Estabrook Capital Management Has $5.29 Million Stake in Amgen Inc. (NASDAQ:AMGN)

Estabrook Capital Management lessened its position in Amgen Inc. (NASDAQ:AMGN) by 0.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 20,305 shares of the medical research company’s stock after selling 110 shares during the quarter. Estabrook Capital Management’s holdings in Amgen were worth $5,292,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Amgen during the 4th quarter worth approximately $1,541,991,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Amgen by 25.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company’s stock worth $3,441,909,000 after purchasing an additional 2,672,975 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Amgen in the fourth quarter worth $401,913,000. Franklin Resources Inc. raised its position in Amgen by 52.7% during the 4th quarter. Franklin Resources Inc. now owns 3,291,975 shares of the medical research company’s stock worth $858,020,000 after purchasing an additional 1,135,884 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in Amgen by 263.8% during 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 purchasing an additional 753,147 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Jonathan P. Graham sold 25,045 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now directly owns 28,987 shares of the company’s stock, valued at $8,496,669.44. This trade represents a 46.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Nancy A. Grygiel sold 1,589 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total transaction of $483,802.83. Following the transaction, the senior vice president now owns 7,210 shares of the company’s stock, valued at approximately $2,195,228.70. The trade was a 18.06 % 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 in the last 90 days. 0.69% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

AMGN has been the topic of a number of analyst reports. Truist Financial reduced their price target on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Bank of America increased their target price 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. UBS Group restated a “hold” rating on shares of Amgen in a research report on Wednesday, February 12th. Citigroup reiterated a “neutral” rating on shares of Amgen in a research report on Wednesday, February 5th. Finally, Piper Sandler boosted their target price on shares of Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Amgen has a consensus rating of “Moderate Buy” and a consensus price target of $314.04.

Amgen Stock Performance

Shares of AMGN opened at $280.26 on Wednesday. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. The stock has a 50 day moving average price of $304.28 and a two-hundred day moving average price of $296.15. The firm has a market capitalization of $150.56 billion, a P/E ratio of 37.12, a P/E/G ratio of 2.63 and a beta of 0.59.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS 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%. Equities analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be paid a $2.38 dividend. The ex-dividend date is Friday, May 16th. This represents a $9.52 annualized dividend and a yield of 3.40%. 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.