American Research & Management Co. lessened its stake in Amgen Inc. (NASDAQ:AMGN) by 2.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,665 shares of the medical research company’s stock after selling 125 shares during the quarter. American Research & Management Co.’s holdings in Amgen were worth $1,161,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. ExodusPoint Capital Management LP bought a new stake in Amgen in the third quarter valued at approximately $3,059,000. Eudaimonia Partners LLC boosted its holdings in shares of Amgen by 21.7% during the 3rd quarter. Eudaimonia Partners LLC now owns 1,822 shares of the medical research company’s stock worth $149,000 after buying an additional 325 shares in the last quarter. OLD Mission Capital LLC bought a new position in shares of Amgen during the 3rd quarter worth approximately $239,000. Advisory Alpha LLC bought a new position in shares of Amgen during the 3rd quarter worth approximately $25,000. Finally, Financial Advisory Service Inc. boosted its holdings in shares of Amgen by 12.4% during the 3rd quarter. Financial Advisory Service Inc. now owns 1,915 shares of the medical research company’s stock worth $487,000 after buying an additional 211 shares in the last quarter. 75.23% of the stock is owned by hedge funds and other institutional investors.
AMGN traded down $0.47 during midday trading on Thursday, reaching $247.65. The company had a trading volume of 34,528 shares, compared to its average volume of 2,729,896. The company has a debt-to-equity ratio of 3.12, a quick ratio of 1.88 and a current ratio of 2.28. The stock has a market cap of $143.03 billion, a PE ratio of 20.00, a P/E/G ratio of 1.90 and a beta of 0.76. Amgen Inc. has a 12-month low of $207.34 and a 12-month high of $276.69. The business has a 50-day moving average price of $237.64 and a two-hundred day moving average price of $235.35.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 8th. Investors of record on Monday, May 17th will be paid a dividend of $1.76 per share. This represents a $7.04 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend is Friday, May 14th. Amgen’s payout ratio is currently 47.50%.
Several analysts recently issued reports on the stock. Piper Sandler reduced their price target on shares of Amgen from $280.00 to $260.00 and set an “overweight” rating for the company in a research report on Wednesday, February 3rd. The Goldman Sachs Group set a $277.00 price target on shares of Amgen and gave the company a “buy” rating in a research report on Thursday, March 4th. Cantor Fitzgerald lifted their price target on shares of Amgen from $280.00 to $295.00 and gave the company an “overweight” rating in a research report on Wednesday, February 3rd. Oppenheimer lifted their price target on shares of Amgen from $266.00 to $275.00 in a research report on Monday. Finally, Royal Bank of Canada reissued a “neutral” rating on shares of Amgen in a research report on Monday, January 4th. Ten research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Amgen has an average rating of “Buy” and an average target price of $258.57.
In related news, Director Ronald D. Sugar sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 10th. The shares were sold at an average price of $231.53, for a total transaction of $231,530.00. Following the sale, the director now owns 16,805 shares of the company’s stock, valued at approximately $3,890,861.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jonathan P. Graham sold 11,110 shares of the company’s stock in a transaction that occurred on Thursday, February 4th. The stock was sold at an average price of $236.51, for a total transaction of $2,627,626.10. The disclosure for this sale can be found here. Insiders have sold a total of 14,360 shares of company stock worth $3,393,044 over the last 90 days. 0.36% of the stock is currently owned by corporate insiders.
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with BehÃ§et's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.
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