NBT Bank N A NY Cuts Stock Position in Amgen Inc. (NASDAQ:AMGN)

NBT Bank N A NY trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 4.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 5,522 shares of the medical research company’s stock after selling 258 shares during the quarter. NBT Bank N A NY’s holdings in Amgen were worth $1,439,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of AMGN. Charles Schwab Investment Management Inc. increased its holdings in shares of Amgen by 25.4% in the 4th 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 in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Amgen in the 4th quarter worth $401,913,000. Van ECK Associates Corp grew its holdings in shares of Amgen by 263.8% in the fourth quarter. Van ECK Associates Corp now owns 1,038,593 shares of the medical research company’s stock worth $270,699,000 after acquiring an additional 753,147 shares during the period. Nordea Investment Management AB grew its holdings in shares of Amgen by 40.7% in the fourth quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company’s stock worth $609,526,000 after acquiring an additional 676,598 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in shares of Amgen by 11.7% in the third quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock worth $1,657,183,000 after acquiring an additional 538,545 shares during the period. Institutional investors own 76.50% of the company’s stock.

Insiders Place Their Bets

In other Amgen news, EVP David M. Reese sold 25,225 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the completion of the sale, the executive vice president now owns 36,922 shares in the company, valued at $11,240,533.68. This represents a 40.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Nancy A. Grygiel sold 1,589 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total value of $483,802.83. Following the sale, the senior vice president now owns 7,210 shares of the company’s stock, valued at approximately $2,195,228.70. This represents a 18.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,341 shares of company stock worth $20,644,335 over the last 90 days. Company insiders own 0.69% of the company’s stock.

Amgen Stock Up 0.8 %

Shares of NASDAQ AMGN opened at $327.36 on Tuesday. 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 firm has a market capitalization of $175.86 billion, a price-to-earnings ratio of 43.36, a PEG ratio of 2.63 and a beta of 0.53. The stock has a 50 day moving average price of $287.50 and a 200 day moving average price of $299.50. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85.

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, topping 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%. Sell-side analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently announced 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. The ex-dividend date is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a yield of 2.91%. Amgen’s dividend payout ratio is currently 126.09%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AMGN. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $310.00 price objective on shares of Amgen in a report on Thursday, January 2nd. Truist Financial cut their price objective on Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $380.00 price objective on shares of Amgen in a report on Tuesday, November 12th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Amgen in a report on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $314.04.

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.