Bay Colony Advisory Group Inc d b a Bay Colony Advisors Trims Position in Amgen Inc. (NASDAQ:AMGN)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors lessened its stake in Amgen Inc. (NASDAQ:AMGN) by 5.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 12,134 shares of the medical research company’s stock after selling 725 shares during the quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in Amgen were worth $3,163,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Ashton Thomas Private Wealth LLC increased its position in Amgen by 4.9% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 87,295 shares of the medical research company’s stock valued at $22,753,000 after purchasing an additional 4,087 shares during the period. Callan Family Office LLC increased its position in Amgen by 550.4% during the 4th quarter. Callan Family Office LLC now owns 13,945 shares of the medical research company’s stock valued at $3,635,000 after purchasing an additional 11,801 shares during the period. Welch & Forbes LLC increased its position in Amgen by 0.3% during the 4th quarter. Welch & Forbes LLC now owns 25,625 shares of the medical research company’s stock valued at $6,679,000 after purchasing an additional 70 shares during the period. E Fund Management Co. Ltd. increased its position in Amgen by 28.5% during the 4th quarter. E Fund Management Co. Ltd. now owns 12,382 shares of the medical research company’s stock valued at $3,227,000 after purchasing an additional 2,748 shares during the period. Finally, Ethos Financial Group LLC increased its position in Amgen by 133.8% during the 4th quarter. Ethos Financial Group LLC now owns 1,613 shares of the medical research company’s stock valued at $420,000 after purchasing an additional 923 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

NASDAQ:AMGN opened at $317.82 on Friday. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. The firm has a market cap of $170.73 billion, a price-to-earnings ratio of 42.10, a price-to-earnings-growth ratio of 2.63 and a beta of 0.56. The company has a 50 day moving average price of $284.89 and a 200-day moving average price of $299.91. Amgen Inc. has a 1-year low of $253.30 and a 1-year 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, beating the consensus estimate of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. Equities research analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The business 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 $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s payout ratio is presently 126.09%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Truist Financial cut their target price on shares of Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Wolfe Research started coverage on shares of Amgen in a report on Friday, November 15th. They issued a “peer perform” rating on the stock. Jefferies Financial Group restated a “buy” rating and issued a $380.00 price target on shares of Amgen in a report on Tuesday, November 12th. Bank of America raised their price target on shares of Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a report on Wednesday. Finally, StockNews.com cut shares of Amgen from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $314.95.

Insider Buying and Selling

In other news, 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 completion of the sale, the executive vice president now owns 28,987 shares of the company’s stock, valued at $8,496,669.44. This represents a 46.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David M. Reese sold 8,711 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $293.22, for a total transaction of $2,554,239.42. Following the transaction, the executive vice president now directly owns 62,147 shares in the company, valued at approximately $18,222,743.34. The trade was a 12.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,341 shares of company stock valued at $20,644,335. 0.69% of the stock is owned by corporate insiders.

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.