Amgen Inc. (NASDAQ:AMGN) Shares Sold by KCM Investment Advisors LLC

KCM Investment Advisors LLC reduced its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 91,086 shares of the medical research company’s stock after selling 356 shares during the quarter. KCM Investment Advisors LLC’s holdings in Amgen were worth $23,741,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new stake in Amgen during the 3rd quarter worth $29,000. Centricity Wealth Management LLC acquired a new position in Amgen in the fourth quarter valued at $25,000. Synergy Investment Management LLC purchased a new position in shares of Amgen during the fourth quarter worth about $34,000. Atala Financial Inc acquired a new stake in shares of Amgen during the fourth quarter worth about $34,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of Amgen in the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insider Buying and Selling

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 transaction of $483,802.83. Following the completion of the transaction, the senior vice president now directly owns 7,210 shares in the company, valued at $2,195,228.70. The trade was a 18.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP David M. Reese sold 25,225 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $304.44, for a total value of $7,679,499.00. Following the completion of 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 69,341 shares of company stock worth $20,644,335 in the last three months. Corporate insiders own 0.69% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on AMGN. Johnson Rice set a $294.00 price target on Amgen in a research note on Wednesday, March 5th. Piper Sandler Companies restated an “overweight” rating and set a $310.00 target price on shares of Amgen in a research report on Thursday, January 2nd. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Amgen in a report on Wednesday, February 5th. Royal Bank of Canada reiterated an “outperform” rating and set a $324.00 price target on shares of Amgen in a research note on Friday, January 24th. Finally, UBS Group restated a “hold” rating on shares of Amgen in a research note on Wednesday, February 12th. Two research 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $314.04.

Amgen Trading Down 5.0 %

Shares of AMGN opened at $294.39 on Friday. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The firm has a market capitalization of $158.15 billion, a P/E ratio of 38.99, a PEG ratio of 2.63 and a beta of 0.53. The firm’s 50-day moving average is $304.18 and its two-hundred day moving average is $297.49.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, topping 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%. On average, research analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be paid a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend is Friday, May 16th. 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.