Advisors Asset Management Inc. Cuts Holdings in Amgen Inc. (NASDAQ:AMGN)

Advisors Asset Management Inc. trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 0.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 110,446 shares of the medical research company’s stock after selling 1,046 shares during the period. Amgen comprises 0.5% of Advisors Asset Management Inc.’s investment portfolio, making the stock its 20th biggest holding. Advisors Asset Management Inc.’s holdings in Amgen were worth $28,787,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Legacy Investment Solutions LLC purchased a new position in shares of Amgen during the 3rd quarter worth approximately $29,000. Centricity Wealth Management LLC purchased a new position in shares of Amgen during the 4th quarter worth approximately $25,000. Synergy Investment Management LLC purchased a new position in shares of Amgen during the 4th quarter worth approximately $34,000. Atala Financial Inc purchased a new position in shares of Amgen during the 4th quarter worth approximately $34,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of Amgen during the 4th quarter worth approximately $36,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Trading Up 1.1 %

Shares of AMGN opened at $317.17 on Tuesday. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The firm has a market capitalization of $170.39 billion, a P/E ratio of 42.01, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53. The stock’s fifty day simple moving average is $292.99 and its 200 day simple moving average is $299.02. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85.

Amgen (NASDAQ:AMGN) last issued 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 return on equity of 176.32% and a net margin of 12.24%. On average, equities research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be given a $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 3.00%. The ex-dividend date is Friday, May 16th. Amgen’s dividend payout ratio (DPR) is currently 126.09%.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,589 shares of the firm’s 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 transaction, the senior vice president now directly owns 7,210 shares of the company’s stock, valued at $2,195,228.70. This trade represents a 18.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jonathan P. Graham sold 25,045 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were 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 in the company, valued at $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. In the last ninety days, insiders have sold 69,341 shares of company stock valued at $20,644,335. 0.69% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on AMGN shares. Truist Financial dropped their price objective on Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. StockNews.com downgraded 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 note on Wednesday, February 12th. Redburn Partners dropped their price objective on Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Amgen in a research note on Wednesday, February 5th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $314.04.

About Amgen

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.