Peapack Gladstone Financial Corp Sells 2,078 Shares of Amgen Inc. (NASDAQ:AMGN)

Peapack Gladstone Financial Corp reduced its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 113,768 shares of the medical research company’s stock after selling 2,078 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Amgen were worth $29,653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of AMGN. Norges Bank bought a new stake in shares of Amgen in the fourth quarter worth approximately $1,541,991,000. Charles Schwab Investment Management Inc. boosted its holdings in Amgen by 25.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company’s stock worth $3,441,909,000 after purchasing an additional 2,672,975 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Amgen in the 4th quarter worth approximately $401,913,000. Franklin Resources Inc. raised its stake in Amgen by 52.7% during the 4th quarter. Franklin Resources Inc. now owns 3,291,975 shares of the medical research company’s stock valued at $858,020,000 after buying an additional 1,135,884 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of Amgen by 263.8% during the 4th quarter. Van ECK Associates Corp now owns 1,038,593 shares of the medical research company’s stock valued at $270,699,000 after buying an additional 753,147 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AMGN has been the subject of a number of research reports. StockNews.com upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 29th. Piper Sandler Companies reaffirmed an “overweight” rating and set a $310.00 price target on shares of Amgen in a research report on Thursday, January 2nd. Citigroup reissued a “neutral” rating on shares of Amgen in a report on Wednesday, February 5th. 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 report on Monday, February 10th. Finally, Truist Financial dropped their price target on shares of Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $314.04.

Insider Transactions at Amgen

In related news, SVP Nancy A. Grygiel sold 1,589 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total value 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. The trade was a 18.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP David M. Reese sold 8,711 shares of the stock in a transaction 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 transaction, the executive vice president now owns 62,147 shares of the company’s stock, valued at $18,222,743.34. This trade represents a 12.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,341 shares of company stock valued at $20,644,335 in the last ninety days. Corporate insiders own 0.69% of the company’s stock.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $294.39 on Friday. The firm has a market cap of $158.15 billion, a price-to-earnings ratio of 38.99, a P/E/G ratio of 2.63 and a beta of 0.53. The firm has a fifty day moving average price of $304.18 and a 200 day moving average price of $297.24. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 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, sell-side analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be paid a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s payout ratio is 126.09%.

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.