Amgen Inc. (NASDAQ:AMGN) Stock Position Decreased by Laffer Tengler Investments Inc.

Laffer Tengler Investments Inc. cut its holdings in Amgen Inc. (NASDAQ:AMGN) by 28.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,009 shares of the medical research company’s stock after selling 804 shares during the quarter. Laffer Tengler Investments Inc.’s holdings in Amgen were worth $524,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Swedbank AB boosted its stake in shares of Amgen by 1.1% during the 3rd quarter. Swedbank AB now owns 538,899 shares of the medical research company’s stock worth $173,639,000 after acquiring an additional 5,751 shares in the last quarter. Greenwood Capital Associates LLC lifted its holdings in Amgen by 23.4% in the 3rd quarter. Greenwood Capital Associates LLC now owns 52,096 shares of the medical research company’s stock worth $16,786,000 after purchasing an additional 9,871 shares during the last quarter. W.H. Cornerstone Investments Inc. boosted its position in Amgen by 10.5% during the third quarter. W.H. Cornerstone Investments Inc. now owns 1,000 shares of the medical research company’s stock worth $322,000 after purchasing an additional 95 shares during the period. Global Wealth Management Investment Advisory Inc. grew its holdings in Amgen by 0.8% during the third quarter. Global Wealth Management Investment Advisory Inc. now owns 5,429 shares of the medical research company’s stock valued at $1,749,000 after purchasing an additional 41 shares during the last quarter. Finally, NorthRock Partners LLC raised its position in shares of Amgen by 1.1% in the third quarter. NorthRock Partners LLC now owns 4,228 shares of the medical research company’s stock valued at $1,362,000 after purchasing an additional 45 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Ratings Changes

AMGN has been the subject of several recent analyst reports. Truist Financial decreased their price objective on shares of Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Leerink Partners decreased their price target on shares of Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Bank of America raised their price target on Amgen from $256.00 to $275.00 and gave the company an “underperform” rating in a research report on Thursday, February 6th. UBS Group reissued a “hold” rating on shares of Amgen in a research report on Wednesday, February 12th. Finally, Piper Sandler Companies reaffirmed an “overweight” rating and issued a $310.00 target price on shares of Amgen in a report on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $314.09.

Amgen Trading Up 0.5 %

Shares of AMGN opened at $312.19 on Wednesday. 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 stock has a market cap of $167.71 billion, a PE ratio of 41.35, a PEG ratio of 2.63 and a beta of 0.56. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The stock has a 50 day simple moving average of $282.76 and a 200-day simple moving average of $299.66.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. On average, sell-side analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

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 given a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.05%. Amgen’s dividend payout ratio (DPR) is presently 126.09%.

Insiders Place Their Bets

In other Amgen news, EVP Murdo Gordon sold 8,771 shares of Amgen stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $294.79, for a total value of $2,585,603.09. Following the completion of the transaction, the executive vice president now owns 44,186 shares in the company, valued at approximately $13,025,590.94. The trade was a 16.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Nancy A. Grygiel sold 1,589 shares of the stock in a transaction 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 owns 7,210 shares in the company, valued at $2,195,228.70. The trade was a 18.06 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,341 shares of company stock valued at $20,644,335. 0.69% of the stock is currently owned by insiders.

About Amgen

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.