Silvercrest Asset Management Group LLC Reduces Holdings in Amgen Inc. (NASDAQ:AMGN)

Silvercrest Asset Management Group LLC lessened its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 46.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 118,703 shares of the medical research company's stock after selling 104,268 shares during the period. Silvercrest Asset Management Group LLC's holdings in Amgen were worth $30,939,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of AMGN. Rafferty Asset Management LLC grew its holdings in shares of Amgen by 13.3% during the 4th quarter. Rafferty Asset Management LLC now owns 158,852 shares of the medical research company's stock worth $41,403,000 after acquiring an additional 18,631 shares during the period. Raiffeisen Bank International AG purchased a new position in shares of Amgen during the 4th quarter worth approximately $20,955,000. Polar Asset Management Partners Inc. purchased a new position in shares of Amgen during the 4th quarter worth approximately $24,761,000. ProShare Advisors LLC grew its holdings in shares of Amgen by 23.7% during the 4th quarter. ProShare Advisors LLC now owns 854,473 shares of the medical research company's stock worth $222,710,000 after acquiring an additional 163,480 shares during the period. Finally, Prodigy Asset Management LLC purchased a new position in shares of Amgen during the 4th quarter worth approximately $268,000. Hedge funds and other institutional investors own 76.50% of the company's stock.

Amgen Stock Performance

Shares of Amgen stock traded up $3.44 on Monday, reaching $275.85. 2,189,369 shares of the stock were exchanged, compared to its average volume of 2,790,013. 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 Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The firm has a market capitalization of $148.33 billion, a price-to-earnings ratio of 36.54, a PEG ratio of 2.63 and a beta of 0.51. The business has a 50 day moving average price of $290.27 and a two-hundred day moving average price of $287.56.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, beating the consensus estimate of $4.18 by $0.72. The company 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% on a year-over-year basis. During the same period last year, the business earned $3.96 earnings per share. Analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be given a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.45%. The ex-dividend date is Friday, May 16th. Amgen's dividend payout ratio is currently 86.86%.

Insider Activity at Amgen

In other news, EVP David M. Reese sold 8,711 shares of the business'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 value of $2,554,239.42. Following the completion of the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.76% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

AMGN has been the topic of several recent research reports. Piper Sandler cut their price target on Amgen from $329.00 to $328.00 and set an "overweight" rating on the stock in a research note on Friday. UBS Group reaffirmed a "neutral" rating and set a $315.00 price objective (down from $319.00) on shares of Amgen in a research report on Friday, May 2nd. StockNews.com upgraded Amgen from a "buy" rating to a "strong-buy" rating in a research note on Sunday. Johnson Rice set a $294.00 target price on Amgen in a research report on Wednesday, March 5th. Finally, Mizuho raised their price target on Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $310.18.

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.