Amgen Inc. (NASDAQ:AMGN) Shares Sold by USS Investment Management Ltd

USS Investment Management Ltd lowered its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 133,603 shares of the medical research company's stock after selling 4,646 shares during the quarter. USS Investment Management Ltd's holdings in Amgen were worth $34,828,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Centricity Wealth Management LLC acquired a new position in shares of Amgen during the 4th quarter worth $25,000. Ritter Daniher Financial Advisory LLC DE raised its stake in shares of Amgen by 66.2% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock worth $33,000 after buying an additional 51 shares during the last quarter. Synergy Investment Management LLC acquired a new position in shares of Amgen during the 4th quarter worth $34,000. Atala Financial Inc acquired a new position in shares of Amgen during the 4th quarter worth $34,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of Amgen during the 4th quarter worth $36,000. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Stock Up 1.3%

NASDAQ AMGN opened at $275.85 on Tuesday. The stock has a market cap of $148.33 billion, a PE ratio of 36.54, a P/E/G ratio of 2.63 and a beta of 0.51. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The business has a 50 day moving average price of $290.27 and a two-hundred day moving average price of $287.56. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, topping analysts' consensus estimates of $4.18 by $0.72. The firm had revenue of $8.15 billion during the quarter, compared to analysts' expectations of $8.05 billion. Amgen had a return on equity of 176.32% and a net margin of 12.24%. Amgen's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.96 EPS. As a group, sell-side analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be given a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date is Friday, May 16th. Amgen's payout ratio is 86.86%.

Analyst Upgrades and Downgrades

AMGN has been the subject of several research reports. Piper Sandler cut their price target on Amgen from $329.00 to $328.00 and set an "overweight" rating for the company in a research note on Friday. Mizuho lifted their price objective on Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Royal Bank of Canada dropped their price objective on Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Citigroup reiterated a "neutral" rating on shares of Amgen in a research report on Wednesday, February 5th. Finally, UBS Group restated a "neutral" rating and set a $315.00 price objective (down previously from $319.00) on shares of Amgen in a report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $310.18.

Insider Buying and Selling at Amgen

In related news, EVP David M. Reese sold 8,711 shares of the company's stock in a transaction that occurred 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 directly owns 62,147 shares of the company's stock, valued at approximately $18,222,743.34. This represents a 12.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.76% of the stock is currently owned by corporate insiders.

About Amgen

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.

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