Amgen Inc. (NASDAQ:AMGN) Stock Position Decreased by Beacon Financial Group

Beacon Financial Group trimmed its position in shares of Amgen Inc. (NASDAQ:AMGN) by 1.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,413 shares of the medical research company’s stock after selling 187 shares during the quarter. Beacon Financial Group’s holdings in Amgen were worth $2,975,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in AMGN. Capital Performance Advisors LLP bought a new position in shares of Amgen during the 3rd quarter valued at $25,000. Legacy Investment Solutions LLC acquired a new stake in shares of Amgen in the 3rd quarter valued at $29,000. Heck Capital Advisors LLC bought a new stake in Amgen in the fourth quarter worth $36,000. Wingate Wealth Advisors Inc. acquired a new position in Amgen during the fourth quarter worth $52,000. Finally, Livelsberger Financial Advisory acquired a new stake in shares of Amgen in the third quarter worth about $56,000. Institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

AMGN has been the subject of several recent analyst reports. Sanford C. Bernstein initiated coverage on Amgen in a research note on Thursday, October 17th. They set an “outperform” rating and a $380.00 price target for the company. Deutsche Bank Aktiengesellschaft lowered their price target on Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. Bank of America boosted their price objective on shares of Amgen from $256.00 to $275.00 and gave the stock an “underperform” rating in a research note on Thursday, February 6th. Truist Financial decreased their price objective on shares of Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 target price on shares of Amgen in a report on Tuesday, November 12th. Two 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 stock. According to data from MarketBeat, Amgen currently has an average rating of “Hold” and an average target price of $314.09.

Insider Activity at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,589 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total value of $483,802.83. Following the completion of the transaction, the senior vice president now directly owns 7,210 shares of the company’s stock, valued at approximately $2,195,228.70. The trade was a 18.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Jonathan P. Graham sold 25,045 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 28,987 shares in the company, valued at $8,496,669.44. The trade was a 46.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.69% of the company’s stock.

Amgen Stock Performance

AMGN opened at $296.66 on Wednesday. The company has a current ratio of 1.26, a quick ratio of 0.96 and a debt-to-equity ratio of 9.62. The stock’s 50 day simple moving average is $272.59 and its 200-day simple moving average is $302.50. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The stock has a market cap of $159.46 billion, a PE ratio of 39.29, a P/E/G ratio of 3.01 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last announced 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 return on equity of 176.32% and a net margin of 12.24%. Sell-side analysts forecast that Amgen Inc. will post 20.59 EPS for the current year.

Amgen Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be paid a $2.38 dividend. The ex-dividend date is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.21%. This is a boost from Amgen’s previous quarterly dividend of $2.25. Amgen’s payout ratio is 119.21%.

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.