Price T Rowe Associates Inc. MD Trims Holdings in Amgen Inc. (NASDAQ:AMGN)

Price T Rowe Associates Inc. MD lowered its holdings in Amgen Inc. (NASDAQ:AMGN) by 41.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,643,117 shares of the medical research company’s stock after selling 1,903,289 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.49% of Amgen worth $688,903,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Beck Mack & Oliver LLC boosted its holdings in Amgen by 0.7% during the 4th quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company’s stock valued at $1,205,000 after acquiring an additional 34 shares during the period. Blossom Wealth Management increased its stake in Amgen by 3.5% during the 4th quarter. Blossom Wealth Management now owns 1,090 shares of the medical research company’s stock worth $284,000 after buying an additional 37 shares during the period. Zullo Investment Group Inc. lifted its holdings in Amgen by 2.8% during the 4th quarter. Zullo Investment Group Inc. now owns 1,364 shares of the medical research company’s stock worth $356,000 after buying an additional 37 shares in the last quarter. Trillium Asset Management LLC boosted its position in Amgen by 4.2% in the 4th quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company’s stock valued at $237,000 after buying an additional 37 shares during the period. Finally, Evermay Wealth Management LLC grew its stake in shares of Amgen by 1.5% in the fourth quarter. Evermay Wealth Management LLC now owns 2,650 shares of the medical research company’s stock worth $691,000 after acquiring an additional 38 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on AMGN shares. Wells Fargo & Company reiterated an “equal weight” rating on shares of Amgen in a report on Wednesday, February 5th. StockNews.com downgraded Amgen from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 17th. Truist Financial reduced their target price on shares of Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Piper Sandler boosted their price target on shares of Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $324.00 price objective on shares of Amgen in a research report on Friday, January 24th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $310.57.

Insider Activity

In other Amgen news, 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 sale, the senior vice president now owns 7,210 shares of the company’s stock, valued at $2,195,228.70. This represents a 18.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jonathan P. Graham sold 25,045 shares of the business’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 of the company’s stock, valued at approximately $8,496,669.44. This represents a 46.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 69,341 shares of company stock worth $20,644,335. Corporate insiders own 0.69% of the company’s stock.

Amgen Stock Up 0.7 %

AMGN opened at $279.84 on Friday. The stock’s fifty day moving average is $301.75 and its 200-day moving average is $293.08. The company has a market capitalization of $150.46 billion, a PE ratio of 37.06, a P/E/G ratio of 2.63 and a beta of 0.59. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, beating the consensus estimate 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 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be paid a $2.38 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 annualized dividend and a dividend yield of 3.40%. Amgen’s dividend payout ratio is currently 126.09%.

Amgen 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.