Parallel Advisors LLC Lowers Holdings in Amgen Inc. (NASDAQ:AMGN)

Parallel Advisors LLC lowered its position in shares of Amgen Inc. (NASDAQ:AMGN) by 6.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,384 shares of the medical research company’s stock after selling 691 shares during the period. Parallel Advisors LLC’s holdings in Amgen were worth $2,446,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Talbot Financial LLC lifted its holdings in Amgen by 5.6% during the fourth quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company’s stock worth $11,153,000 after buying an additional 2,274 shares during the period. Asset Advisors Investment Management LLC lifted its stake in shares of Amgen by 9.0% during the 3rd quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company’s stock worth $11,578,000 after purchasing an additional 2,954 shares during the last quarter. Principal Financial Group Inc. boosted its position in Amgen by 6.0% during the third quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company’s stock valued at $204,659,000 after purchasing an additional 35,785 shares in the last quarter. Ascent Wealth Partners LLC grew its stake in Amgen by 0.7% in the fourth quarter. Ascent Wealth Partners LLC now owns 9,024 shares of the medical research company’s stock valued at $2,352,000 after purchasing an additional 64 shares during the last quarter. Finally, ICICI Prudential Asset Management Co Ltd raised its holdings in Amgen by 242.2% in the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 23,999 shares of the medical research company’s stock worth $6,255,000 after purchasing an additional 16,985 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Jonathan P. Graham sold 25,045 shares of the company’s 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 transaction, the executive vice president now owns 28,987 shares of the company’s stock, valued at approximately $8,496,669.44. This represents a 46.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP David M. Reese sold 25,225 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $304.44, for a total value of $7,679,499.00. Following the completion of the sale, the executive vice president now directly owns 36,922 shares in the company, valued at approximately $11,240,533.68. The trade was a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 69,341 shares of company stock worth $20,644,335. Company insiders own 0.69% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Truist Financial cut their price objective 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. Deutsche Bank Aktiengesellschaft cut their price target on shares of Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. UBS Group reiterated a “hold” rating on shares of Amgen in a report on Wednesday, February 12th. Piper Sandler Companies restated an “overweight” rating and set a $310.00 target price on shares of Amgen in a research note on Thursday, January 2nd. Finally, Bank of America increased their price target on Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a research note on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Amgen currently has a consensus rating of “Hold” and an average price target of $314.04.

Amgen Stock Up 0.5 %

Shares of AMGN opened at $318.65 on Wednesday. The company has a market capitalization of $171.18 billion, a price-to-earnings ratio of 42.21, a PEG ratio of 2.63 and a beta of 0.53. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The stock’s 50-day moving average price is $294.12 and its 200-day moving average price is $298.91. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, topping 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 20.62 EPS for the current year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be issued a $2.38 dividend. The ex-dividend date is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a yield of 2.99%. Amgen’s payout ratio is 126.09%.

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.