMGN has been the topic of a number of research reports. Cantor Fitzgerald initiated coverage on shares of Amgen in a research note on Tuesday. They issued a "neutral" rating and a $305.00 price objective on the stock. Citigroup reiterated a "neutral" rating on shares of Amgen in a research note on Wednesday, February 5th. Piper Sandler Companies reissued an "overweight" rating and issued a $310.00 price objective on shares of Amgen in a report on Thursday, January 2nd. Piper Sandler raised their target price on Amgen from $310.00 to $329.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Finally, Morgan Stanley upped their price objective on Amgen from $328.00 to $330.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 9th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Amgen currently has a consensus rating of "Hold" and an average price target of $310.57.

Amgen Price Performance

AMGN traded up $1.94 on Thursday, reaching $279.84. 2,259,859 shares of the company's stock were exchanged, compared to its average volume of 2,789,386. 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 $150.46 billion, a PE ratio of 37.06, a P/E/G ratio of 2.63 and a beta of 0.59. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. The stock's fifty day moving average price is $301.98 and its 200-day moving average price is $293.34.

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 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 year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders 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 dividend yield of 3.40%. The ex-dividend date of this dividend is Friday, May 16th. Amgen's payout ratio is presently 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.