US Bancorp DE cut its holdings in Amgen Inc. (NASDAQ:AMGN) by 4.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 682,684 shares of the medical research company’s stock after selling 31,107 shares during the quarter. US Bancorp DE’s holdings in Amgen were worth $169,861,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the stock. OLD Mission Capital LLC purchased a new position in Amgen during the third quarter worth $239,000. Schonfeld Strategic Advisors LLC purchased a new position in Amgen during the third quarter worth $3,994,000. Rockland Trust Co. boosted its stake in Amgen by 5.5% during the fourth quarter. Rockland Trust Co. now owns 5,255 shares of the medical research company’s stock worth $1,208,000 after buying an additional 272 shares during the period. Private Trust Co. NA boosted its stake in Amgen by 4.3% during the fourth quarter. Private Trust Co. NA now owns 12,067 shares of the medical research company’s stock worth $2,774,000 after buying an additional 500 shares during the period. Finally, M&R Capital Management Inc. boosted its stake in Amgen by 4.3% during the fourth quarter. M&R Capital Management Inc. now owns 3,035 shares of the medical research company’s stock worth $697,000 after buying an additional 125 shares during the period. 75.23% of the stock is owned by hedge funds and other institutional investors.
Several research firms have commented on AMGN. Credit Suisse Group dropped their price objective on shares of Amgen from $265.00 to $259.00 and set an “outperform” rating for the company in a research note on Tuesday. Evercore ISI reaffirmed a “buy” rating on shares of Amgen in a research note on Thursday, April 29th. Piper Sandler decreased their target price on Amgen from $280.00 to $260.00 and set an “overweight” rating for the company in a research report on Wednesday, February 3rd. Robert W. Baird reiterated a “sell” rating on shares of Amgen in a research report on Thursday, April 29th. Finally, Barclays decreased their target price on Amgen from $242.00 to $230.00 and set an “equal weight” rating for the company in a research report on Thursday, March 11th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $255.62.
In other news, Director Ronald D. Sugar sold 1,000 shares of the business’s stock in a transaction dated Wednesday, February 10th. The stock was sold at an average price of $238.40, for a total transaction of $238,400.00. Following the sale, the director now owns 16,805 shares in the company, valued at $4,006,312. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jonathan P. Graham sold 11,110 shares of the business’s stock in a transaction dated Thursday, February 4th. The stock was sold at an average price of $236.51, for a total value of $2,627,626.10. The disclosure for this sale can be found here. Insiders have sold 14,360 shares of company stock worth $3,407,034 in the last 90 days. Insiders own 0.36% of the company’s stock.
Amgen stock traded down $0.51 during trading hours on Tuesday, reaching $244.87. The stock had a trading volume of 53,332 shares, compared to its average volume of 2,714,429. The company has a market cap of $141.00 billion, a price-to-earnings ratio of 19.89, a PEG ratio of 1.90 and a beta of 0.76. The company has a debt-to-equity ratio of 3.12, a current ratio of 2.28 and a quick ratio of 1.88. The business’s 50 day moving average price is $248.86 and its 200-day moving average price is $236.11. Amgen Inc. has a 52 week low of $210.28 and a 52 week high of $276.69.
Amgen (NASDAQ:AMGN) last announced its earnings results on Monday, April 26th. The medical research company reported $3.70 EPS for the quarter, missing the Zacks’ consensus estimate of $4.05 by ($0.35). The firm had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $6.30 billion. Amgen had a return on equity of 95.55% and a net margin of 29.42%. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.17 earnings per share. On average, sell-side analysts forecast that Amgen Inc. will post 16.15 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 8th. Shareholders of record on Monday, May 17th will be issued a $1.76 dividend. The ex-dividend date of this dividend is Friday, May 14th. This represents a $7.04 dividend on an annualized basis and a yield of 2.87%. Amgen’s dividend payout ratio is presently 47.50%.
Amgen Company Profile
Amgen, Inc is a biotechnology company, which engages in the discovery, development, manufacture and marketing of human therapeutics. Its products include the following brands: Aranesp, BLINCYTO, Corlanor, ENBREL, EPOGEN, IMLYGIC, KYPROLIS, Neulasta, NEUPOGEN, Nplate, Parsabiv, Prolia, Repatha, Sensipar, Vectibix, and XGEVA.
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