PFC Capital Group Inc. Cuts Stock Position in Amgen Inc. (NASDAQ:AMGN)

PFC Capital Group Inc. lessened its position in Amgen Inc. (NASDAQ:AMGN) by 14.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,855 shares of the medical research company’s stock after selling 980 shares during the quarter. Amgen comprises 0.7% of PFC Capital Group Inc.’s holdings, making the stock its 29th largest position. PFC Capital Group Inc.’s holdings in Amgen were worth $1,526,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Quantbot Technologies LP acquired a new position in shares of Amgen during the third quarter worth about $150,000. Cobblestone Capital Advisors LLC NY increased its position in Amgen by 84.2% during the third quarter. Cobblestone Capital Advisors LLC NY now owns 2,431 shares of the medical research company’s stock worth $783,000 after buying an additional 1,111 shares during the period. Atlas Wealth LLC purchased a new stake in Amgen in the 3rd quarter valued at $208,000. Benjamin Edwards Inc. raised its holdings in shares of Amgen by 682.0% in the third quarter. Benjamin Edwards Inc. now owns 50,663 shares of the medical research company’s stock valued at $16,340,000 after buying an additional 44,184 shares during the last quarter. Finally, Beacon Investment Advisory Services Inc. lifted its position in Amgen by 1.8% during the 3rd quarter. Beacon Investment Advisory Services Inc. now owns 42,439 shares of the medical research company’s stock worth $13,674,000 after acquiring an additional 746 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Nancy A. Grygiel sold 1,589 shares of the firm’s 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 in the company, valued at $2,195,228.70. This trade 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 is available at the SEC website. Also, EVP Jonathan P. Graham sold 25,045 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president now owns 28,987 shares of the company’s stock, valued at $8,496,669.44. This trade represents a 46.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 69,341 shares of company stock valued at $20,644,335. 0.69% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on AMGN shares. Wells Fargo & Company restated an “equal weight” rating on shares of Amgen in a research note on Wednesday, February 5th. Johnson Rice set a $294.00 price objective on shares of Amgen in a research note on Wednesday, March 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $324.00 target price on shares of Amgen in a research note on Friday, January 24th. Piper Sandler Companies reiterated an “overweight” rating and issued a $310.00 price target on shares of Amgen in a report on Thursday, January 2nd. Finally, Bank of America increased their price objective on shares of Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $314.04.

Amgen Stock Up 1.5 %

AMGN opened at $311.55 on Tuesday. The firm has a market cap of $167.37 billion, a price-to-earnings ratio of 41.26, a PEG ratio of 2.63 and a beta of 0.53. The firm’s 50-day simple moving average is $301.87 and its 200-day simple moving average is $297.81. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85.

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

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be given a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s dividend payout ratio (DPR) is presently 126.09%.

Amgen 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.