Pitcairn Co. Has $3.86 Million Stake in Amgen Inc. (NASDAQ:AMGN)

Pitcairn Co. trimmed its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 8.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 14,826 shares of the medical research company’s stock after selling 1,311 shares during the quarter. Pitcairn Co.’s holdings in Amgen were worth $3,864,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Blossom Wealth Management increased its holdings in shares of Amgen by 3.5% in the fourth quarter. Blossom Wealth Management now owns 1,090 shares of the medical research company’s stock worth $284,000 after purchasing an additional 37 shares during the period. Zullo Investment Group Inc. increased its stake in Amgen by 2.8% in the 4th quarter. Zullo Investment Group Inc. now owns 1,364 shares of the medical research company’s stock worth $356,000 after acquiring an additional 37 shares during 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. Prestige Wealth Management Group LLC grew its holdings in shares of Amgen by 2.8% during the third quarter. Prestige Wealth Management Group LLC now owns 1,387 shares of the medical research company’s stock worth $447,000 after purchasing an additional 38 shares in the last quarter. Finally, Evermay Wealth Management LLC increased its position in shares of Amgen by 1.5% in the fourth quarter. Evermay Wealth Management LLC now owns 2,650 shares of the medical research company’s stock worth $691,000 after purchasing an additional 38 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

AMGN opened at $305.70 on Thursday. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The stock has a 50-day moving average price of $303.16 and a 200-day moving average price of $297.69. The firm has a market cap of $164.22 billion, a PE ratio of 40.49, a P/E/G ratio of 2.63 and a beta of 0.53. 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 (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS 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%. Sell-side analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be paid a $2.38 dividend. The ex-dividend date is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.11%. Amgen’s dividend payout ratio (DPR) is presently 126.09%.

Analyst Upgrades and Downgrades

AMGN has been the subject of a number of research reports. Truist Financial cut their price target on shares of Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Wells Fargo & Company reissued an “equal weight” rating on shares of Amgen in a research note on Wednesday, February 5th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $324.00 price target on shares of Amgen in a research note on Friday, January 24th. 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. Finally, Citigroup reaffirmed a “neutral” rating on shares of Amgen in a research note on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Amgen presently has an average rating of “Moderate Buy” and an average price target of $314.04.

Insider Activity

In other Amgen news, EVP Jonathan P. Graham sold 25,045 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 28,987 shares in the company, valued at $8,496,669.44. The trade was a 46.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Nancy A. Grygiel sold 1,589 shares of the firm’s stock in a transaction dated 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 approximately $2,195,228.70. The trade was a 18.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,341 shares of company stock worth $20,644,335 in the last three months. Company insiders own 0.69% of the company’s stock.

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.