Front Row Advisors LLC Sells 74 Shares of Amgen Inc. (NASDAQ:AMGN)

Front Row Advisors LLC lowered its stake in Amgen Inc. (NASDAQ:AMGN) by 0.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 9,267 shares of the medical research company’s stock after selling 74 shares during the period. Front Row Advisors LLC’s holdings in Amgen were worth $2,415,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the company. Talbot Financial LLC lifted its stake in Amgen by 5.6% during the fourth quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company’s stock worth $11,153,000 after purchasing an additional 2,274 shares during the last quarter. Asset Advisors Investment Management LLC boosted its holdings in Amgen by 9.0% in the third quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company’s stock valued at $11,578,000 after acquiring an additional 2,954 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Amgen by 6.0% during the 3rd quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company’s stock worth $204,659,000 after acquiring an additional 35,785 shares during the period. Ascent Wealth Partners LLC grew its position in shares of Amgen by 0.7% during the 4th quarter. Ascent Wealth Partners LLC now owns 9,024 shares of the medical research company’s stock worth $2,352,000 after buying an additional 64 shares during the period. Finally, ICICI Prudential Asset Management Co Ltd increased its stake in Amgen by 242.2% in the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 23,999 shares of the medical research company’s stock valued at $6,255,000 after purchasing an additional 16,985 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Insider Buying and Selling at Amgen

In related news, SVP Nancy A. Grygiel sold 1,589 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total value of $483,802.83. Following the completion of the sale, the senior vice president now directly owns 7,210 shares of the company’s stock, valued at $2,195,228.70. This represents a 18.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jonathan P. Graham sold 25,045 shares of the business’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 of the company’s stock, valued at approximately $8,496,669.44. This represents a 46.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 69,341 shares of company stock worth $20,644,335 over the last 90 days. Corporate insiders own 0.69% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AMGN. Truist Financial reduced their price target 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. Piper Sandler boosted their price objective on Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Citigroup reaffirmed a “neutral” rating on shares of Amgen in a report on Wednesday, February 5th. StockNews.com upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, Piper Sandler Companies reaffirmed an “overweight” rating and issued a $310.00 price target on shares of Amgen in a report on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Amgen has a consensus rating of “Moderate Buy” and an average price target of $314.04.

Amgen Stock Up 1.5 %

NASDAQ AMGN opened at $311.55 on Tuesday. The business’s fifty day simple moving average is $301.87 and its 200-day simple moving average is $297.81. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. 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 firm has a market cap of $167.37 billion, a PE ratio of 41.26, a P/E/G ratio of 2.63 and a beta of 0.53.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, topping 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%. As a group, equities analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be given a $2.38 dividend. The ex-dividend date is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a yield of 3.06%. Amgen’s dividend payout ratio (DPR) is presently 126.09%.

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.