Mitsubishi UFJ Trust & Banking Corp Trims Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Mitsubishi UFJ Trust & Banking Corp lowered its stake in Amgen Inc. (NASDAQ:AMGN) by 17.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 270,089 shares of the medical research company’s stock after selling 55,663 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.05% of Amgen worth $70,396,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Legacy Investment Solutions LLC purchased a new stake in Amgen in the 3rd quarter worth $29,000. Centricity Wealth Management LLC purchased a new stake in Amgen during the 4th quarter valued at approximately $25,000. Synergy Investment Management LLC bought a new stake in shares of Amgen during the fourth quarter valued at approximately $34,000. Atala Financial Inc purchased a new position in shares of Amgen in the fourth quarter worth $34,000. Finally, Heck Capital Advisors LLC bought a new position in shares of Amgen during the fourth quarter worth $36,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Amgen

In related news, EVP Jonathan P. Graham sold 25,045 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $293.12, for a total value of $7,341,190.40. Following the transaction, the executive vice president now directly owns 28,987 shares of the company’s stock, valued at $8,496,669.44. This represents a 46.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Nancy A. Grygiel sold 1,589 shares of Amgen stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total value of $483,802.83. Following the sale, the senior vice president now directly 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 69,341 shares of company stock valued at $20,644,335 in the last three months. 0.69% of the stock is owned by insiders.

Amgen Trading Down 2.4 %

NASDAQ:AMGN opened at $306.86 on Wednesday. The stock has a market capitalization of $164.85 billion, a price-to-earnings ratio of 40.64, a PEG ratio of 2.63 and a beta of 0.53. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The firm has a 50 day moving average of $298.92 and a 200 day moving average of $298.41.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data 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 return on equity of 176.32% and a net margin of 12.24%. As a group, sell-side analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

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 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 dividend yield of 3.10%. Amgen’s dividend payout ratio (DPR) is currently 126.09%.

Analyst Ratings Changes

AMGN has been the subject of several research reports. Truist Financial dropped their price objective on shares of Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Johnson Rice set a $294.00 target price on shares of Amgen in a research report on Wednesday, March 5th. Bank of America lifted their price target on Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a research report on Wednesday, March 5th. Citigroup restated a “neutral” rating on shares of Amgen in a research report on Wednesday, February 5th. Finally, UBS Group reiterated a “hold” rating on shares of Amgen in a report on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock 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.