Doheny Asset Management CA Decreases Holdings in Amgen Inc. (NASDAQ:AMGN)

Doheny Asset Management CA trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 5.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,755 shares of the medical research company’s stock after selling 100 shares during the period. Doheny Asset Management CA’s holdings in Amgen were worth $457,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Swedbank AB lifted its holdings in Amgen by 1.1% in the 3rd quarter. Swedbank AB now owns 538,899 shares of the medical research company’s stock worth $173,639,000 after buying an additional 5,751 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Amgen in the 3rd quarter worth $876,000. MQS Management LLC acquired a new position in Amgen in the 3rd quarter worth $219,000. OneDigital Investment Advisors LLC lifted its holdings in Amgen by 4.4% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 18,899 shares of the medical research company’s stock worth $6,090,000 after buying an additional 801 shares in the last quarter. Finally, Oak Harbor Wealth Partners LLC lifted its holdings in Amgen by 9.1% in the 3rd quarter. Oak Harbor Wealth Partners LLC now owns 1,493 shares of the medical research company’s stock worth $481,000 after buying an additional 124 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP David M. Reese sold 8,711 shares of the stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 62,147 shares of the company’s stock, valued at $18,222,743.34. This represents a 12.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Nancy A. Grygiel sold 1,589 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,341 shares of company stock worth $20,644,335 over the last three months. Corporate insiders own 0.69% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on AMGN. Leerink Partners cut their price objective on shares of Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Bank of America upped their target price on shares of Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a research note on Wednesday, March 5th. Citigroup restated a “neutral” rating on shares of Amgen in a research note on Wednesday, February 5th. Johnson Rice set a $294.00 target price on shares of Amgen in a research note on Wednesday, March 5th. Finally, Redburn Partners cut their target price on shares of Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Amgen has an average rating of “Hold” and an average target price of $314.04.

Amgen Trading Up 0.3 %

Amgen stock opened at $313.71 on Friday. The firm has a 50 day simple moving average of $291.82 and a 200-day simple moving average of $299.52. 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 stock has a market capitalization of $168.53 billion, a PE ratio of 41.55, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) 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%. As a group, equities research analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

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 $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s dividend payout ratio (DPR) is presently 126.09%.

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.