PGGM Investments Sells 7,414 Shares of Amgen Inc. (NASDAQ:AMGN)

PGGM Investments lessened its position in Amgen Inc. (NASDAQ:AMGNFree Report) by 44.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,417 shares of the medical research company’s stock after selling 7,414 shares during the period. PGGM Investments’ holdings in Amgen were worth $2,531,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Morgan Stanley grew its holdings in Amgen by 12.9% in the 4th quarter. Morgan Stanley now owns 13,301,365 shares of the medical research company’s stock worth $3,493,471,000 after acquiring an additional 1,523,665 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Amgen by 3.2% in the 2nd quarter. Geode Capital Management LLC now owns 11,799,183 shares of the medical research company’s stock worth $2,613,646,000 after purchasing an additional 368,924 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Amgen by 4.5% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 11,241,858 shares of the medical research company’s stock worth $2,495,917,000 after purchasing an additional 480,421 shares during the period. Moneta Group Investment Advisors LLC lifted its position in shares of Amgen by 83,875.6% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,541,011 shares of the medical research company’s stock worth $1,980,571,000 after purchasing an additional 7,532,031 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of Amgen by 1.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 5,437,182 shares of the medical research company’s stock worth $1,461,297,000 after purchasing an additional 61,528 shares during the period. Institutional investors own 74.44% of the company’s stock.

Amgen Stock Performance

Shares of AMGN stock opened at $323.19 on Monday. The company has a 50 day moving average price of $291.67 and a 200-day moving average price of $272.31. Amgen Inc. has a 52 week low of $211.71 and a 52 week high of $325.77. The firm has a market capitalization of $172.96 billion, a PE ratio of 22.97, a P/E/G ratio of 2.88 and a beta of 0.62. The company has a quick ratio of 2.56, a current ratio of 2.86 and a debt-to-equity ratio of 7.71.

Amgen Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 7th. Investors of record on Friday, February 16th will be given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.78%. This is a positive change from Amgen’s previous quarterly dividend of $2.13. The ex-dividend date is Thursday, February 15th. Amgen’s payout ratio is 60.55%.

Insider Activity at Amgen

In related news, EVP Jonathan P. Graham sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $272.81, for a total transaction of $2,728,100.00. Following the completion of the sale, the executive vice president now directly owns 28,078 shares in the company, valued at $7,659,959.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Jonathan P. Graham sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $272.81, for a total transaction of $2,728,100.00. Following the completion of the sale, the executive vice president now directly owns 28,078 shares in the company, valued at $7,659,959.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Nancy A. Grygiel sold 2,096 shares of Amgen stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $273.03, for a total transaction of $572,270.88. Following the transaction, the senior vice president now directly owns 10,874 shares in the company, valued at approximately $2,968,928.22. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently commented on AMGN. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $270.00 target price on shares of Amgen in a research report on Friday, October 20th. Deutsche Bank Aktiengesellschaft started coverage on shares of Amgen in a research report on Thursday, November 9th. They set a “hold” rating and a $240.00 price target for the company. Jefferies Financial Group reissued a “buy” rating and set a $310.00 price target on shares of Amgen in a research report on Thursday, October 12th. Oppenheimer reissued an “outperform” rating and set a $350.00 price target on shares of Amgen in a research report on Thursday. Finally, Truist Financial reissued a “buy” rating and set a $320.00 price target on shares of Amgen in a research report on Wednesday, November 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $291.58.

Read Our Latest Analysis on AMGN

Amgen Company Profile

(Free Report)

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.

Further Reading

Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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