Hilton Capital Management LLC Has $4.94 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Hilton Capital Management LLC cut its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 12.0% during the fourth quarter, Holdings Channel reports. The fund owned 18,941 shares of the medical research company’s stock after selling 2,586 shares during the period. Hilton Capital Management LLC’s holdings in Amgen were worth $4,937,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Swedbank AB raised its holdings in Amgen by 1.1% in the third quarter. Swedbank AB now owns 538,899 shares of the medical research company’s stock worth $173,639,000 after purchasing an additional 5,751 shares during the period. Harbour Investments Inc. raised its holdings in Amgen by 9.5% during the third quarter. Harbour Investments Inc. now owns 5,588 shares of the medical research company’s stock worth $1,801,000 after acquiring an additional 483 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Amgen in the 3rd quarter valued at approximately $876,000. MQS Management LLC acquired a new stake in shares of Amgen in the third quarter valued at approximately $219,000. Finally, Plato Investment Management Ltd grew its stake in Amgen by 4.1% in the 3rd quarter. Plato Investment Management Ltd now owns 18,708 shares of the medical research company’s stock valued at $6,022,000 after buying an additional 735 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on AMGN shares. Piper Sandler boosted their price objective on shares of Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Bank of America raised their target price on Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a research note on Wednesday, March 5th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Amgen in a research report on Wednesday, February 5th. Truist Financial decreased their price target on Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Finally, Redburn Partners dropped their price target on Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Amgen has a consensus rating of “Hold” and a consensus price target of $314.04.

Insider Activity at Amgen

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

Amgen Trading Up 0.0 %

NASDAQ AMGN opened at $312.64 on Friday. 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 cap of $167.95 billion, a PE ratio of 41.41, a P/E/G ratio of 2.63 and a beta of 0.53. The firm’s fifty day moving average is $290.77 and its two-hundred day moving average is $299.61. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85.

Amgen (NASDAQ:AMGN) last released 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%. Analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be given 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 dividend yield of 3.05%. Amgen’s payout ratio is currently 126.09%.

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.