US Bancorp DE Reduces Holdings in Amgen Inc. (NASDAQ:AMGN)

US Bancorp DE trimmed its stake in Amgen Inc. (NASDAQ:AMGN) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 738,025 shares of the medical research company’s stock after selling 13,070 shares during the period. US Bancorp DE owned 0.14% of Amgen worth $192,360,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of AMGN. Van ECK Associates Corp lifted its position in shares of Amgen by 263.8% in the 4th quarter. Van ECK Associates Corp now owns 1,038,593 shares of the medical research company’s stock worth $270,699,000 after purchasing an additional 753,147 shares during the period. Nordea Investment Management AB lifted its position in Amgen by 40.7% during the 4th quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company’s stock valued at $609,526,000 after acquiring an additional 676,598 shares during the period. Janus Henderson Group PLC lifted its position in Amgen by 11.7% during the 3rd quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock valued at $1,657,183,000 after acquiring an additional 538,545 shares during the period. Proficio Capital Partners LLC lifted its position in Amgen by 35,087.4% during the 4th quarter. Proficio Capital Partners LLC now owns 470,808 shares of the medical research company’s stock valued at $122,711,000 after acquiring an additional 469,470 shares during the period. Finally, State Street Corp lifted 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 valued at $9,446,236,000 after acquiring an additional 345,537 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,589 shares of Amgen stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total transaction of $483,802.83. Following the transaction, the senior vice president now owns 7,210 shares of the company’s stock, valued at $2,195,228.70. The trade was a 18.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Murdo Gordon sold 8,771 shares of Amgen stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 44,186 shares in the company, valued at $13,025,590.94. This represents 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 valued at $20,644,335 over the last 90 days. 0.69% of the stock is currently owned by corporate insiders.

Amgen Stock Performance

AMGN opened at $308.06 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The company has a market cap of $165.49 billion, a price-to-earnings ratio of 40.80, a PEG ratio of 2.63 and a beta of 0.56. The company’s 50 day moving average is $280.87 and its 200 day moving average is $300.16. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. On average, equities research analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be issued a dividend of $2.38 per share. The ex-dividend date is Friday, February 14th. This represents a $9.52 annualized dividend and a yield of 3.09%. This is an increase from Amgen’s previous quarterly dividend of $2.25. Amgen’s payout ratio is currently 126.09%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AMGN. Piper Sandler lifted their price target on shares of Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Truist Financial lowered their price target on shares of Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Royal Bank of Canada reissued an “outperform” rating and set a $324.00 price target on shares of Amgen in a research report on Friday, January 24th. Citigroup restated a “neutral” rating on shares of Amgen in a research note on Wednesday, February 5th. Finally, Wells Fargo & Company restated an “equal weight” rating on shares of Amgen in a research note on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, ten have given 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, the company has an average rating of “Hold” and a consensus price target of $314.09.

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.