Amgen Inc. (NASDAQ:AMGN) Shares Sold by Alpine Woods Capital Investors LLC

Alpine Woods Capital Investors LLC cut its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 10.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,471 shares of the medical research company’s stock after selling 3,561 shares during the period. Amgen accounts for approximately 1.5% of Alpine Woods Capital Investors LLC’s investment portfolio, making the stock its 15th biggest holding. Alpine Woods Capital Investors LLC’s holdings in Amgen were worth $7,681,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in AMGN. Centricity Wealth Management LLC purchased a new position in Amgen in the 4th quarter worth $25,000. Legacy Investment Solutions LLC purchased a new position in Amgen in the 3rd quarter worth $29,000. Synergy Investment Management LLC purchased a new position in Amgen in the 4th quarter worth $34,000. Atala Financial Inc purchased a new position in Amgen in the 4th quarter worth $34,000. Finally, Heck Capital Advisors LLC purchased a new position in Amgen in the 4th quarter worth $36,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AMGN. Redburn Partners reduced their target price on Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Piper Sandler raised their target price on Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Wells Fargo & Company restated an “equal weight” rating on shares of Amgen in a research note on Wednesday, February 5th. Bank of America increased their price target on Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a research report on Wednesday, March 5th. Finally, StockNews.com downgraded Amgen from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $314.04.

Amgen Trading Up 0.0 %

AMGN opened at $312.64 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. The company’s 50 day simple moving average is $290.77 and its two-hundred day simple moving average is $299.61. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The firm has a market capitalization of $167.95 billion, a price-to-earnings ratio of 41.41, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, beating the consensus estimate of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. Analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders 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 dividend yield of 3.05%. The ex-dividend date is Friday, May 16th. Amgen’s payout ratio is presently 126.09%.

Insider Activity

In other Amgen news, EVP Jonathan P. Graham sold 25,045 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $293.12, for a total value of $7,341,190.40. Following the sale, the executive vice president now owns 28,987 shares of the company’s stock, valued at $8,496,669.44. The trade was a 46.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total value of $483,802.83. Following the completion of the sale, the senior vice president now directly owns 7,210 shares in the company, valued at approximately $2,195,228.70. The trade was a 18.06 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,341 shares of company stock valued at $20,644,335. 0.69% of the stock is currently owned by company insiders.

Amgen Company Profile

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.