Amgen Inc. (NASDAQ:AMGN) Position Cut by Arlington Financial Advisors LLC

Arlington Financial Advisors LLC lowered its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 3.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,831 shares of the medical research company’s stock after selling 945 shares during the period. Amgen makes up 1.2% of Arlington Financial Advisors LLC’s holdings, making the stock its 25th largest position. Arlington Financial Advisors LLC’s holdings in Amgen were worth $6,211,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in AMGN. Capital Performance Advisors LLP bought a new stake in Amgen during the third quarter worth approximately $25,000. Legacy Investment Solutions LLC bought a new stake in shares of Amgen in the 3rd quarter worth $29,000. Heck Capital Advisors LLC acquired a new stake in shares of Amgen in the fourth quarter valued at $36,000. Livelsberger Financial Advisory bought a new position in Amgen during the third quarter valued at about $56,000. Finally, Kennebec Savings Bank acquired a new position in Amgen during the third quarter worth about $57,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Trading Down 1.4 %

NASDAQ AMGN opened at $293.54 on Friday. The company has a market capitalization of $157.79 billion, a PE ratio of 37.59, a price-to-earnings-growth ratio of 2.87 and a beta of 0.56. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The firm’s fifty day simple moving average is $272.04 and its 200-day simple moving average is $303.51.

Amgen (NASDAQ:AMGN) last posted its quarterly 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 168.35% and a net margin of 13.00%. As a group, sell-side analysts anticipate that Amgen Inc. will post 19.56 earnings per share for the current fiscal year.

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be issued a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.24%. This is an increase from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio (DPR) is currently 115.24%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on AMGN shares. Royal Bank of Canada reissued an “outperform” rating and issued a $324.00 price target on shares of Amgen in a report on Friday, January 24th. Citigroup reduced their target price on shares of Amgen from $310.00 to $295.00 and set a “neutral” rating for the company in a report on Tuesday, January 28th. Piper Sandler decreased their price target on shares of Amgen from $344.00 to $310.00 and set an “overweight” rating on the stock in a research report on Thursday, January 2nd. Piper Sandler Companies reiterated an “overweight” rating and set a $310.00 price objective on shares of Amgen in a research report on Thursday, January 2nd. Finally, UBS Group decreased their target price on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $313.23.

Insider Activity at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,589 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total transaction of $483,802.83. Following the transaction, the senior vice president now directly owns 7,210 shares in the company, valued at $2,195,228.70. This trade represents a 18.06 % 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. 0.69% of the stock is owned by company insiders.

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.