Dearborn Partners LLC Sells 1,639 Shares of Amgen Inc. (NASDAQ:AMGN)

Key Points

• Dearborn Partners LLC reduced its holdings in Amgen Inc. by 43.8% in Q1, now owning shares valued at $654,000 after selling 1,639 shares.
• Institutional investors collectively own 76.50% of Amgen's stock, with notable increases in holdings from Arkadios Wealth Advisors and Harvest Fund Management.
• Amgen's stock has experienced a 0.7% decline, with a current market price of $301.37, and the company reported earnings of $4.90 per share, exceeding estimates by $0.72.

Dearborn Partners LLC lowered its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 43.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,099 shares of the medical research company's stock after selling 1,639 shares during the period. Dearborn Partners LLC's holdings in Amgen were worth $654,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Pinney & Scofield Inc. purchased a new stake in shares of Amgen in the 4th quarter worth approximately $26,000. First Pacific Financial boosted its stake in Amgen by 304.5% during the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company's stock valued at $28,000 after purchasing an additional 67 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE boosted its stake in 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 valued at $33,000 after purchasing an additional 51 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in Amgen during the 4th quarter valued at $36,000. Finally, Legacy Investment Solutions LLC boosted its stake in Amgen by 46.9% during the 4th quarter. Legacy Investment Solutions LLC now owns 141 shares of the medical research company's stock valued at $37,000 after purchasing an additional 45 shares during the last quarter. Institutional investors own 76.50% of the company's stock.

Insider Transactions at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the sale, the senior vice president directly owned 8,162 shares of the company's stock, valued at approximately $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.76% of the stock is currently owned by company insiders.

Amgen Price Performance

Shares of Amgen stock traded up $1.78 during trading hours on Friday, hitting $296.88. The company's stock had a trading volume of 2,410,860 shares, compared to its average volume of 1,708,073. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $339.17. The business has a 50 day moving average price of $292.04 and a two-hundred day moving average price of $291.87. The company has a market cap of $159.64 billion, a PE ratio of 27.09, a PEG ratio of 2.55 and a beta of 0.49.

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

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be issued a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 3.2%. Amgen's dividend payout ratio (DPR) is currently 86.86%.

Wall Street Analysts Forecast Growth

AMGN has been the topic of several recent analyst reports. Bank of America increased their target price on Amgen from $252.00 to $261.00 and gave the company an "underperform" rating in a research note on Wednesday, July 23rd. Wall Street Zen upgraded Amgen from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 18th. William Blair reissued an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Erste Group Bank cut Amgen from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Finally, Royal Bank Of Canada lowered their price target on Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Amgen presently has an average rating of "Hold" and a consensus price target of $307.27.

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.