Pathstone Holdings LLC Decreases Holdings in Amgen Inc. (NASDAQ:AMGN)

Pathstone Holdings LLC decreased its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 6.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,325 shares of the medical research company's stock after selling 6,280 shares during the quarter. Pathstone Holdings LLC's holdings in Amgen were worth $24,070,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Mufg Securities Americas Inc. purchased a new position in shares of Amgen in the 4th quarter worth approximately $2,068,000. Malaga Cove Capital LLC increased its position in shares of Amgen by 4.4% during the 4th quarter. Malaga Cove Capital LLC now owns 15,739 shares of the medical research company's stock valued at $4,102,000 after purchasing an additional 661 shares during the last quarter. Nissay Asset Management Corp Japan ADV raised its stake in shares of Amgen by 5.6% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 121,718 shares of the medical research company's stock worth $31,969,000 after purchasing an additional 6,489 shares during the period. NorthRock Partners LLC boosted its holdings in shares of Amgen by 143.3% in the 4th quarter. NorthRock Partners LLC now owns 10,285 shares of the medical research company's stock worth $2,681,000 after buying an additional 6,057 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp grew its position in Amgen by 12.6% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 24,166 shares of the medical research company's stock valued at $6,299,000 after buying an additional 2,705 shares during the period. 76.50% of the stock is owned by institutional investors.

Amgen Trading Down 0.2%

Shares of NASDAQ AMGN traded down $0.68 during mid-day trading on Tuesday, reaching $275.17. 755,676 shares of the company's stock were exchanged, compared to its average volume of 3,135,777. The company's 50-day moving average is $290.27 and its 200-day moving average is $287.56. Amgen Inc. has a 52-week low of $253.30 and a 52-week 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 firm has a market capitalization of $147.96 billion, a price-to-earnings ratio of 36.45, a PEG ratio of 2.63 and a beta of 0.51.

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

Amgen Announces Dividend

The business also recently disclosed 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 yield of 3.46%. Amgen's dividend payout ratio is presently 86.86%.

Insider Buying and Selling

In other news, EVP David M. Reese sold 25,225 shares of the firm's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $304.44, for a total value of $7,679,499.00. Following the completion of the sale, the executive vice president now owns 36,922 shares in the company, valued at approximately $11,240,533.68. This trade represents a 40.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.76% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Johnson Rice set a $294.00 price objective on Amgen in a research note on Wednesday, March 5th. Wells Fargo & Company reiterated an "equal weight" rating on shares of Amgen in a research report on Wednesday, February 5th. Bank of America upped their target price on shares of Amgen from $275.00 to $294.00 and gave the stock an "underperform" rating in a research report on Wednesday, March 5th. Piper Sandler reduced their target price on shares of Amgen from $329.00 to $328.00 and set an "overweight" rating on the stock in a report on Friday. Finally, Royal Bank of Canada lowered their price target 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 equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $309.22.

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.