Amgen Inc. (NASDAQ:AMGN) Shares Sold by Todd Asset Management LLC

Todd Asset Management LLC decreased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 0.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 136,163 shares of the medical research company’s stock after selling 1,259 shares during the quarter. Amgen accounts for approximately 0.9% of Todd Asset Management LLC’s portfolio, making the stock its 26th largest holding. Todd Asset Management LLC’s holdings in Amgen were worth $39,218,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. BIP Wealth LLC raised its holdings in shares of Amgen by 2.6% in the 4th quarter. BIP Wealth LLC now owns 1,249 shares of the medical research company’s stock worth $360,000 after purchasing an additional 32 shares during the period. Southland Equity Partners LLC raised its holdings in shares of Amgen by 2.3% during the 4th quarter. Southland Equity Partners LLC now owns 1,538 shares of the medical research company’s stock valued at $443,000 after buying an additional 34 shares during the period. Acropolis Investment Management LLC raised its holdings in shares of Amgen by 3.5% during the 4th quarter. Acropolis Investment Management LLC now owns 999 shares of the medical research company’s stock valued at $288,000 after buying an additional 34 shares during the period. Opal Wealth Advisors LLC raised its holdings in shares of Amgen by 1.9% during the 4th quarter. Opal Wealth Advisors LLC now owns 1,868 shares of the medical research company’s stock valued at $538,000 after buying an additional 34 shares during the period. Finally, Marino Stram & Associates LLC raised its holdings in shares of Amgen by 0.7% during the 4th quarter. Marino Stram & Associates LLC now owns 4,626 shares of the medical research company’s stock valued at $1,332,000 after buying an additional 34 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Insider Activity at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $313.09, for a total transaction of $662,811.53. Following the completion of the transaction, the senior vice president now owns 9,883 shares in the company, valued at approximately $3,094,268.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on AMGN shares. The Goldman Sachs Group raised their target price on Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. TD Cowen dropped their target price on Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. Morgan Stanley lifted their price objective on Amgen from $271.00 to $310.00 and gave the stock an “equal weight” rating in a report on Friday. UBS Group lifted their price objective on Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a report on Friday. Finally, SVB Leerink downgraded Amgen from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $324.00 to $318.00 in a report on Wednesday, February 7th. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $305.05.

Amgen Stock Performance

Shares of AMGN traded up $32.90 during mid-day trading on Friday, hitting $311.29. The stock had a trading volume of 9,644,682 shares, compared to its average volume of 2,279,398. The company has a market cap of $166.97 billion, a PE ratio of 44.47, a PEG ratio of 3.01 and a beta of 0.60. The company’s fifty day simple moving average is $274.95 and its two-hundred day simple moving average is $281.50. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 10.14. Amgen Inc. has a fifty-two week low of $211.71 and a fifty-two week high of $329.72.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.76 by $0.20. Amgen had a return on equity of 145.62% and a net margin of 12.74%. The business had revenue of $7.45 billion during the quarter, compared to analyst estimates of $7.45 billion. During the same quarter in the previous year, the firm posted $3.98 EPS. The business’s revenue for the quarter was up 22.0% compared to the same quarter last year. On average, equities analysts expect that Amgen Inc. will post 19.46 earnings per share for the current year.

Amgen Announces Dividend

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 given a dividend of $2.25 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $9.00 dividend on an annualized basis and a yield of 2.89%. Amgen’s dividend payout ratio is currently 128.57%.

About Amgen

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.