Harbour Investments Inc. Trims Holdings in Amgen Inc. (NASDAQ:AMGN)

Harbour Investments Inc. decreased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 4.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 5,357 shares of the medical research company’s stock after selling 231 shares during the period. Harbour Investments Inc.’s holdings in Amgen were worth $1,396,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Centricity Wealth Management LLC purchased a new position in shares of Amgen during the 4th quarter worth approximately $25,000. Legacy Investment Solutions LLC bought a new stake in shares of Amgen in the 3rd quarter worth approximately $29,000. Synergy Investment Management LLC bought a new stake in shares of Amgen in the 4th quarter worth approximately $34,000. Atala Financial Inc bought a new stake in shares of Amgen in the 4th quarter worth approximately $34,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of Amgen in the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

AMGN has been the topic of a number of analyst reports. Johnson Rice set a $294.00 price target on Amgen in a research report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft dropped their price target on Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Leerink Partners lowered their price objective on Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $310.00 price objective on shares of Amgen in a research report on Thursday, January 2nd. Finally, Redburn Partners lowered their price objective on Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $314.04.

Amgen Trading Up 0.5 %

NASDAQ:AMGN opened at $318.65 on Wednesday. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. The firm has a market capitalization of $171.18 billion, a price-to-earnings ratio of 42.21, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The business has a fifty day moving average price of $294.12 and a 200-day moving average price of $298.91.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 EPS 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%. Sell-side analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be paid a $2.38 dividend. The ex-dividend date is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a yield of 2.99%. Amgen’s payout ratio is presently 126.09%.

Insiders Place Their Bets

In other Amgen news, EVP Murdo Gordon sold 8,771 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $294.79, for a total value of $2,585,603.09. Following the completion of the sale, the executive vice president now owns 44,186 shares in the company, valued at approximately $13,025,590.94. This represents a 16.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP David M. Reese sold 8,711 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $293.22, for a total value of $2,554,239.42. Following the transaction, the executive vice president now owns 62,147 shares of the company’s stock, valued at approximately $18,222,743.34. The trade was a 12.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,341 shares of company stock worth $20,644,335. Corporate insiders own 0.69% of the company’s stock.

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.