Amgen Inc. (NASDAQ:AMGN) Shares Sold by Payden & Rygel

Payden & Rygel reduced its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 85.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,300 shares of the medical research company’s stock after selling 30,100 shares during the period. Payden & Rygel’s holdings in Amgen were worth $1,381,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Centricity Wealth Management LLC acquired a new position in Amgen in the 4th quarter valued at about $25,000. Legacy Investment Solutions LLC purchased a new position in Amgen in the third quarter worth approximately $29,000. Synergy Investment Management LLC purchased a new position in Amgen in the fourth quarter worth approximately $34,000. Atala Financial Inc acquired a new stake in Amgen during the fourth quarter worth $34,000. Finally, Heck Capital Advisors LLC purchased a new stake in Amgen in the fourth quarter valued at $36,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Insider Transactions at Amgen

In related news, EVP David M. Reese sold 25,225 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 36,922 shares in the company, valued at $11,240,533.68. This trade represents a 40.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Murdo Gordon sold 8,771 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 44,186 shares of the company’s stock, valued at approximately $13,025,590.94. This represents a 16.56 % 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. Corporate insiders own 0.69% of the company’s stock.

Amgen Trading Down 5.0 %

AMGN opened at $294.39 on Friday. The business’s 50-day simple moving average is $304.18 and its 200-day simple moving average is $297.49. The company has a market cap of $158.15 billion, a P/E ratio of 38.99, a PEG ratio of 2.63 and a beta of 0.53. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data 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 expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be issued a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s payout ratio is 126.09%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AMGN. Piper Sandler Companies reissued an “overweight” rating and set a $310.00 price objective on shares of Amgen in a research report on Thursday, January 2nd. StockNews.com upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 29th. Johnson Rice set a $294.00 price objective on shares of Amgen in a report on Wednesday, March 5th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Amgen in a report on Wednesday, February 5th. Finally, Truist Financial decreased their price target on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Two equities research 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $314.04.

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.