Amgen Inc. (NASDAQ:AMGN) Stock Holdings Cut by Freedom Day Solutions LLC

Freedom Day Solutions LLC reduced its position in shares of Amgen Inc. (NASDAQ:AMGN) by 23.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,221 shares of the medical research company’s stock after selling 381 shares during the quarter. Freedom Day Solutions LLC’s holdings in Amgen were worth $318,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AMGN. Pathway Financial Advisers LLC boosted its stake in Amgen by 33,125.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after purchasing an additional 4,446,757 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Amgen by 6,812.4% during the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock valued at $8,130,610,000 after acquiring an additional 2,486,882 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Amgen by 561.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock valued at $496,117,000 after acquiring an additional 1,306,982 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Amgen by 263.8% during the 4th quarter. Van ECK Associates Corp now owns 1,038,593 shares of the medical research company’s stock valued at $270,699,000 after acquiring an additional 753,147 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of Amgen by 40.7% during the 4th quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company’s stock valued at $609,526,000 after acquiring an additional 676,598 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Amgen Stock Performance

Shares of NASDAQ AMGN opened at $294.27 on Thursday. The business has a fifty day simple moving average of $275.15 and a 200 day simple moving average of $300.77. 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 $158.18 billion, a price-to-earnings ratio of 38.98, a PEG ratio of 2.53 and a beta of 0.56. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85.

Amgen (NASDAQ:AMGN) last issued its 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%. Sell-side analysts expect that Amgen Inc. will post 20.6 EPS for the current year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be given a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.24%. This is a boost from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s dividend payout ratio is 126.09%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AMGN. Deutsche Bank Aktiengesellschaft cut their price objective on Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Bank of America increased their price objective on Amgen from $256.00 to $275.00 and gave the company an “underperform” rating in a research report on Thursday, February 6th. Citigroup reduced their target price on Amgen from $310.00 to $295.00 and set a “neutral” rating for the company in a report on Tuesday, January 28th. Truist Financial reduced their target price on Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Finally, UBS Group reduced their target price on Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Amgen currently has a consensus rating of “Hold” and a consensus target price of $314.09.

Insider Buying and Selling at Amgen

In other news, EVP Jonathan P. Graham sold 25,045 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $293.12, for a total transaction of $7,341,190.40. Following the sale, the executive vice president now owns 28,987 shares in the company, valued at approximately $8,496,669.44. This represents a 46.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 in the company, valued at $2,195,228.70. The trade was a 18.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,405 shares of company stock worth $10,410,596 over the last three months. Company insiders own 0.69% of the company’s stock.

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.