Insigneo Advisory Services LLC Trims Stake in Amgen Inc. (NASDAQ:AMGN)

Insigneo Advisory Services LLC lessened its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 7.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 3,468 shares of the medical research company’s stock after selling 275 shares during the quarter. Insigneo Advisory Services LLC’s holdings in Amgen were worth $904,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Amgen by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 52,721,795 shares of the medical research company’s stock valued at $13,741,409,000 after acquiring an additional 339,522 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Amgen by 25.4% in the 4th 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 buying an additional 2,672,975 shares during the last quarter. Geode Capital Management LLC lifted its position in Amgen by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 12,475,032 shares of the medical research company’s stock valued at $3,245,881,000 after acquiring an additional 352,143 shares during the last quarter. Norges Bank acquired a new stake in Amgen during the 4th quarter worth about $1,541,991,000. Finally, Invesco Ltd. grew its stake in Amgen by 7.5% during the 4th quarter. Invesco Ltd. now owns 3,887,248 shares of the medical research company’s stock valued at $1,013,172,000 after purchasing an additional 270,135 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Nancy A. Grygiel sold 1,589 shares of the business’s 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 transaction, the senior vice president now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Jonathan P. Graham sold 25,045 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 28,987 shares of the company’s stock, valued at approximately $8,496,669.44. This represents a 46.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,341 shares of company stock valued at $20,644,335 in the last 90 days. 0.69% of the stock is owned by insiders.

Analysts Set New Price Targets

AMGN has been the subject of a number of research reports. Johnson Rice set a $294.00 target price on Amgen in a report on Wednesday, March 5th. UBS Group lifted their price objective on shares of Amgen from $315.00 to $319.00 and gave the company a “neutral” rating in a research note on Monday. Truist Financial cut their price objective 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $324.00 price target on shares of Amgen in a report on Friday, January 24th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Amgen in a research report on Wednesday, February 5th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $314.91.

Amgen Stock Down 4.3 %

AMGN opened at $282.64 on Thursday. The company has a market cap of $151.96 billion, a PE ratio of 37.44, a price-to-earnings-growth ratio of 2.63 and a beta of 0.59. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The company has a 50-day moving average price of $303.78 and a 200 day moving average price of $294.82. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, beating analysts’ consensus estimates of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. 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 issued a $2.38 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a yield of 3.37%. Amgen’s payout ratio is currently 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.