Amgen Inc. (NASDAQ:AMGN) Shares Sold by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. cut its stake in Amgen Inc. (NASDAQ:AMGN) by 0.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,258 shares of the medical research company’s stock after selling 155 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Amgen were worth $4,237,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of AMGN. Larson Financial Group LLC raised its position in Amgen by 29.2% in the third quarter. Larson Financial Group LLC now owns 1,021 shares of the medical research company’s stock valued at $329,000 after purchasing an additional 231 shares during the period. Fisher Asset Management LLC raised its holdings in Amgen by 21.3% in the 3rd quarter. Fisher Asset Management LLC now owns 102,352 shares of the medical research company’s stock valued at $32,979,000 after buying an additional 17,974 shares during the period. DRW Securities LLC acquired a new position in Amgen in the third quarter valued at about $244,000. Loomis Sayles & Co. L P boosted its stake in Amgen by 6.6% during the third quarter. Loomis Sayles & Co. L P now owns 854 shares of the medical research company’s stock worth $275,000 after buying an additional 53 shares during the period. Finally, Qsemble Capital Management LP acquired a new stake in shares of Amgen during the third quarter valued at about $230,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

Amgen stock opened at $306.86 on Wednesday. The stock has a market cap of $164.85 billion, a P/E ratio of 40.64, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53. The stock has a 50 day moving average of $298.92 and a 200-day moving average of $298.41. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, beating analysts’ consensus estimates of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. On average, 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. Investors of record on Friday, May 16th will be paid 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 yield of 3.10%. Amgen’s payout ratio is currently 126.09%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on AMGN shares. StockNews.com cut shares of Amgen from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Wells Fargo & Company restated an “equal weight” rating on shares of Amgen in a research report on Wednesday, February 5th. UBS Group reiterated a “hold” rating on shares of Amgen in a report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft lowered their target price on Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. Finally, Piper Sandler Companies reiterated an “overweight” rating and set a $310.00 price target on shares of Amgen in a research note on Thursday, January 2nd. Two 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 stock. According to data from MarketBeat, Amgen presently has an average rating of “Hold” and a consensus price target of $314.04.

Insiders Place Their Bets

In related news, EVP Murdo Gordon sold 8,771 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $294.79, for a total value of $2,585,603.09. Following the sale, the executive vice president now directly owns 44,186 shares in the company, valued at $13,025,590.94. This trade represents a 16.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Nancy A. Grygiel sold 1,589 shares of Amgen stock in a transaction dated 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 owns 7,210 shares in the company, 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 have sold 69,341 shares of company stock valued at $20,644,335 over the last three months. Company insiders own 0.69% of the company’s stock.

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.