Capital City Trust Co. FL Decreases Stake in Amgen Inc. (NASDAQ:AMGN)

Capital City Trust Co. FL reduced its stake in Amgen Inc. (NASDAQ:AMGN) by 1.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 6,594 shares of the medical research company’s stock after selling 113 shares during the period. Capital City Trust Co. FL’s holdings in Amgen were worth $1,719,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in shares of Amgen during the third quarter valued at approximately $25,000. Centricity Wealth Management LLC purchased a new position in shares of Amgen during the fourth quarter valued at approximately $25,000. Legacy Investment Solutions LLC purchased a new position in shares of Amgen during the third quarter valued at approximately $29,000. Heck Capital Advisors LLC purchased a new position in shares of Amgen during the fourth quarter valued at approximately $36,000. Finally, PrairieView Partners LLC increased its stake in shares of Amgen by 118.3% during the fourth quarter. PrairieView Partners LLC now owns 179 shares of the medical research company’s stock valued at $46,000 after buying an additional 97 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Trading Up 1.7 %

Amgen stock opened at $303.01 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. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The stock has a market capitalization of $162.78 billion, a PE ratio of 40.13, a price-to-earnings-growth ratio of 2.55 and a beta of 0.56. The business’s fifty day moving average is $276.27 and its 200 day moving average is $300.59.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data 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 return on equity of 176.32% and a net margin of 12.24%. On average, sell-side analysts predict that Amgen Inc. will post 20.6 EPS for the current year.

Amgen Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be issued a $2.38 dividend. This is an increase from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a yield of 3.14%. Amgen’s dividend payout ratio is currently 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 value of $2,585,603.09. Following the transaction, the executive vice president now owns 44,186 shares of the company’s stock, valued at $13,025,590.94. This trade represents a 16.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 completion of the transaction, the senior vice president now directly owns 7,210 shares in the company, valued at $2,195,228.70. This trade represents a 18.06 % 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.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AMGN. Citigroup reduced their target price on Amgen from $310.00 to $295.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 28th. Truist Financial dropped their price target on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Wolfe Research started coverage on Amgen in a research report on Friday, November 15th. They set a “peer perform” rating on the stock. Wells Fargo & Company dropped their price target on Amgen from $335.00 to $280.00 and set an “equal weight” rating on the stock in a research report on Friday, January 10th. Finally, Redburn Partners dropped their price target on Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $314.09.

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.