Commonwealth of Pennsylvania Public School Empls Retrmt SYS Cuts Stock Position in Amgen Inc. (NASDAQ:AMGN)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 114,296 shares of the medical research company’s stock after selling 2,675 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Amgen were worth $29,790,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of AMGN. Charles Schwab Investment Management Inc. raised its position in Amgen by 25.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company’s stock worth $3,441,909,000 after acquiring an additional 2,672,975 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Amgen in the fourth quarter valued at $401,913,000. Van ECK Associates Corp lifted its holdings in Amgen by 263.8% in the fourth quarter. Van ECK Associates Corp now owns 1,038,593 shares of the medical research company’s stock valued at $270,699,000 after acquiring an additional 753,147 shares during the period. Nordea Investment Management AB lifted its holdings in Amgen by 40.7% in the fourth quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company’s stock valued at $609,526,000 after acquiring an additional 676,598 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in Amgen by 11.7% in the third quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock valued at $1,657,183,000 after acquiring an additional 538,545 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Citigroup reissued a “neutral” rating on shares of Amgen in a report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft reduced their target price on Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. Wells Fargo & Company reissued an “equal weight” rating on shares of Amgen in a report on Wednesday, February 5th. Truist Financial dropped their price target on Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Finally, UBS Group restated a “hold” rating on shares of Amgen in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Amgen presently has an average rating of “Hold” and an average price target of $314.04.

Amgen Stock Down 0.2 %

AMGN opened at $315.04 on Friday. 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 stock has a market capitalization of $169.24 billion, a price-to-earnings ratio of 41.73, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53. The business has a 50-day moving average of $296.17 and a two-hundred day moving average of $299.14. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, beating 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, research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be paid a $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 3.02%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s dividend payout ratio is currently 126.09%.

Insider Activity

In other news, EVP David M. Reese sold 8,711 shares of Amgen stock in a transaction dated Wednesday, February 19th. The stock was 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 directly owns 62,147 shares of the company’s stock, valued at $18,222,743.34. The trade was a 12.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of the business’s stock in a transaction that occurred on 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 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. Insiders have sold 69,341 shares of company stock valued at $20,644,335 in the last three months. Corporate 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.