Private Advisor Group LLC Sells 5,009 Shares of Amgen Inc. (NASDAQ:AMGN)

Private Advisor Group LLC decreased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 8.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 53,261 shares of the medical research company’s stock after selling 5,009 shares during the period. Private Advisor Group LLC’s holdings in Amgen were worth $13,882,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Capital Performance Advisors LLP bought a new position in Amgen during the 3rd quarter valued at approximately $25,000. Legacy Investment Solutions LLC bought a new position in shares of Amgen during the third quarter valued at $29,000. Heck Capital Advisors LLC purchased a new position in shares of Amgen in the 4th quarter worth about $36,000. PrairieView Partners LLC grew its position in Amgen by 118.3% during the 4th quarter. PrairieView Partners LLC now owns 179 shares of the medical research company’s stock valued at $46,000 after purchasing an additional 97 shares during the last quarter. Finally, Bank of Jackson Hole Trust purchased a new position in Amgen in the fourth quarter worth about $50,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Amgen

In related news, EVP Murdo Gordon sold 8,771 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $294.79, for a total value of $2,585,603.09. Following the completion of the transaction, the executive vice president now directly owns 44,186 shares of the company’s stock, valued at approximately $13,025,590.94. This trade represents a 16.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jonathan P. Graham sold 25,045 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 28,987 shares in the company, valued at approximately $8,496,669.44. The trade was a 46.35 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,405 shares of company stock worth $10,410,596. Insiders own 0.69% of the company’s stock.

Amgen Stock Performance

NASDAQ AMGN opened at $294.27 on Thursday. 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 twelve month low of $253.30 and a twelve month high of $346.85. The business has a 50-day moving average price of $275.15 and a 200-day moving average price of $300.77. The firm has a market cap of $158.18 billion, a price-to-earnings ratio of 38.98, a price-to-earnings-growth ratio of 2.53 and a beta of 0.56.

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 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, equities research analysts predict that Amgen Inc. will post 20.6 EPS for the current fiscal year.

Amgen Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be paid a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.24%. This is a boost from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. Amgen’s dividend payout ratio (DPR) is presently 126.09%.

Wall Street Analyst Weigh In

Several research firms have issued reports on AMGN. Piper Sandler upped their target price on shares of Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. Piper Sandler Companies reiterated an “overweight” rating and set a $310.00 target price on shares of Amgen in a research note on Thursday, January 2nd. Bank of America raised their price target on Amgen from $256.00 to $275.00 and gave the stock an “underperform” rating in a research note on Thursday, February 6th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $380.00 price objective on shares of Amgen in a research report on Tuesday, November 12th. Two 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 issued a strong buy rating to the stock. According to data from MarketBeat, Amgen has an average rating of “Hold” and a consensus price target of $314.09.

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.