Boston Partners Sells 30,567 Shares of Amgen Inc. (NASDAQ:AMGN)

Boston Partners cut its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 1.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,261,613 shares of the medical research company’s stock after selling 30,567 shares during the quarter. Boston Partners’ holdings in Amgen were worth $590,449,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. increased its stake in shares of Amgen by 25.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company’s stock worth $3,441,909,000 after purchasing an additional 2,672,975 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Amgen during the 4th quarter worth about $401,913,000. Van ECK Associates Corp increased its stake in shares of Amgen by 263.8% during 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 last quarter. Nordea Investment Management AB increased its stake in shares of 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 worth $609,526,000 after purchasing an additional 676,598 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of 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 worth $1,657,183,000 after purchasing an additional 538,545 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Amgen Stock Performance

Shares of Amgen stock opened at $317.17 on Tuesday. The company has a 50 day moving average of $292.99 and a 200-day moving average of $299.02. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. 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 $170.39 billion, a PE ratio of 42.01, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share 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%. As a group, equities research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently disclosed 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. This represents a $9.52 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s payout ratio is 126.09%.

Insider Activity at Amgen

In related news, EVP Jonathan P. Graham sold 25,045 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $293.12, for a total value of $7,341,190.40. Following the completion of the transaction, the executive vice president now owns 28,987 shares of the company’s stock, valued at $8,496,669.44. This represents a 46.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP David M. Reese sold 8,711 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $293.22, for a total transaction of $2,554,239.42. Following the completion of the transaction, the executive vice president now directly owns 62,147 shares of the company’s stock, valued at approximately $18,222,743.34. The trade was a 12.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,341 shares of company stock valued at $20,644,335 in the last quarter. Insiders own 0.69% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wells Fargo & Company restated an “equal weight” rating on shares of Amgen in a research note on Wednesday, February 5th. StockNews.com lowered shares of Amgen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. Johnson Rice set a $294.00 price target on shares of Amgen in a research note on Wednesday, March 5th. Piper Sandler Companies reiterated an “overweight” rating and issued a $310.00 price target on shares of Amgen in a research note on Thursday, January 2nd. Finally, Piper Sandler upped their price target on shares of Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $314.04.

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.