Amgen Inc. (NASDAQ:AMGN) Shares Sold by Bridges Investment Management Inc.

Bridges Investment Management Inc. lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 0.8% during the fourth quarter, Holdings Channel reports. The fund owned 92,828 shares of the medical research company’s stock after selling 714 shares during the quarter. Bridges Investment Management Inc.’s holdings in Amgen were worth $24,195,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in shares of Amgen during the 3rd quarter worth about $25,000. Centricity Wealth Management LLC acquired a new stake in Amgen during the fourth quarter worth approximately $25,000. Legacy Investment Solutions LLC purchased a new stake in Amgen in the 3rd quarter worth approximately $29,000. Heck Capital Advisors LLC purchased a new stake in Amgen in the 4th quarter worth approximately $36,000. Finally, PrairieView Partners LLC raised its holdings in Amgen by 118.3% in the 4th quarter. PrairieView Partners LLC now owns 179 shares of the medical research company’s stock valued at $46,000 after acquiring an additional 97 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AMGN. Redburn Partners decreased their price objective on Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Citigroup reissued a “neutral” rating on shares of Amgen in a research note on Wednesday, February 5th. Bank of America upped their price objective on shares of Amgen from $256.00 to $275.00 and gave the company an “underperform” rating in a research note on Thursday, February 6th. Truist Financial decreased their target price on shares of Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Amgen has an average rating of “Hold” and an average price target of $314.09.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $308.06 on Friday. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The company has a market capitalization of $165.49 billion, a price-to-earnings ratio of 40.80, a PEG ratio of 2.63 and a beta of 0.56. The business has a 50-day moving average of $280.87 and a 200-day moving average of $299.99.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, topping analysts’ consensus estimates of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. On average, equities analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be paid a dividend of $2.38 per share. This is an increase from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. This represents a $9.52 annualized dividend and a yield of 3.09%. Amgen’s payout ratio is 126.09%.

Insiders Place Their Bets

In other news, SVP Nancy A. Grygiel sold 1,589 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total transaction of $483,802.83. Following the completion of the transaction, the senior vice president now directly owns 7,210 shares in the company, valued at approximately $2,195,228.70. This represents a 18.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jonathan P. Graham sold 25,045 shares of Amgen stock in a transaction on Friday, February 7th. The stock was sold at an average price of $293.12, for a total transaction of $7,341,190.40. Following the completion of the sale, the executive vice president now owns 28,987 shares of the company’s stock, valued at approximately $8,496,669.44. This trade represents a 46.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,341 shares of company stock worth $20,644,335 in the last quarter. 0.69% of the stock is owned by corporate insiders.

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.