Amgen Inc. (NASDAQ:AMGN) Shares Sold by Hobbs Group Advisors LLC

Hobbs Group Advisors LLC lowered its holdings in Amgen Inc. (NASDAQ:AMGN) by 9.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 1,298 shares of the medical research company’s stock after selling 131 shares during the quarter. Hobbs Group Advisors LLC’s holdings in Amgen were worth $338,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in AMGN. Centricity Wealth Management LLC acquired a new stake in Amgen in the 4th quarter valued at $25,000. Legacy Investment Solutions LLC acquired a new stake in shares of Amgen in the third quarter valued at about $29,000. Synergy Investment Management LLC purchased a new stake in shares of Amgen during the 4th quarter valued at about $34,000. Atala Financial Inc acquired a new position in Amgen during the 4th quarter worth approximately $34,000. Finally, Heck Capital Advisors LLC acquired a new stake in Amgen in the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Up 0.4 %

Shares of NASDAQ:AMGN opened at $306.95 on Friday. The firm has a 50 day simple moving average of $301.08 and a 200 day simple moving average of $298.38. 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 company has a market cap of $164.90 billion, a PE ratio of 40.66, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53.

Amgen (NASDAQ:AMGN) last released its 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%. As a group, research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be paid a dividend of $2.38 per share. The ex-dividend date is Friday, May 16th. This represents a $9.52 annualized dividend and a yield of 3.10%. Amgen’s dividend payout ratio (DPR) is presently 126.09%.

Insider Buying and Selling at Amgen

In other news, EVP Murdo Gordon sold 8,771 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $294.79, for a total transaction of $2,585,603.09. Following the completion of the sale, the executive vice president now directly owns 44,186 shares of the company’s stock, valued at $13,025,590.94. This trade represents a 16.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 of the company’s stock, 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. Insiders have sold a total of 69,341 shares of company stock valued at $20,644,335 in the last 90 days. 0.69% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

AMGN has been the topic of a number of recent research reports. Truist Financial reduced 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $324.00 target price on shares of Amgen in a research report on Friday, January 24th. Johnson Rice set a $294.00 price target on shares of Amgen in a report on Wednesday, March 5th. Piper Sandler Companies restated an “overweight” rating and set a $310.00 price objective on shares of Amgen in a research note on Thursday, January 2nd. Finally, 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. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Amgen has a consensus rating of “Moderate Buy” and an average price target of $314.04.

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.