Amgen Inc. (NASDAQ:AMGN) Position Decreased by Prairie Wealth Advisors Inc.

Prairie Wealth Advisors Inc. reduced its holdings in Amgen Inc. (NASDAQ:AMGN) by 17.8% during the fourth quarter, Holdings Channel reports. The firm owned 1,545 shares of the medical research company’s stock after selling 335 shares during the period. Prairie Wealth Advisors Inc.’s holdings in Amgen were worth $403,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AMGN. Fairvoy Private Wealth LLC bought a new position in shares of Amgen in the fourth quarter valued at $819,000. Keystone Financial Group Inc. acquired a new position in shares of Amgen in the 4th quarter worth $238,000. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Amgen by 1.2% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,594,828 shares of the medical research company’s stock worth $415,676,000 after purchasing an additional 19,053 shares during the period. Strategic Financial Concepts LLC acquired a new position in shares of Amgen in the 4th quarter valued at $9,313,000. Finally, Consolidated Portfolio Review Corp purchased a new position in Amgen in the 4th quarter worth about $1,216,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on AMGN. Redburn Partners reduced their price objective on shares of Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. William Blair restated an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. Piper Sandler lowered their price objective on shares of Amgen from $344.00 to $310.00 and set an “overweight” rating on the stock in a research report on Thursday, January 2nd. Royal Bank of Canada reissued an “outperform” rating and set a $324.00 target price on shares of Amgen in a research note on Friday, January 24th. Finally, Wolfe Research began coverage on Amgen in a report on Friday, November 15th. They set a “peer perform” rating on the stock. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $314.83.

Amgen Trading Down 3.3 %

Shares of NASDAQ AMGN opened at $297.78 on Friday. The company has a market cap of $160.07 billion, a PE ratio of 38.13, a P/E/G ratio of 2.87 and a beta of 0.56. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The company has a 50-day moving average of $271.69 and a two-hundred day moving average of $303.55.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, topping the consensus estimate of $5.04 by $0.27. Amgen had a net margin of 13.00% and a return on equity of 168.35%. As a group, equities analysts expect that Amgen Inc. will post 19.56 earnings per share for the current fiscal year.

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be issued a dividend of $2.38 per share. This is an increase from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. This represents a $9.52 annualized dividend and a yield of 3.20%. Amgen’s dividend payout ratio (DPR) is currently 126.09%.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 1,589 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total transaction of $483,802.83. Following the sale, the senior vice president now owns 7,210 shares of the company’s stock, valued at $2,195,228.70. This trade represents a 18.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.69% of the stock is owned by company insiders.

Amgen 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.