Global Retirement Partners LLC Lowers Holdings in Amgen Inc. (NASDAQ:AMGN)

Global Retirement Partners LLC lowered its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 0.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,764 shares of the medical research company’s stock after selling 122 shares during the quarter. Global Retirement Partners LLC’s holdings in Amgen were worth $3,588,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Lansing Street Advisors boosted its holdings in Amgen by 1.3% in the third quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock valued at $832,000 after purchasing an additional 32 shares during the period. Unionview LLC lifted its holdings in Amgen by 3.8% during the 3rd quarter. Unionview LLC now owns 876 shares of the medical research company’s stock worth $282,000 after buying an additional 32 shares during the last quarter. AM Investment Strategies LLC lifted its holdings in Amgen by 0.4% during the 3rd quarter. AM Investment Strategies LLC now owns 7,471 shares of the medical research company’s stock worth $2,407,000 after buying an additional 33 shares during the last quarter. Avidian Wealth Enterprises LLC lifted its holdings in Amgen by 0.6% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 5,863 shares of the medical research company’s stock worth $1,889,000 after buying an additional 33 shares during the last quarter. Finally, Beacon Financial Advisory LLC lifted its holdings in Amgen by 4.6% during the 3rd quarter. Beacon Financial Advisory LLC now owns 769 shares of the medical research company’s stock worth $248,000 after buying an additional 34 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insider Transactions at Amgen

In other news, SVP Nancy A. Grygiel sold 1,589 shares of the business’s 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 sale, the senior vice president now owns 7,210 shares of the company’s stock, valued at $2,195,228.70. The trade was a 18.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jonathan P. Graham sold 25,045 shares of the company’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 directly owns 28,987 shares in the company, valued at approximately $8,496,669.44. The trade was a 46.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,405 shares of company stock valued at $10,410,596 in the last quarter. 0.69% of the stock is currently owned by corporate insiders.

Amgen Price Performance

Shares of AMGN opened at $294.27 on Thursday. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The stock’s 50 day moving average is $275.15 and its two-hundred day moving average is $300.77. The firm has a market capitalization of $158.18 billion, a PE ratio of 38.98, a P/E/G ratio of 2.53 and a beta of 0.56. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share 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%. Research analysts anticipate that Amgen Inc. will post 20.6 earnings per share for the current year.

Amgen Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be paid a dividend of $2.38 per share. This is a positive change from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 annualized dividend and a dividend yield of 3.24%. Amgen’s payout ratio is 126.09%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Redburn Partners decreased their price target on Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Truist Financial decreased their price target on Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Bank of America lifted their price target on Amgen from $256.00 to $275.00 and gave the stock an “underperform” rating in a report on Thursday, February 6th. William Blair reiterated an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $324.00 target price on shares of Amgen in a research report on Friday, January 24th. Two 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $314.09.

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.