Global Assets Advisory LLC Lowers Position in Amgen Inc. (NASDAQ:AMGN)

Global Assets Advisory LLC reduced its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 58.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,072 shares of the medical research company's stock after selling 1,523 shares during the period. Global Assets Advisory LLC's holdings in Amgen were worth $278,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Centricity Wealth Management LLC purchased a new position in shares of Amgen during the 4th quarter worth approximately $25,000. Ritter Daniher Financial Advisory LLC DE boosted its position in shares of Amgen by 66.2% during the fourth 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 period. Synergy Investment Management LLC acquired a new stake in shares of Amgen in the fourth quarter valued at $34,000. Atala Financial Inc purchased a new stake in shares of Amgen in the 4th quarter valued at $34,000. Finally, Heck Capital Advisors LLC acquired a new position in Amgen during the 4th quarter worth about $36,000. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Stock Down 2.3 %

AMGN opened at $265.86 on Friday. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. The stock has a market capitalization of $142.94 billion, a P/E ratio of 35.21, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. The business's 50-day simple moving average is $296.08 and its 200-day simple moving average is $289.86.

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

Amgen Announces Dividend

The business also recently announced 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. The ex-dividend date is Friday, May 16th. This represents a $9.52 annualized dividend and a dividend yield of 3.58%. Amgen's dividend payout ratio (DPR) is currently 86.86%.

Insider Transactions at Amgen

In other news, EVP David M. Reese sold 8,711 shares of the business's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $293.22, for a total transaction of $2,554,239.42. Following the transaction, the executive vice president now directly owns 62,147 shares in the company, valued at $18,222,743.34. The trade was a 12.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Murdo Gordon sold 8,771 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $294.79, for a total transaction of $2,585,603.09. Following the transaction, the executive vice president now directly owns 44,186 shares of the company's stock, valued at $13,025,590.94. This represents a 16.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,707 shares of company stock worth $12,819,342 over the last 90 days. 0.69% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on AMGN shares. Mizuho boosted their price target on shares of Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a research note on Wednesday. Royal Bank of Canada cut their target price on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Cantor Fitzgerald assumed coverage on shares of Amgen in a research report on Tuesday, April 22nd. They issued a "neutral" rating and a $305.00 price target for the company. Piper Sandler upped their price objective on Amgen from $310.00 to $329.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. Finally, Bank of America increased their price objective on Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a research note on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $310.23.

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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