Amgen Inc. (NASDAQ:AMGN) Shares Sold by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 0.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 108,272 shares of the medical research company’s stock after selling 553 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Amgen were worth $28,220,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Centricity Wealth Management LLC purchased a new position in Amgen in the 4th quarter worth about $25,000. Ritter Daniher Financial Advisory LLC DE boosted its holdings in shares of Amgen by 66.2% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock worth $33,000 after buying an additional 51 shares during the period. Synergy Investment Management LLC purchased a new position in shares of Amgen in the fourth quarter worth approximately $34,000. Atala Financial Inc acquired a new stake in shares of Amgen during the fourth quarter valued at approximately $34,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of Amgen in the 4th quarter valued at approximately $36,000. 76.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on AMGN shares. Piper Sandler lifted their price objective on shares of Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Royal Bank of Canada dropped their price target on Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Wells Fargo & Company restated an “equal weight” rating on shares of Amgen in a research report on Wednesday, February 5th. StockNews.com raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 2nd. Finally, Cantor Fitzgerald initiated coverage on shares of Amgen in a research report on Tuesday, April 22nd. They set a “neutral” rating and a $305.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $308.18.

Insider Buying and Selling at Amgen

In other news, EVP David M. Reese sold 25,225 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the sale, the executive vice president now directly owns 36,922 shares in the company, valued at approximately $11,240,533.68. The trade was a 40.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Jonathan P. Graham sold 25,045 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $293.12, for a total value of $7,341,190.40. Following the completion of the transaction, the executive vice president now directly owns 28,987 shares of the company’s stock, valued at approximately $8,496,669.44. This trade represents a 46.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,752 shares of company stock valued at $20,160,532 in the last quarter. Corporate insiders own 0.69% of the company’s stock.

Amgen Stock Performance

NASDAQ:AMGN opened at $270.56 on Wednesday. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The firm’s fifty day simple moving average is $298.42 and its 200 day simple moving average is $290.64. The firm has a market capitalization of $145.47 billion, a PE ratio of 35.84, a PEG ratio of 2.63 and a beta of 0.51.

Amgen (NASDAQ:AMGN) last announced its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.18 by $0.72. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The business had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. During the same quarter in the previous year, the firm posted $3.96 earnings per share. Amgen’s revenue was up 9.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be paid a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 annualized dividend and a yield of 3.52%. Amgen’s dividend payout ratio is 86.86%.

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.