Amgen Inc. (NASDAQ:AMGN) Shares Sold by Truist Financial Corp

Truist Financial Corp reduced its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 648,395 shares of the medical research company's stock after selling 11,883 shares during the quarter. Truist Financial Corp owned about 0.12% of Amgen worth $168,998,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. State Street Corp lifted its stake in shares of Amgen by 1.2% in the third quarter. State Street Corp now owns 29,317,018 shares of the medical research company's stock worth $9,446,236,000 after acquiring an additional 345,537 shares during the period. Geode Capital Management LLC raised its position in shares of Amgen by 0.9% during the third quarter. Geode Capital Management LLC now owns 12,122,889 shares of the medical research company's stock worth $3,893,771,000 after purchasing an additional 103,851 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Amgen by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 10,532,629 shares of the medical research company's stock worth $3,393,718,000 after purchasing an additional 251,876 shares during the period. Janus Henderson Group PLC grew its holdings in Amgen by 11.7% during the third quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company's stock worth $1,657,183,000 after buying an additional 538,545 shares in the last quarter. Finally, Pathway Financial Advisers LLC grew its holdings in Amgen by 33,125.4% during the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company's stock worth $1,437,115,000 after buying an additional 4,446,757 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMGN has been the subject of several research reports. William Blair reiterated an "outperform" rating on shares of Amgen in a research note on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft cut their target price on Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. 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. Royal Bank of Canada reiterated an "outperform" rating and set a $324.00 price target on shares of Amgen in a research report on Friday, January 24th. Finally, Leerink Partners dropped their target price on Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $314.09.

Amgen Trading Up 1.2 %

NASDAQ:AMGN traded up $3.66 during trading hours on Thursday, reaching $297.93. 2,318,955 shares of the stock were exchanged, compared to its average volume of 3,120,625. 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 business has a 50-day moving average of $275.15 and a two-hundred day moving average of $300.77. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The company has a market capitalization of $160.05 billion, a price-to-earnings ratio of 39.46, a PEG ratio of 2.54 and a beta of 0.56.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS 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%. On average, equities analysts predict that Amgen Inc. will post 20.6 EPS for the current year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be given a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.20%. This is an increase from Amgen's previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. Amgen's dividend payout ratio (DPR) is presently 126.09%.

Insider Transactions at Amgen

In other Amgen news, EVP Murdo Gordon sold 8,771 shares of the company's stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 44,186 shares of the company's stock, valued at $13,025,590.94. This represents a 16.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jonathan P. Graham sold 25,045 shares of the company's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $293.12, for a total transaction of $7,341,190.40. Following the completion of the transaction, the executive vice president now directly owns 28,987 shares of the company's stock, valued at approximately $8,496,669.44. The trade was a 46.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,405 shares of company stock valued at $10,410,596 in the last ninety days. Corporate insiders own 0.69% of the company's stock.

Amgen 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.