Bank of New York Mellon Corp Reduces Holdings in Amgen Inc. (NASDAQ:AMGN)

Bank of New York Mellon Corp lowered its position in shares of Amgen Inc. (NASDAQ:AMGN) by 11.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,581,165 shares of the medical research company’s stock after selling 599,610 shares during the period. Bank of New York Mellon Corp owned approximately 0.85% of Amgen worth $1,194,035,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the business. Capital Performance Advisors LLP purchased a new position in shares of Amgen during the third quarter worth $25,000. Centricity Wealth Management LLC acquired a new position in shares of Amgen during the fourth quarter worth about $25,000. Legacy Investment Solutions LLC purchased a new stake in shares of Amgen in the 3rd quarter valued at approximately $29,000. Heck Capital Advisors LLC acquired a new stake in shares of Amgen in the 4th quarter valued at $36,000. Finally, PrairieView Partners LLC lifted its position in shares of Amgen by 118.3% during the 4th quarter. PrairieView Partners LLC now owns 179 shares of the medical research company’s stock worth $46,000 after purchasing an additional 97 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMGN has been the topic of a number of analyst reports. Piper Sandler raised their price target on Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. StockNews.com downgraded Amgen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. William Blair reissued an “outperform” rating on shares of Amgen in a report on Tuesday, November 12th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Amgen in a research note on Wednesday, February 5th. Finally, Redburn Partners reduced their price objective on shares of Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $314.09.

Amgen Stock Performance

NASDAQ:AMGN opened at $309.72 on Tuesday. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. The firm has a market cap of $166.38 billion, a PE ratio of 41.02, a P/E/G ratio of 2.63 and a beta of 0.56. The firm has a 50 day simple moving average of $277.14 and a 200-day simple moving average of $300.20. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85.

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

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be paid a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.07%. This is a positive change from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. Amgen’s dividend payout ratio (DPR) is presently 126.09%.

Insider Buying and Selling at Amgen

In related news, EVP Jonathan P. Graham sold 25,045 shares of the stock in a transaction on 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 transaction, the executive vice president now directly owns 28,987 shares of the company’s stock, valued at approximately $8,496,669.44. This trade represents a 46.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Nancy A. Grygiel sold 1,589 shares of Amgen stock in a transaction 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 transaction, the senior vice president now owns 7,210 shares in the company, valued at $2,195,228.70. The trade was a 18.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 69,341 shares of company stock worth $20,644,335 in the last 90 days. 0.69% of the stock is owned by company insiders.

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.