Blair William & Co. IL Decreases Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Key Points

• Blair William & Co. IL reduced its Amgen Inc. holdings by 6.7%, owning 166,618 shares valued at approximately $51.9 million after selling 11,978 shares in the first quarter.
• Various hedge funds adjusted their positions in Amgen, with Liberty Wealth Management LLC increasing its holdings substantially by 551.9% during the same period.
• Amgen recently declared a quarterly dividend of $2.38 per share, indicating a 3.2% dividend yield with an annualized payout of $9.52.

Blair William & Co. IL lowered its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 6.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 166,618 shares of the medical research company's stock after selling 11,978 shares during the quarter. Blair William & Co. IL's holdings in Amgen were worth $51,910,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Argent Trust Co increased its position in shares of Amgen by 4.4% during the 1st quarter. Argent Trust Co now owns 26,114 shares of the medical research company's stock valued at $8,136,000 after purchasing an additional 1,097 shares during the last quarter. Manchester Capital Management LLC increased its holdings in Amgen by 1.5% in the 1st quarter. Manchester Capital Management LLC now owns 6,501 shares of the medical research company's stock worth $2,025,000 after acquiring an additional 95 shares in the last quarter. Liberty Wealth Management LLC increased its holdings in Amgen by 551.9% in the 1st quarter. Liberty Wealth Management LLC now owns 16,592 shares of the medical research company's stock worth $5,169,000 after acquiring an additional 14,047 shares in the last quarter. DCF Advisers LLC increased its holdings in Amgen by 17.2% in the 1st quarter. DCF Advisers LLC now owns 6,825 shares of the medical research company's stock worth $2,126,000 after acquiring an additional 1,000 shares in the last quarter. Finally, J. Safra Sarasin Holding AG increased its holdings in Amgen by 0.6% in the 1st quarter. J. Safra Sarasin Holding AG now owns 246,355 shares of the medical research company's stock worth $76,752,000 after acquiring an additional 1,478 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Insider Activity at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the transaction, the senior vice president owned 8,162 shares in the company, valued at approximately $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.69% of the company's stock.

Analysts Set New Price Targets

AMGN has been the subject of several analyst reports. Piper Sandler reissued an "overweight" rating and issued a $328.00 target price on shares of Amgen in a report on Friday, June 27th. Erste Group Bank lowered shares of Amgen from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Wall Street Zen raised shares of Amgen from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 18th. William Blair reissued an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Finally, Royal Bank Of Canada reduced their target price on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $307.27.

Amgen Stock Performance

AMGN stock opened at $296.88 on Monday. The company has a quick ratio of 0.88, a current ratio of 1.17 and a debt-to-equity ratio of 8.70. The business's fifty day simple moving average is $292.04 and its two-hundred day simple moving average is $292.19. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $339.17. The firm has a market cap of $159.64 billion, a price-to-earnings ratio of 27.09, a PEG ratio of 2.57 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, beating the consensus estimate of $4.18 by $0.72. The firm had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The business's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the firm posted $3.96 earnings per share. Analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be paid a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a dividend yield of 3.2%. Amgen's dividend payout ratio is currently 86.86%.

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.

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