Insigneo Advisory Services LLC Sells 275 Shares of Amgen Inc. (NASDAQ:AMGN)

Insigneo Advisory Services LLC lessened its stake in Amgen Inc. (NASDAQ:AMGN) by 7.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,468 shares of the medical research company’s stock after selling 275 shares during the quarter. Insigneo Advisory Services LLC’s holdings in Amgen were worth $904,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of AMGN. Centricity Wealth Management LLC purchased a new stake in shares of Amgen during the fourth quarter valued at approximately $25,000. Ritter Daniher Financial Advisory LLC DE boosted its stake in Amgen by 66.2% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 51 shares during the last quarter. Synergy Investment Management LLC bought a new stake in shares of Amgen in the 4th quarter worth $34,000. Atala Financial Inc bought a new position in shares of Amgen during the fourth quarter valued at $34,000. Finally, Heck Capital Advisors LLC bought a new stake in Amgen in the 4th quarter worth about $36,000. Institutional investors own 76.50% of the company’s stock.

Insiders Place Their Bets

In other Amgen news, EVP Murdo Gordon sold 8,771 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $294.79, for a total transaction of $2,585,603.09. Following the sale, the executive vice president now directly owns 44,186 shares of the company’s stock, valued at $13,025,590.94. The trade was a 16.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP David M. Reese sold 25,225 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 36,922 shares in the company, valued at approximately $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. Insiders have sold a total of 69,341 shares of company stock valued at $20,644,335 in the last quarter. 0.69% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Piper Sandler lifted their price target on shares of Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $310.00 target price on shares of Amgen in a research report on Thursday, January 2nd. Wells Fargo & Company reissued an “equal weight” rating on shares of Amgen in a report on Wednesday, February 5th. Johnson Rice set a $294.00 price target on Amgen in a research note on Wednesday, March 5th. 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 report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Amgen presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.91.

Amgen Trading Down 4.3 %

Amgen stock opened at $282.64 on Thursday. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The firm’s 50 day moving average price is $303.78 and its 200-day moving average price is $294.82. 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 stock has a market cap of $151.96 billion, a P/E ratio of 37.44, a PEG ratio of 2.63 and a beta of 0.59.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. On average, equities analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be issued a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.37%. The ex-dividend date is Friday, May 16th. Amgen’s dividend payout ratio is presently 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.