Corebridge Financial Inc. Has $42.31 Million Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Corebridge Financial Inc. decreased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 1.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 162,348 shares of the medical research company’s stock after selling 2,198 shares during the period. Corebridge Financial Inc.’s holdings in Amgen were worth $42,314,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Swedbank AB raised its position in Amgen by 1.1% in the 3rd quarter. Swedbank AB now owns 538,899 shares of the medical research company’s stock worth $173,639,000 after purchasing an additional 5,751 shares during the last quarter. Icon Wealth Advisors LLC raised its position in shares of 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 worth $56,000 after acquiring an additional 169,748 shares during the last quarter. Great Valley Advisor Group Inc. lifted its stake in shares of 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 acquiring an additional 10,136 shares during the period. Truepoint Inc. bought a new position in Amgen in the third quarter valued at about $207,000. Finally, WESPAC Advisors LLC increased its position in Amgen by 30.8% in the third quarter. WESPAC Advisors LLC now owns 4,181 shares of the medical research company’s stock worth $1,347,000 after purchasing an additional 985 shares during the period. Institutional investors own 76.50% of the company’s stock.

Insider Transactions at Amgen

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AMGN. Leerink Partners cut their target price on shares of Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Johnson Rice set a $294.00 price objective on shares of Amgen in a report on Wednesday, March 5th. StockNews.com lowered shares of Amgen from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. Piper Sandler upped their target price on shares of Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Finally, UBS Group restated a “hold” rating on shares of Amgen in a research report on Wednesday, February 12th. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, Amgen has a consensus rating of “Hold” and a consensus price target of $314.04.

Amgen Trading Up 0.3 %

AMGN opened at $316.04 on Monday. The stock has a market capitalization of $169.78 billion, a P/E ratio of 41.86, a P/E/G ratio of 2.63 and a beta of 0.53. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The firm’s fifty day simple moving average is $297.24 and its 200 day simple moving average is $298.57.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, beating analysts’ consensus estimates of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. As a group, research analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be issued a $2.38 dividend. The ex-dividend date is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.01%. Amgen’s dividend payout ratio (DPR) is presently 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.