Hollencrest Capital Management Lowers Position in Amgen Inc. (NASDAQ:AMGN)

Hollencrest Capital Management lowered its holdings in Amgen Inc. (NASDAQ:AMGN) by 1.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,062 shares of the medical research company’s stock after selling 80 shares during the period. Hollencrest Capital Management’s holdings in Amgen were worth $1,059,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AMGN. Swedbank AB raised its holdings in shares of Amgen by 1.1% during the 3rd quarter. Swedbank AB now owns 538,899 shares of the medical research company’s stock valued at $173,639,000 after buying an additional 5,751 shares in the last quarter. Capital Performance Advisors LLP bought a new position in Amgen during the 3rd quarter worth approximately $25,000. Tyler Stone Wealth Management grew its position in Amgen by 160.6% during the 3rd quarter. Tyler Stone Wealth Management now owns 959 shares of the medical research company’s stock worth $309,000 after acquiring an additional 591 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in Amgen during the 3rd quarter worth approximately $245,000. Finally, Kennebec Savings Bank bought a new position in Amgen during the 3rd quarter worth approximately $57,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Trading Down 2.6 %

Shares of NASDAQ:AMGN opened at $318.89 on Wednesday. The company has a market cap of $171.31 billion, a P/E ratio of 42.24, a PEG ratio of 2.63 and a beta of 0.53. 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 stock’s fifty day moving average price is $288.66 and its 200-day moving average price is $299.43.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be issued a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s payout ratio is currently 126.09%.

Analyst Ratings Changes

AMGN has been the topic of several recent research reports. Piper Sandler Companies restated an “overweight” rating and set a $310.00 price target on shares of Amgen in a research report on Thursday, January 2nd. Leerink Partners cut their price objective on Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft cut their price objective on Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 price objective on shares of Amgen in a research report on Tuesday, November 12th. Finally, Citigroup restated a “neutral” rating on shares of Amgen in a research report on Wednesday, February 5th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $314.04.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,589 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total value of $483,802.83. Following the transaction, the senior vice president now owns 7,210 shares of the company’s stock, valued at approximately $2,195,228.70. This represents a 18.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Murdo Gordon sold 8,771 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $294.79, for a total value of $2,585,603.09. Following the completion of the transaction, the executive vice president now directly owns 44,186 shares in the company, valued at approximately $13,025,590.94. This represents a 16.56 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,341 shares of company stock valued at $20,644,335. 0.69% of the stock is owned by company 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.