Raab & Moskowitz Asset Management LLC Cuts Holdings in Amgen Inc. (NASDAQ:AMGN)

Raab & Moskowitz Asset Management LLC lowered its position in Amgen Inc. (NASDAQ:AMGN) by 10.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 815 shares of the medical research company’s stock after selling 92 shares during the period. Raab & Moskowitz Asset Management LLC’s holdings in Amgen were worth $212,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Pathway Financial Advisers LLC boosted its position in Amgen by 33,125.4% during the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock worth $1,437,115,000 after purchasing an additional 4,446,757 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Amgen by 6,812.4% during the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock valued at $8,130,610,000 after buying an additional 2,486,882 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Amgen by 561.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock valued at $496,117,000 after acquiring an additional 1,306,982 shares during the period. Van ECK Associates Corp increased its holdings in Amgen by 263.8% in the 4th quarter. Van ECK Associates Corp now owns 1,038,593 shares of the medical research company’s stock worth $270,699,000 after acquiring an additional 753,147 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in Amgen by 40.7% during the fourth quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company’s stock worth $609,526,000 after acquiring an additional 676,598 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Trading Down 0.5 %

Shares of Amgen stock opened at $295.06 on Thursday. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.96 and a current ratio of 1.26. The firm has a market capitalization of $158.60 billion, a price-to-earnings ratio of 39.08, a PEG ratio of 3.01 and a beta of 0.56. The stock has a 50 day moving average of $272.96 and a 200 day moving average of $302.23.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. As a group, research analysts predict that Amgen Inc. will post 20.59 earnings per share for the current year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be paid a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.23%. This is an increase from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. Amgen’s payout ratio is 119.21%.

Insider Transactions at Amgen

In related news, EVP Jonathan P. Graham sold 25,045 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $293.12, for a total transaction of $7,341,190.40. Following the completion of the transaction, the executive vice president now directly owns 28,987 shares in the company, valued at $8,496,669.44. This trade represents a 46.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total transaction 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. This trade represents a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.69% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Citigroup dropped their target price on shares of Amgen from $310.00 to $295.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. Jefferies Financial Group reiterated a “buy” rating and set a $380.00 price objective on shares of Amgen in a research note on Tuesday, November 12th. UBS Group reduced their target price on Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. StockNews.com lowered Amgen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. Finally, Truist Financial reduced their price objective on Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $314.09.

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.