Harrington Investments INC Sells 43 Shares of Amgen Inc. (NASDAQ:AMGN)

Harrington Investments INC lessened its position in Amgen Inc. (NASDAQ:AMGN) by 0.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,476 shares of the medical research company’s stock after selling 43 shares during the period. Amgen comprises approximately 1.5% of Harrington Investments INC’s holdings, making the stock its 21st biggest holding. Harrington Investments INC’s holdings in Amgen were worth $2,730,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Swedbank AB boosted its holdings in shares of Amgen by 1.1% in the 3rd quarter. Swedbank AB now owns 538,899 shares of the medical research company’s stock worth $173,639,000 after acquiring an additional 5,751 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Amgen in the third quarter worth $876,000. MQS Management LLC bought a new stake in shares of Amgen during the third quarter worth $219,000. OneDigital Investment Advisors LLC increased its stake in shares of Amgen by 4.4% in the third quarter. OneDigital Investment Advisors LLC now owns 18,899 shares of the medical research company’s stock valued at $6,090,000 after buying an additional 801 shares in the last quarter. Finally, Oak Harbor Wealth Partners LLC raised its holdings in shares of Amgen by 9.1% in the third quarter. Oak Harbor Wealth Partners LLC now owns 1,493 shares of the medical research company’s stock valued at $481,000 after buying an additional 124 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

AMGN opened at $313.71 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The business has a 50 day moving average of $291.82 and a 200-day moving average of $299.52. The stock has a market cap of $168.53 billion, a price-to-earnings ratio of 41.55, a PEG ratio of 2.63 and a beta of 0.53.

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 the consensus estimate 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 research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be issued 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 3.03%. Amgen’s payout ratio is currently 126.09%.

Insider Activity at Amgen

In other Amgen news, EVP Jonathan P. Graham sold 25,045 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $293.12, for a total transaction of $7,341,190.40. Following the transaction, the executive vice president now owns 28,987 shares in the company, valued at $8,496,669.44. This represents a 46.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Nancy A. Grygiel sold 1,589 shares of Amgen stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total transaction of $483,802.83. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,341 shares of company stock worth $20,644,335 in the last ninety days. 0.69% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on AMGN shares. Piper Sandler increased their price objective on shares of Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Citigroup reissued a “neutral” rating on shares of Amgen in a research note on Wednesday, February 5th. UBS Group reaffirmed a “hold” rating on shares of Amgen in a report on Wednesday, February 12th. Truist Financial lowered their target price on Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Finally, Bank of America upped their price target on Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a research note on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Amgen currently has an average rating of “Hold” and an average target price of $314.04.

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.