Stokes Family Office LLC Sells 5,219 Shares of Amgen Inc. (NASDAQ:AMGN)

Stokes Family Office LLC trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 75.1% during the 4th quarter, Holdings Channel reports. The fund owned 1,731 shares of the medical research company’s stock after selling 5,219 shares during the period. Stokes Family Office LLC’s holdings in Amgen were worth $498,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new stake in shares of Amgen in the 4th quarter valued at about $4,589,900,000. Assenagon Asset Management S.A. boosted its holdings in shares of Amgen by 486.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 899,232 shares of the medical research company’s stock valued at $258,997,000 after buying an additional 745,929 shares in the last quarter. abrdn plc raised its position in shares of Amgen by 150.4% in the 4th quarter. abrdn plc now owns 1,043,609 shares of the medical research company’s stock valued at $300,580,000 after purchasing an additional 626,810 shares during the last quarter. Los Angeles Capital Management LLC raised its position in shares of Amgen by 111.9% in the 4th quarter. Los Angeles Capital Management LLC now owns 989,061 shares of the medical research company’s stock valued at $284,869,000 after purchasing an additional 522,367 shares during the last quarter. Finally, Royal Bank of Canada raised its position in shares of Amgen by 11.4% in the 3rd quarter. Royal Bank of Canada now owns 5,079,677 shares of the medical research company’s stock valued at $1,365,213,000 after purchasing an additional 518,689 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors.

Amgen Price Performance

Amgen stock traded up $32.90 during trading on Friday, reaching $311.29. The company had a trading volume of 9,644,682 shares, compared to its average volume of 2,279,398. Amgen Inc. has a 1-year low of $211.71 and a 1-year high of $329.72. The company has a debt-to-equity ratio of 10.14, a quick ratio of 1.13 and a current ratio of 1.65. The firm’s 50-day simple moving average is $274.51 and its 200 day simple moving average is $281.33. The firm has a market capitalization of $166.97 billion, a PE ratio of 44.47, a price-to-earnings-growth ratio of 2.69 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Thursday, May 2nd. The medical research company reported $3.96 EPS for the quarter, topping the consensus estimate of $3.76 by $0.20. The business had revenue of $7.45 billion for the quarter, compared to analyst estimates of $7.45 billion. Amgen had a return on equity of 145.62% and a net margin of 12.74%. The company’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.98 EPS. As a group, equities research analysts anticipate that Amgen Inc. will post 19.43 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be issued a $2.25 dividend. The ex-dividend date is Thursday, May 16th. This represents a $9.00 annualized dividend and a yield of 2.89%. Amgen’s dividend payout ratio (DPR) is currently 128.57%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AMGN. The Goldman Sachs Group increased their price objective on shares of Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Leerink Partnrs lowered shares of Amgen from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 7th. TD Cowen reduced their price target on shares of Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. Oppenheimer reissued an “outperform” rating and set a $350.00 price target on shares of Amgen in a research report on Thursday, February 1st. Finally, Morgan Stanley raised their price target on shares of Amgen from $271.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Friday. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $305.05.

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 2,117 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $313.09, for a total value of $662,811.53. Following the sale, the senior vice president now directly owns 9,883 shares in the company, valued at approximately $3,094,268.47. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.46% of the stock is owned by insiders.

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.