Core Alternative Capital Sells 1,796 Shares of Amgen Inc. (NASDAQ:AMGN)

Core Alternative Capital reduced its position in shares of Amgen Inc. (NASDAQ:AMGN) by 16.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,138 shares of the medical research company’s stock after selling 1,796 shares during the period. Core Alternative Capital’s holdings in Amgen were worth $2,382,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp boosted its position 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 valued at $9,446,236,000 after acquiring an additional 345,537 shares during the period. Geode Capital Management LLC boosted its holdings in Amgen by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 12,122,889 shares of the medical research company’s stock valued at $3,893,771,000 after purchasing an additional 103,851 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Amgen by 2.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,532,629 shares of the medical research company’s stock valued at $3,393,718,000 after purchasing an additional 251,876 shares during the period. Janus Henderson Group PLC grew its position in shares of Amgen by 11.7% during the 3rd quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock worth $1,657,183,000 after purchasing an additional 538,545 shares in the last quarter. Finally, Pathway Financial Advisers LLC increased its holdings in shares of 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 purchasing an additional 4,446,757 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AMGN. Sanford C. Bernstein assumed coverage on Amgen in a research report on Thursday, October 17th. They set an “outperform” rating and a $380.00 price target on the stock. Citigroup reduced their target price on Amgen from $310.00 to $295.00 and set a “neutral” rating on the stock in a report on Tuesday, January 28th. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $310.00 price target on shares of Amgen in a research note on Thursday, January 2nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $405.00 price objective on shares of Amgen in a research note on Tuesday, October 22nd. Finally, Redburn Partners dropped their target price on shares of Amgen from $200.00 to $195.00 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 given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Amgen presently has a consensus rating of “Hold” and a consensus price target of $314.09.

Amgen Stock Performance

NASDAQ:AMGN opened at $294.79 on Tuesday. The stock’s 50-day moving average is $272.26 and its 200-day moving average is $302.77. The stock has a market cap of $158.46 billion, a P/E ratio of 39.05, a price-to-earnings-growth ratio of 3.01 and a beta of 0.56. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The company has a current ratio of 1.26, a quick ratio of 0.96 and a debt-to-equity ratio of 9.62.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, beating the consensus estimate 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 anticipate that Amgen Inc. will post 20.59 earnings per share for the current year.

Amgen Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be issued a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a yield of 3.23%. Amgen’s payout ratio is presently 119.21%.

Insider Buying and Selling at Amgen

In related news, SVP Nancy A. Grygiel sold 1,589 shares of Amgen 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 transaction, the senior vice president now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jonathan P. Graham sold 25,045 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $293.12, for a total value of $7,341,190.40. Following the completion of the sale, the executive vice president now owns 28,987 shares in the company, valued at $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. Corporate insiders own 0.69% of the company’s stock.

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.