Zevenbergen Capital Investments LLC Reduces Stake in Amgen Inc. (NASDAQ:AMGN)

Zevenbergen Capital Investments LLC decreased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 0.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 9,819 shares of the medical research company’s stock after selling 75 shares during the period. Zevenbergen Capital Investments LLC’s holdings in Amgen were worth $2,559,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AMGN. Blossom Wealth Management raised its holdings in shares of Amgen by 3.5% in the 4th quarter. Blossom Wealth Management now owns 1,090 shares of the medical research company’s stock valued at $284,000 after acquiring an additional 37 shares in the last quarter. Zullo Investment Group Inc. raised its holdings in shares of Amgen by 2.8% in the 4th quarter. Zullo Investment Group Inc. now owns 1,364 shares of the medical research company’s stock valued at $356,000 after acquiring an additional 37 shares in the last quarter. Trillium Asset Management LLC raised its holdings in shares of Amgen by 4.2% in the 4th quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company’s stock valued at $237,000 after acquiring an additional 37 shares in the last quarter. Brooklyn Investment Group raised its holdings in shares of Amgen by 1.1% in the 3rd quarter. Brooklyn Investment Group now owns 3,377 shares of the medical research company’s stock valued at $1,088,000 after acquiring an additional 38 shares in the last quarter. Finally, Prestige Wealth Management Group LLC raised its holdings in shares of Amgen by 2.8% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 1,387 shares of the medical research company’s stock valued at $447,000 after buying an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Up 0.3 %

AMGN stock opened at $316.04 on Monday. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The business has a fifty day moving average price of $297.24 and a 200-day moving average price of $298.57. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. The stock 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.

Amgen (NASDAQ:AMGN) last issued its earnings results 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%. Equities analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be issued a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.01%. The ex-dividend date is Friday, May 16th. Amgen’s dividend payout ratio is 126.09%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on AMGN shares. Piper Sandler Companies reissued an “overweight” rating and set a $310.00 price objective on shares of Amgen in a report on Thursday, January 2nd. Bank of America raised their price target on Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a research report on Wednesday, March 5th. UBS Group restated a “hold” rating on shares of Amgen in a research report on Wednesday, February 12th. Truist Financial reduced their price target on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Finally, Redburn Partners reduced their price target on Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Amgen has an average rating of “Hold” and a consensus price target of $314.04.

Insider Buying and Selling

In other news, EVP David M. Reese sold 25,225 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the completion of the transaction, the executive vice president now directly owns 36,922 shares in the company, valued at approximately $11,240,533.68. This represents a 40.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Nancy A. Grygiel sold 1,589 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total value 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. This represents a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,341 shares of company stock valued at $20,644,335. 0.69% of the stock is owned by corporate insiders.

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.