Mattern Capital Management LLC Sells 908 Shares of Amgen Inc. (NASDAQ:AMGN)

Mattern Capital Management LLC trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 2.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 32,677 shares of the medical research company’s stock after selling 908 shares during the period. Mattern Capital Management LLC’s holdings in Amgen were worth $8,517,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Pathway Financial Advisers LLC raised its position in shares of Amgen by 33,125.4% during the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock worth $1,437,115,000 after purchasing an additional 4,446,757 shares during the period. International Assets Investment Management LLC raised its position in shares of Amgen by 6,812.4% during the third quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock worth $8,130,610,000 after purchasing an additional 2,486,882 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Amgen by 561.5% during the third quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock worth $496,117,000 after purchasing an additional 1,306,982 shares during the period. Van ECK Associates Corp raised its position in shares of Amgen by 263.8% during the fourth 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. Finally, Nordea Investment Management AB raised its position in shares of Amgen by 40.7% during the fourth quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company’s stock worth $609,526,000 after purchasing an additional 676,598 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AMGN has been the topic of a number of research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $324.00 target price on shares of Amgen in a research report on Friday, January 24th. StockNews.com lowered Amgen from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Redburn Partners lowered their target price on Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Bank of America increased their price target on Amgen from $256.00 to $275.00 and gave the company an “underperform” rating in a research report on Thursday, February 6th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Two investment 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 stock. According to data from MarketBeat.com, Amgen currently has an average rating of “Hold” and a consensus target price of $314.09.

Amgen Trading Up 1.2 %

Shares of Amgen stock opened at $297.93 on Friday. 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 firm has a market cap of $160.05 billion, a PE ratio of 39.46, a P/E/G ratio of 2.54 and a beta of 0.56. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The stock has a fifty day moving average price of $275.62 and a 200-day moving average price of $300.75.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share 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%. Equities research analysts anticipate that Amgen Inc. will post 20.6 EPS for the current year.

Amgen Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be paid a $2.38 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 annualized dividend and a yield of 3.20%. This is an increase from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio (DPR) is currently 126.09%.

Insiders Place Their Bets

In other news, EVP Jonathan P. Graham sold 25,045 shares of Amgen stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $293.12, for a total transaction of $7,341,190.40. Following the completion of the sale, the executive vice president now owns 28,987 shares in the company, valued at approximately $8,496,669.44. This trade represents a 46.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Murdo Gordon sold 8,771 shares of Amgen stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $294.79, for a total value of $2,585,603.09. Following the sale, the executive vice president now owns 44,186 shares of the company’s stock, valued at approximately $13,025,590.94. This trade represents a 16.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,405 shares of company stock worth $10,410,596 in the last quarter. 0.69% of the stock is owned by company 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.