Amgen Inc. (NASDAQ:AMGN) Shares Sold by SevenBridge Financial Group LLC

SevenBridge Financial Group LLC cut its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 3.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 17,796 shares of the medical research company’s stock after selling 730 shares during the period. SevenBridge Financial Group LLC’s holdings in Amgen were worth $4,638,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AMGN. Blossom Wealth Management grew 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 worth $284,000 after acquiring an additional 37 shares during the period. Zullo Investment Group Inc. grew its holdings in Amgen by 2.8% in the fourth quarter. Zullo Investment Group Inc. now owns 1,364 shares of the medical research company’s stock valued at $356,000 after purchasing an additional 37 shares during the last quarter. Trillium Asset Management LLC increased its position in shares of Amgen by 4.2% in the fourth quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company’s stock valued at $237,000 after buying an additional 37 shares in the last quarter. Prestige Wealth Management Group LLC raised its stake 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 worth $447,000 after buying an additional 38 shares during the last quarter. Finally, Evermay Wealth Management LLC boosted its position in shares of Amgen by 1.5% in the 4th quarter. Evermay Wealth Management LLC now owns 2,650 shares of the medical research company’s stock worth $691,000 after buying an additional 38 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on AMGN. Truist Financial reduced their price target on shares of Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Bank of America upped their price objective on Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a research report on Wednesday, March 5th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Amgen in a research report on Wednesday, February 5th. UBS Group restated a “hold” rating on shares of Amgen in a report on Wednesday, February 12th. Finally, Piper Sandler Companies reiterated an “overweight” rating and set a $310.00 price target on shares of Amgen in a report on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $314.04.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 1,589 shares of the company’s stock in a transaction 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 sale, the senior vice president now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP David M. Reese sold 25,225 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 36,922 shares of the company’s stock, valued at $11,240,533.68. The trade was a 40.59 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,341 shares of company stock worth $20,644,335. 0.69% of the stock is currently owned by corporate insiders.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $306.92 on Wednesday. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The company has a market capitalization of $164.88 billion, a price-to-earnings ratio of 40.65, a PEG ratio of 2.63 and a beta of 0.53. The business has a 50-day moving average of $302.51 and a 200-day moving average of $297.63.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, beating 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, equities analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be given a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s payout ratio is 126.09%.

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.