Summit Trail Advisors LLC Trims Holdings in Amgen Inc. (NASDAQ:AMGN)

Summit Trail Advisors LLC decreased its position in Amgen Inc. (NASDAQ:AMGN) by 4.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,733 shares of the medical research company’s stock after selling 233 shares during the period. Summit Trail Advisors LLC’s holdings in Amgen were worth $1,363,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in AMGN. International Assets Investment Management LLC purchased a new stake in shares of Amgen during the fourth quarter worth about $4,589,900,000. Assenagon Asset Management S.A. increased its position in shares of Amgen by 486.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 899,232 shares of the medical research company’s stock valued at $258,997,000 after acquiring an additional 745,929 shares during the period. abrdn plc raised its stake in Amgen by 150.4% in the 4th quarter. abrdn plc now owns 1,043,609 shares of the medical research company’s stock worth $300,580,000 after acquiring an additional 626,810 shares during the last quarter. Los Angeles Capital Management LLC lifted its position in Amgen by 111.9% during the 4th quarter. Los Angeles Capital Management LLC now owns 989,061 shares of the medical research company’s stock worth $284,869,000 after acquiring an additional 522,367 shares during the period. Finally, Royal Bank of Canada grew its stake in Amgen by 11.4% during the 3rd quarter. Royal Bank of Canada now owns 5,079,677 shares of the medical research company’s stock valued at $1,365,213,000 after purchasing an additional 518,689 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Stock Performance

Shares of AMGN stock traded down $11.81 during mid-day trading on Monday, hitting $299.48. 4,717,087 shares of the stock were exchanged, compared to its average volume of 2,915,562. Amgen Inc. has a 12-month low of $211.71 and a 12-month high of $329.72. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42. The stock has a market capitalization of $160.64 billion, a price-to-earnings ratio of 44.47, a P/E/G ratio of 3.00 and a beta of 0.60. The stock’s fifty day simple moving average is $274.95 and its two-hundred day simple moving average is $281.46.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, beating the consensus estimate of $3.76 by $0.20. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The business had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.45 billion. During the same period in the prior year, the company earned $3.98 earnings per share. The company’s revenue was up 22.0% compared to the same quarter last year. On average, analysts forecast that Amgen Inc. will post 19.46 EPS for the current year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date is Thursday, May 16th. Amgen’s dividend payout ratio (DPR) is 128.57%.

Insiders Place Their Bets

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $313.09, for a total transaction of $662,811.53. Following the transaction, the senior vice president now directly owns 9,883 shares of the company’s stock, valued at approximately $3,094,268.47. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.69% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently commented on AMGN. Leerink Partnrs cut Amgen from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 7th. The Goldman Sachs Group increased their price objective on Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. UBS Group lifted their target price on shares of Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a research note on Friday. SVB Leerink cut shares of Amgen from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $324.00 to $318.00 in a research report on Wednesday, February 7th. Finally, Raymond James initiated coverage on shares of Amgen in a research report on Thursday, March 28th. They set a “market perform” rating on the stock. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $305.05.

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.