Corebridge Financial Inc. Has $42.31 Million Position in Amgen Inc. (NASDAQ:AMGN)

Corebridge Financial Inc. lessened its stake in Amgen Inc. (NASDAQ:AMGN) by 1.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 162,348 shares of the medical research company’s stock after selling 2,198 shares during the quarter. Corebridge Financial Inc.’s holdings in Amgen were worth $42,314,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Centricity Wealth Management LLC acquired a new position in shares of Amgen in the fourth quarter worth $25,000. Legacy Investment Solutions LLC purchased a new position in Amgen in the third quarter valued at about $29,000. Synergy Investment Management LLC acquired a new position in Amgen in the 4th quarter worth about $34,000. Atala Financial Inc purchased a new stake in shares of Amgen during the 4th quarter worth about $34,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Amgen during the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,589 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total transaction of $483,802.83. Following the completion of the transaction, the senior vice president now directly owns 7,210 shares in the company, valued at $2,195,228.70. This represents a 18.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP David M. Reese sold 25,225 shares of Amgen stock in a transaction 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 transaction, the executive vice president now directly owns 36,922 shares of the company’s stock, 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. Insiders sold 69,341 shares of company stock valued at $20,644,335 over the last quarter. Corporate insiders own 0.69% of the company’s stock.

Analyst Ratings Changes

AMGN has been the topic of several recent research reports. Redburn Partners cut their price objective on shares of Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Leerink Partners reduced their price objective on shares of Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. Johnson Rice set a $294.00 target price on shares of Amgen in a research report on Wednesday, March 5th. Citigroup reaffirmed a “neutral” rating on shares of Amgen in a research report on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Amgen currently has a consensus rating of “Hold” and a consensus price target of $314.04.

Amgen Price Performance

Shares of AMGN stock opened at $316.04 on Monday. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The company has a market capitalization of $169.78 billion, a P/E ratio of 41.86, a P/E/G ratio of 2.63 and a beta of 0.53. The stock has a 50 day moving average of $297.24 and a two-hundred day moving average of $298.57. 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 (NASDAQ:AMGN) last issued its earnings results 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%. As a group, equities analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be paid 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 3.01%. Amgen’s payout ratio is currently 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.