Amgen Inc. (NASDAQ:AMGN) Stake Reduced by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 0.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 16,258 shares of the medical research company’s stock after selling 155 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Amgen were worth $4,237,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Larson Financial Group LLC boosted its stake in Amgen by 29.2% in the 3rd quarter. Larson Financial Group LLC now owns 1,021 shares of the medical research company’s stock worth $329,000 after purchasing an additional 231 shares during the period. Fisher Asset Management LLC grew its stake in Amgen by 21.3% in the third quarter. Fisher Asset Management LLC now owns 102,352 shares of the medical research company’s stock valued at $32,979,000 after purchasing an additional 17,974 shares in the last quarter. DRW Securities LLC acquired a new position in Amgen in the third quarter worth approximately $244,000. Loomis Sayles & Co. L P raised its position in Amgen by 6.6% during the third quarter. Loomis Sayles & Co. L P now owns 854 shares of the medical research company’s stock valued at $275,000 after acquiring an additional 53 shares in the last quarter. Finally, Qsemble Capital Management LP acquired a new stake in shares of Amgen in the 3rd quarter valued at $230,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on AMGN. 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. Redburn Partners decreased their price objective on shares of Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Truist Financial cut their target price on shares of Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. StockNews.com downgraded Amgen from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Finally, Bank of America boosted their price objective on Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a research report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $314.04.

Insider Activity at Amgen

In other Amgen news, 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 sale, the executive vice president now directly owns 36,922 shares in the company, valued at approximately $11,240,533.68. The trade was a 40.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jonathan P. Graham sold 25,045 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $293.12, for a total value of $7,341,190.40. Following the transaction, the executive vice president now directly owns 28,987 shares in the company, valued at $8,496,669.44. This trade represents a 46.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,341 shares of company stock worth $20,644,335. 0.69% of the stock is currently owned by company insiders.

Amgen Price Performance

Shares of Amgen stock opened at $306.86 on Wednesday. The stock has a market capitalization of $164.85 billion, a price-to-earnings ratio of 40.64, a P/E/G ratio of 2.63 and a beta of 0.53. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The firm’s 50-day moving average price is $298.92 and its two-hundred day moving average price is $298.41. 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 announced its 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%. On average, equities analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

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