United Services Automobile Association Cuts Position in Amgen Inc. (NASDAQ:AMGN)

United Services Automobile Association lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 1.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,445 shares of the medical research company’s stock after selling 140 shares during the quarter. United Services Automobile Association’s holdings in Amgen were worth $3,244,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMGN. Congress Wealth Management LLC DE grew its stake in shares of Amgen by 7.5% during the 4th quarter. Congress Wealth Management LLC DE now owns 72,966 shares of the medical research company’s stock worth $19,018,000 after acquiring an additional 5,119 shares during the period. Crowley Wealth Management Inc. purchased a new position in shares of Amgen during the 4th quarter valued at $2,611,000. FCA Corp TX increased its stake in Amgen by 0.8% in the 4th quarter. FCA Corp TX now owns 18,340 shares of the medical research company’s stock worth $4,780,000 after acquiring an additional 149 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Amgen by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 52,721,795 shares of the medical research company’s stock worth $13,741,409,000 after purchasing an additional 339,522 shares during the last quarter. Finally, Community Bank N.A. increased its holdings in shares of Amgen by 2.0% in the 4th quarter. Community Bank N.A. now owns 15,804 shares of the medical research company’s stock worth $4,119,000 after buying an additional 305 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,589 shares of the company’s 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 completion of the sale, the senior vice president now directly owns 7,210 shares in the company, valued at $2,195,228.70. This represents a 18.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP David M. Reese sold 25,225 shares of Amgen stock in a transaction on Friday, February 21st. The shares were 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 in the company, valued at $11,240,533.68. This trade represents a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 69,341 shares of company stock valued at $20,644,335. Insiders own 0.69% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on AMGN shares. UBS Group reiterated a “hold” rating on shares of Amgen in a research report on Wednesday, February 12th. Bank of America boosted their price objective on shares of Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a research report on Wednesday, March 5th. Truist Financial decreased their target price on Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. StockNews.com downgraded shares of Amgen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $324.00 price objective on shares of Amgen in a report on Friday, January 24th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $314.04.

Amgen Price Performance

NASDAQ AMGN opened at $316.04 on Monday. The stock has a market capitalization of $169.78 billion, a price-to-earnings ratio of 41.86, a PEG ratio of 2.63 and a beta of 0.53. Amgen Inc. has a 1-year low of $253.30 and a 1-year 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 business’s fifty day moving average price is $297.24 and its 200-day moving average price is $298.57.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, beating 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%. On average, equities analysts predict 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. Investors 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 yield of 3.01%. Amgen’s dividend payout ratio (DPR) is 126.09%.

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.