Amgen Inc. (NASDAQ:AMGN) Stock Position Decreased by Balboa Wealth Partners

Balboa Wealth Partners trimmed its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 47.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 949 shares of the medical research company’s stock after selling 848 shares during the period. Balboa Wealth Partners’ holdings in Amgen were worth $247,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Swedbank AB boosted its position in Amgen by 1.1% during the 3rd quarter. Swedbank AB now owns 538,899 shares of the medical research company’s stock worth $173,639,000 after acquiring an additional 5,751 shares during the period. Harbour Investments Inc. boosted its holdings in shares of Amgen by 9.5% during the third quarter. Harbour Investments Inc. now owns 5,588 shares of the medical research company’s stock worth $1,801,000 after purchasing an additional 483 shares during the period. GSA Capital Partners LLP purchased a new position in Amgen during the third quarter valued at approximately $876,000. MQS Management LLC acquired a new position in Amgen in the 3rd quarter valued at approximately $219,000. Finally, Plato Investment Management Ltd lifted its position in Amgen by 4.1% in the 3rd quarter. Plato Investment Management Ltd now owns 18,708 shares of the medical research company’s stock worth $6,022,000 after buying an additional 735 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. StockNews.com downgraded shares of Amgen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. UBS Group reaffirmed a “hold” rating on shares of Amgen in a research report on Wednesday, February 12th. Citigroup reiterated a “neutral” rating on shares of Amgen in a report on Wednesday, February 5th. Piper Sandler Companies restated an “overweight” rating and issued a $310.00 price objective on shares of Amgen in a report on Thursday, January 2nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $324.00 target price on shares of Amgen in a research note on Friday, January 24th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has assigned 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 target price of $314.04.

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 69,341 shares of company stock valued at $20,644,335 in the last quarter. Corporate insiders own 0.69% of the company’s stock.

Amgen Stock Up 0.0 %

AMGN opened at $312.64 on Friday. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The business has a 50 day moving average of $290.77 and a 200-day moving average of $299.61. The stock has a market capitalization of $167.95 billion, a price-to-earnings ratio of 41.41, a P/E/G ratio of 2.63 and a beta of 0.53. 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 (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, beating analysts’ consensus estimates of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. As a group, sell-side analysts anticipate that Amgen Inc. will post 20.62 earnings per share 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 is Friday, May 16th. This represents a $9.52 annualized dividend and a yield of 3.05%. Amgen’s dividend payout ratio is 126.09%.

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.