Front Row Advisors LLC Sells 74 Shares of Amgen Inc. (NASDAQ:AMGN)

Front Row Advisors LLC decreased its position in Amgen Inc. (NASDAQ:AMGN) by 0.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,267 shares of the medical research company’s stock after selling 74 shares during the quarter. Front Row Advisors LLC’s holdings in Amgen were worth $2,415,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Amgen by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 52,721,795 shares of the medical research company’s stock valued at $13,741,409,000 after purchasing an additional 339,522 shares in the last quarter. State Street Corp raised its position in Amgen by 1.2% during the 3rd quarter. State Street Corp now owns 29,317,018 shares of the medical research company’s stock worth $9,446,236,000 after purchasing an additional 345,537 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Amgen by 25.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company’s stock valued at $3,441,909,000 after acquiring an additional 2,672,975 shares during the last quarter. Geode Capital Management LLC raised its stake in Amgen by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 12,475,032 shares of the medical research company’s stock worth $3,245,881,000 after buying an additional 352,143 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Amgen in the 4th quarter valued at about $1,541,991,000. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

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

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. On average, analysts predict that Amgen Inc. will post 20.62 earnings per share 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 given a $2.38 dividend. The ex-dividend date is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.06%. Amgen’s dividend payout ratio is currently 126.09%.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,589 shares of Amgen stock in a transaction on 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 owns 7,210 shares in the company, valued at approximately $2,195,228.70. The trade was a 18.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Murdo Gordon sold 8,771 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $294.79, for a total transaction of $2,585,603.09. Following the completion of the sale, the executive vice president now owns 44,186 shares of the company’s stock, valued at $13,025,590.94. The trade was a 16.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,341 shares of company stock worth $20,644,335 over the last 90 days. Corporate insiders own 0.69% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Johnson Rice set a $294.00 target price on Amgen in a research report on Wednesday, March 5th. Bank of America raised their target price on shares of Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a research note on Wednesday, March 5th. Citigroup reaffirmed a “neutral” rating on shares of Amgen in a report on Wednesday, February 5th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Amgen in a report on Wednesday, February 5th. Finally, Piper Sandler Companies reissued an “overweight” rating and issued a $310.00 target price on shares of Amgen in a research report on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $314.04.

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.