Coldstream Capital Management Inc. Decreases Stake in Amgen Inc. (NASDAQ:AMGN)

Coldstream Capital Management Inc. lessened its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 42.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,472 shares of the medical research company's stock after selling 12,174 shares during the quarter. Coldstream Capital Management Inc.'s holdings in Amgen were worth $4,293,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in AMGN. Talbot Financial LLC lifted its holdings in shares of Amgen by 5.6% in the 4th quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company's stock worth $11,153,000 after buying an additional 2,274 shares during the period. Asset Advisors Investment Management LLC grew its holdings in Amgen by 9.0% during the 3rd quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company's stock worth $11,578,000 after acquiring an additional 2,954 shares in the last quarter. Ascent Wealth Partners LLC grew its holdings in Amgen by 0.7% during the 4th quarter. Ascent Wealth Partners LLC now owns 9,024 shares of the medical research company's stock worth $2,352,000 after acquiring an additional 64 shares in the last quarter. Principal Financial Group Inc. increased its position in Amgen by 6.0% during the 3rd quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company's stock valued at $204,659,000 after purchasing an additional 35,785 shares during the period. Finally, ICICI Prudential Asset Management Co Ltd raised its holdings in shares of Amgen by 242.2% in the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 23,999 shares of the medical research company's stock valued at $6,255,000 after purchasing an additional 16,985 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on AMGN shares. Citigroup reiterated a "neutral" rating on shares of Amgen in a research note on Wednesday, February 5th. Piper Sandler increased their target price on Amgen from $310.00 to $329.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. Bank of America boosted their price target on Amgen from $275.00 to $294.00 and gave the stock an "underperform" rating in a research report on Wednesday, March 5th. Piper Sandler Companies restated an "overweight" rating and set a $310.00 price objective on shares of Amgen in a research note on Thursday, January 2nd. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $324.00 target price on shares of Amgen in a report on Friday, January 24th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Amgen currently has a consensus rating of "Hold" and an average target price of $310.57.

Insider Transactions at Amgen

In related news, EVP Jonathan P. Graham sold 25,045 shares of the business's 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 completion of the sale, the executive vice president now owns 28,987 shares of the company's stock, valued at approximately $8,496,669.44. The trade was a 46.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David M. Reese sold 25,225 shares of the company's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the transaction, the executive vice president now owns 36,922 shares of the company's stock, valued at approximately $11,240,533.68. This trade represents a 40.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,341 shares of company stock valued at $20,644,335 in the last ninety days. 0.69% of the stock is currently owned by corporate insiders.

Amgen Stock Performance

NASDAQ:AMGN traded up $2.36 during mid-day trading on Wednesday, hitting $290.92. The company's stock had a trading volume of 2,608,006 shares, compared to its average volume of 2,785,950. The business's fifty day moving average is $301.10 and its two-hundred day moving average is $292.08. The stock has a market cap of $156.41 billion, a price-to-earnings ratio of 38.53, a PEG ratio of 2.63 and a beta of 0.59. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share 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%. Analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently announced 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 3.27%. The ex-dividend date of this dividend is Friday, May 16th. Amgen's payout ratio is currently 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.