Amgen Inc. (NASDAQ:AMGN) Stake Lessened by Gallacher Capital Management LLC

Gallacher Capital Management LLC decreased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 7.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 952 shares of the medical research company’s stock after selling 80 shares during the quarter. Gallacher Capital Management LLC’s holdings in Amgen were worth $274,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Briaud Financial Planning Inc purchased a new position in Amgen during the 3rd quarter valued at about $26,000. BOK Financial Private Wealth Inc. purchased a new position in Amgen during the fourth quarter valued at approximately $29,000. OFI Invest Asset Management acquired a new position in Amgen in the 3rd quarter valued at approximately $26,000. Planned Solutions Inc. purchased a new stake in Amgen in the 4th quarter worth approximately $30,000. Finally, Providence Capital Advisors LLC purchased a new position in shares of Amgen during the 3rd quarter valued at $30,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on AMGN shares. Truist Financial reiterated a “buy” rating and set a $320.00 price objective on shares of Amgen in a report on Friday, April 12th. BMO Capital Markets boosted their price target on Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a research note on Friday. Raymond James initiated coverage on shares of Amgen in a research report on Thursday, March 28th. They set a “market perform” rating on the stock. StockNews.com raised shares of Amgen from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Leerink Partnrs lowered shares of Amgen from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 7th. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Amgen has an average rating of “Moderate Buy” and a consensus price target of $305.05.

Insiders Place Their Bets

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 9,883 shares in the company, valued at $3,094,268.47. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.69% of the company’s stock.

Amgen Stock Performance

Shares of Amgen stock traded down $11.81 during midday trading on Monday, hitting $299.48. The company had a trading volume of 4,712,696 shares, compared to its average volume of 2,901,227. The stock has a market cap of $160.64 billion, a PE ratio of 44.47, a P/E/G ratio of 3.00 and a beta of 0.60. Amgen Inc. has a 1-year low of $211.71 and a 1-year high of $329.72. The business’s 50 day simple moving average is $274.95 and its two-hundred day simple moving average is $281.46. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.42 and a quick ratio of 0.98.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.76 by $0.20. The company had revenue of $7.45 billion for the quarter, compared to analyst estimates of $7.45 billion. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The business’s quarterly revenue was up 22.0% on a year-over-year basis. During the same period last year, the business posted $3.98 EPS. As a group, equities analysts predict that Amgen Inc. will post 19.46 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be given a $2.25 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.01%. Amgen’s dividend payout ratio is currently 128.57%.

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.