Bank of Hawaii lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) by 8.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 833 shares of the medical research company’s stock after selling 76 shares during the quarter. Bank of Hawaii’s holdings in Amgen were worth $217,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of AMGN. Talbot Financial LLC boosted its holdings in Amgen by 5.6% in the 4th quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company’s stock worth $11,153,000 after acquiring an additional 2,274 shares during the period. Asset Advisors Investment Management LLC boosted its stake in shares of Amgen by 9.0% in the third quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company’s stock valued at $11,578,000 after purchasing an additional 2,954 shares during the period. Ascent Wealth Partners LLC boosted its stake in shares of Amgen by 0.7% in the fourth quarter. Ascent Wealth Partners LLC now owns 9,024 shares of the medical research company’s stock valued at $2,352,000 after purchasing an additional 64 shares during the period. Principal Financial Group Inc. grew its holdings in Amgen by 6.0% during the 3rd quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company’s stock valued at $204,659,000 after purchasing an additional 35,785 shares in the last quarter. Finally, ICICI Prudential Asset Management Co Ltd increased its stake in Amgen by 242.2% during the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 23,999 shares of the medical research company’s stock worth $6,255,000 after buying an additional 16,985 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the stock. Citigroup reissued a “neutral” rating on shares of Amgen in a research report on Wednesday, February 5th. UBS Group restated a “hold” rating on shares of Amgen in a research note on Wednesday, February 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $324.00 target price on shares of Amgen in a research report on Friday, January 24th. StockNews.com upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Finally, Piper Sandler lifted their price target on shares of Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Amgen currently has a consensus rating of “Moderate Buy” and an average target price of $315.22.
Amgen Price Performance
Shares of AMGN opened at $281.41 on Friday. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. 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 stock has a fifty day moving average price of $304.39 and a 200 day moving average price of $295.46. The company has a market cap of $151.17 billion, a P/E ratio of 37.27, a PEG ratio of 2.63 and a beta of 0.59.
Amgen (NASDAQ:AMGN – Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, topping the consensus estimate of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. On average, research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.
Amgen Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be paid a $2.38 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 annualized dividend and a dividend yield of 3.38%. Amgen’s payout ratio is currently 126.09%.
Insider Activity
In related news, SVP Nancy A. Grygiel sold 1,589 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total value of $483,802.83. Following the sale, the senior vice president now directly owns 7,210 shares in the company, valued at $2,195,228.70. This trade represents a 18.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David M. Reese sold 25,225 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $304.44, for a total value of $7,679,499.00. Following the transaction, the executive vice president now owns 36,922 shares of the company’s stock, valued at $11,240,533.68. This trade represents a 40.59 % 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 valued at $20,644,335. 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.
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