Citizens National Bank Trust Department Reduces Stock Position in Amgen Inc. (NASDAQ:AMGN)

Citizens National Bank Trust Department decreased its position in Amgen Inc. (NASDAQ:AMGN) by 4.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,344 shares of the medical research company’s stock after selling 410 shares during the quarter. Citizens National Bank Trust Department’s holdings in Amgen were worth $2,435,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp boosted its position in Amgen by 1.2% during the 3rd quarter. State Street Corp now owns 29,317,018 shares of the medical research company’s stock valued at $9,446,236,000 after acquiring an additional 345,537 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Amgen by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 12,122,889 shares of the medical research company’s stock worth $3,893,771,000 after buying an additional 103,851 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Amgen by 2.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,532,629 shares of the medical research company’s stock worth $3,393,718,000 after buying an additional 251,876 shares during the period. Janus Henderson Group PLC increased its stake in shares of Amgen by 11.7% in the 3rd quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock worth $1,657,183,000 after acquiring an additional 538,545 shares in the last quarter. Finally, Pathway Financial Advisers LLC lifted its position in Amgen by 33,125.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after acquiring an additional 4,446,757 shares during the period. 76.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on AMGN shares. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. Piper Sandler raised their price objective on Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Piper Sandler Companies reiterated an “overweight” rating and set a $310.00 price objective on shares of Amgen in a research note on Thursday, January 2nd. Bank of America increased their target price on Amgen from $256.00 to $275.00 and gave the stock an “underperform” rating in a research note on Thursday, February 6th. Finally, Citigroup lowered their price target on Amgen from $310.00 to $295.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $314.09.

Amgen Price Performance

NASDAQ AMGN opened at $294.27 on Thursday. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The firm has a market capitalization of $158.18 billion, a P/E ratio of 38.98, a PEG ratio of 2.53 and a beta of 0.56. The company has a 50-day moving average price of $275.15 and a 200-day moving average price of $300.77. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN) last released its quarterly 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 12.24% and a return on equity of 176.32%. Equities research analysts anticipate that Amgen Inc. will post 20.6 earnings per share for the current year.

Amgen Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be given a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a yield of 3.24%. Amgen’s payout ratio is 126.09%.

Insider Buying and Selling at Amgen

In other news, EVP Jonathan P. Graham sold 25,045 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $293.12, for a total transaction of $7,341,190.40. Following the completion of the transaction, the executive vice president now owns 28,987 shares in the company, valued at $8,496,669.44. This trade represents a 46.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Nancy A. Grygiel sold 1,589 shares of Amgen stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total value of $483,802.83. Following the completion of the sale, the senior vice president now directly owns 7,210 shares in the company, valued at $2,195,228.70. This trade represents a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,405 shares of company stock valued at $10,410,596. Company insiders own 0.69% of the company’s stock.

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.