Angeles Investment Advisors LLC Decreases Position in Amgen Inc. (NASDAQ:AMGN)

Angeles Investment Advisors LLC cut its position in Amgen Inc. (NASDAQ:AMGN) by 4.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 2,095 shares of the medical research company’s stock after selling 102 shares during the quarter. Angeles Investment Advisors LLC’s holdings in Amgen were worth $546,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Swedbank AB grew its position in Amgen by 1.1% during the third quarter. Swedbank AB now owns 538,899 shares of the medical research company’s stock valued at $173,639,000 after buying an additional 5,751 shares during the period. Icon Wealth Advisors LLC grew its position in Amgen by 3,955.0% during the third quarter. Icon Wealth Advisors LLC now owns 174,040 shares of the medical research company’s stock valued at $56,000 after buying an additional 169,748 shares during the period. Great Valley Advisor Group Inc. grew its position in Amgen by 130.4% during the third quarter. Great Valley Advisor Group Inc. now owns 17,908 shares of the medical research company’s stock valued at $5,770,000 after buying an additional 10,136 shares during the period. Truepoint Inc. bought a new stake in Amgen during the third quarter valued at approximately $207,000. Finally, WESPAC Advisors LLC grew its position in Amgen by 30.8% during the third quarter. WESPAC Advisors LLC now owns 4,181 shares of the medical research company’s stock valued at $1,347,000 after buying an additional 985 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 1,589 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total transaction of $483,802.83. Following the sale, the senior vice president now owns 7,210 shares of the company’s stock, valued at $2,195,228.70. This represents a 18.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP David M. Reese sold 25,225 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the sale, the executive vice president now directly owns 36,922 shares in the company, valued at approximately $11,240,533.68. The trade was a 40.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have 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 corporate insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Truist Financial cut their target price on shares of Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Redburn Partners cut their target price on shares of Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Piper Sandler Companies reiterated an “overweight” rating and issued a $310.00 price target on shares of Amgen in a research report on Thursday, January 2nd. StockNews.com lowered shares of Amgen from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $314.04.

Amgen Price Performance

AMGN stock opened at $316.04 on Monday. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The company’s fifty day moving average price is $297.24 and its 200-day moving average price is $298.57. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. The company has a market capitalization of $169.78 billion, a PE ratio of 41.86, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53.

Amgen (NASDAQ:AMGN) last released its quarterly 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%. On average, equities analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date is Friday, May 16th. Amgen’s payout ratio is 126.09%.

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.