PDS Planning Inc Sells 53 Shares of Amgen Inc. (NASDAQ:AMGN)

PDS Planning Inc trimmed its stake in Amgen Inc. (NASDAQ:AMGN) by 2.3% in the fourth quarter, Holdings Channel reports. The firm owned 2,296 shares of the medical research company’s stock after selling 53 shares during the quarter. PDS Planning Inc’s holdings in Amgen were worth $598,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its position in shares of Amgen by 25.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company’s stock valued at $3,441,909,000 after buying an additional 2,672,975 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Amgen in the fourth quarter valued at approximately $401,913,000. Van ECK Associates Corp lifted its position in shares of Amgen by 263.8% in the fourth quarter. Van ECK Associates Corp now owns 1,038,593 shares of the medical research company’s stock valued at $270,699,000 after buying an additional 753,147 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Amgen by 40.7% in the fourth quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company’s stock valued at $609,526,000 after buying an additional 676,598 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of Amgen by 11.7% in the third quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock valued at $1,657,183,000 after buying an additional 538,545 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AMGN. Leerink Partners cut their price objective on Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft dropped their price target on Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. Johnson Rice set a $294.00 price target on Amgen in a report on Wednesday, March 5th. Piper Sandler Companies reissued an “overweight” rating and set a $310.00 price target on shares of Amgen in a report on Thursday, January 2nd. Finally, Wells Fargo & Company reissued an “equal weight” rating on shares of Amgen in a report on Wednesday, February 5th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $314.04.

Insider Activity

In related news, EVP David M. Reese sold 8,711 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $293.22, for a total transaction of $2,554,239.42. Following the sale, the executive vice president now owns 62,147 shares in the company, valued at $18,222,743.34. The trade was a 12.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Nancy A. Grygiel sold 1,589 shares of the business’s 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 in the company, valued at $2,195,228.70. This represents a 18.06 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 69,341 shares of company stock worth $20,644,335. Insiders own 0.69% of the company’s stock.

Amgen Trading Up 0.5 %

Shares of AMGN opened at $318.65 on Wednesday. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The business’s fifty day moving average is $294.12 and its 200-day moving average is $298.91. 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 firm has a market cap of $171.18 billion, a price-to-earnings ratio of 42.21, a PEG 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, 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%. Equities analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The firm 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 $2.38 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 annualized dividend and a dividend yield of 2.99%. 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.