Amgen Inc. (NASDAQ:AMGN) Position Trimmed by SevenBridge Financial Group LLC

SevenBridge Financial Group LLC reduced its holdings in Amgen Inc. (NASDAQ:AMGN) by 3.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 17,796 shares of the medical research company’s stock after selling 730 shares during the period. SevenBridge Financial Group LLC’s holdings in Amgen were worth $4,638,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Talbot Financial LLC grew its holdings in shares of Amgen by 5.6% during the fourth quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company’s stock valued at $11,153,000 after purchasing an additional 2,274 shares during the last quarter. Asset Advisors Investment Management LLC grew its stake in Amgen by 9.0% during the 3rd quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company’s stock worth $11,578,000 after buying an additional 2,954 shares during the last quarter. Principal Financial Group Inc. increased its position in Amgen by 6.0% in the third quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company’s stock worth $204,659,000 after buying an additional 35,785 shares during the period. Ascent Wealth Partners LLC boosted its holdings in shares of Amgen by 0.7% during the fourth quarter. Ascent Wealth Partners LLC now owns 9,024 shares of the medical research company’s stock valued at $2,352,000 after acquiring an additional 64 shares during the period. Finally, ICICI Prudential Asset Management Co Ltd boosted its holdings in shares of Amgen by 242.2% during 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 acquiring an additional 16,985 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Amgen

In other news, EVP Jonathan P. Graham sold 25,045 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $293.12, for a total transaction of $7,341,190.40. Following the transaction, the executive vice president now directly owns 28,987 shares in the company, valued at $8,496,669.44. The trade was a 46.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of the stock in a transaction 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 sale, the senior vice president now owns 7,210 shares of the company’s stock, valued at approximately $2,195,228.70. This represents a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,341 shares of company stock valued at $20,644,335. Corporate insiders own 0.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AMGN. UBS Group reiterated a “hold” rating on shares of Amgen in a research report on Wednesday, February 12th. Piper Sandler Companies reiterated an “overweight” rating and set a $310.00 price objective on shares of Amgen in a research report on Thursday, January 2nd. Bank of America lifted their target price on Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a research note on Wednesday, March 5th. Johnson Rice set a $294.00 price target on Amgen in a research note on Wednesday, March 5th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $324.00 price objective on shares of Amgen in a research note on Friday, January 24th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $314.04.

Amgen Trading Down 1.5 %

Amgen stock opened at $306.92 on Wednesday. The company has a 50 day moving average price of $302.51 and a 200 day moving average price of $297.63. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The firm has a market capitalization of $164.88 billion, a price-to-earnings ratio of 40.65, a P/E/G ratio of 2.63 and a beta of 0.53.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, beating the consensus estimate of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. Research analysts forecast that Amgen Inc. will post 20.62 EPS 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 issued a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a dividend yield of 3.10%. The ex-dividend date is Friday, May 16th. Amgen’s dividend payout ratio is currently 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.