Amgen Inc. (NASDAQ:AMGN) Shares Sold by Hobbs Group Advisors LLC

Hobbs Group Advisors LLC reduced its position in Amgen Inc. (NASDAQ:AMGN) by 9.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,298 shares of the medical research company’s stock after selling 131 shares during the quarter. Hobbs Group Advisors LLC’s holdings in Amgen were worth $338,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Centricity Wealth Management LLC acquired a new position in Amgen in the fourth quarter valued at $25,000. Legacy Investment Solutions LLC acquired a new position in Amgen in the 3rd quarter valued at about $29,000. Synergy Investment Management LLC purchased a new stake in Amgen during the 4th quarter valued at approximately $34,000. Atala Financial Inc acquired a new stake in Amgen during the 4th quarter worth approximately $34,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of Amgen in the 4th quarter valued at approximately $36,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Amgen

In other Amgen news, EVP Jonathan P. Graham sold 25,045 shares of Amgen stock in a transaction 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 transaction, the executive vice president now owns 28,987 shares in the company, valued at $8,496,669.44. This trade represents a 46.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total transaction of $483,802.83. Following the sale, the senior vice president now directly owns 7,210 shares of the company’s stock, valued at $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. Insiders sold 69,341 shares of company stock worth $20,644,335 in the last 90 days. 0.69% of the stock is owned by company insiders.

Amgen Stock Performance

NASDAQ AMGN opened at $306.95 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The stock has a market cap of $164.90 billion, a price-to-earnings ratio of 40.66, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The business has a fifty day moving average of $301.08 and a 200-day moving average of $298.38.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. As a group, analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be paid a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date is Friday, May 16th. Amgen’s payout ratio is 126.09%.

Analyst Ratings Changes

Several brokerages recently weighed in on AMGN. Citigroup reaffirmed a “neutral” rating on shares of Amgen in a report on Wednesday, February 5th. Johnson Rice set a $294.00 target price on shares of Amgen in a research note on Wednesday, March 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. 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, Piper Sandler lifted their price objective on Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $314.04.

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.