Amgen Inc. (NASDAQ:AMGN) Stake Trimmed by Baxter Bros Inc.

Baxter Bros Inc. cut its position in shares of Amgen Inc. (NASDAQ:AMGN) by 1.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,546 shares of the medical research company’s stock after selling 42 shares during the quarter. Baxter Bros Inc.’s holdings in Amgen were worth $664,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Icon Wealth Advisors LLC lifted its holdings in shares of Amgen by 3,955.0% in the third quarter. Icon Wealth Advisors LLC now owns 174,040 shares of the medical research company’s stock valued at $56,000 after purchasing an additional 169,748 shares in the last quarter. Larson Financial Group LLC lifted 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 acquiring an additional 231 shares in the last quarter. Summit Trail Advisors LLC boosted its position in Amgen by 40.1% during the 3rd quarter. Summit Trail Advisors LLC now owns 7,552 shares of the medical research company’s stock worth $2,433,000 after acquiring an additional 2,163 shares during the period. Fisher Asset Management LLC grew its stake in Amgen by 21.3% during the 3rd quarter. Fisher Asset Management LLC now owns 102,352 shares of the medical research company’s stock valued at $32,979,000 after acquiring an additional 17,974 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd increased its holdings in shares of Amgen by 44.9% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 27,496 shares of the medical research company’s stock valued at $8,856,000 after purchasing an additional 8,524 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on AMGN. Redburn Partners decreased their price target on shares of Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Johnson Rice set a $294.00 price target 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. 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. Finally, Bank of America lifted their price target on Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Amgen presently has an average rating of “Hold” and a consensus target price of $314.04.

Amgen Stock Down 0.5 %

AMGN stock opened at $314.38 on Tuesday. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The company has a market cap of $168.89 billion, a PE ratio of 41.64, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53. The business’s 50-day simple moving average is $298.13 and its 200 day simple moving average is $298.50.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share 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, research analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be given a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 annualized dividend and a dividend yield of 3.03%. Amgen’s dividend payout ratio (DPR) is currently 126.09%.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,589 shares of the company’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 sale, the senior vice president now owns 7,210 shares of the company’s stock, valued at approximately $2,195,228.70. This represents a 18.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David M. Reese sold 25,225 shares of the stock in a transaction dated 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 sale, 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. Insiders have sold a total of 69,341 shares of company stock valued at $20,644,335 over the last quarter. 0.69% of the stock is owned by company insiders.

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.