Tucker Asset Management LLC Reduces Position in Amgen Inc. (NASDAQ:AMGN)

Tucker Asset Management LLC trimmed its stake in Amgen Inc. (NASDAQ:AMGN) by 14.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 799 shares of the medical research company’s stock after selling 138 shares during the period. Tucker Asset Management LLC’s holdings in Amgen were worth $208,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Talbot Financial LLC grew its holdings in Amgen by 5.6% during the 4th quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company’s stock valued at $11,153,000 after buying an additional 2,274 shares in the last quarter. Asset Advisors Investment Management LLC increased its stake in Amgen by 9.0% in the 3rd quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company’s stock worth $11,578,000 after buying an additional 2,954 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Amgen by 6.0% in the third quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company’s stock valued at $204,659,000 after purchasing an additional 35,785 shares during the period. Ascent Wealth Partners LLC increased its holdings in Amgen by 0.7% during the 4th quarter. Ascent Wealth Partners LLC now owns 9,024 shares of the medical research company’s stock worth $2,352,000 after purchasing an additional 64 shares during the period. Finally, ICICI Prudential Asset Management Co Ltd lifted its holdings in shares of Amgen by 242.2% in the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 23,999 shares of the medical research company’s stock worth $6,255,000 after buying an additional 16,985 shares during the period. 76.50% of the stock is owned by institutional investors.

Amgen Stock Up 0.4 %

NASDAQ:AMGN opened at $306.95 on Friday. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The stock’s fifty day moving average is $301.08 and its two-hundred day moving average is $298.38. The stock has a market capitalization of $164.90 billion, a price-to-earnings ratio of 40.66, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results 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 net margin of 12.24% and a return on equity of 176.32%. Research analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be issued a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a yield of 3.10%. Amgen’s payout ratio is currently 126.09%.

Insiders Place Their Bets

In other news, EVP Jonathan P. Graham sold 25,045 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now owns 28,987 shares in the company, valued at approximately $8,496,669.44. This trade represents a 46.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David M. Reese sold 8,711 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $293.22, for a total transaction 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. This represents a 12.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,341 shares of company stock valued at $20,644,335. 0.69% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have commented on AMGN. StockNews.com raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Royal Bank of Canada reissued an “outperform” rating and set a $324.00 price target on shares of Amgen in a research report on Friday, January 24th. UBS Group reiterated a “hold” rating on shares of Amgen in a research note on Wednesday, February 12th. Piper Sandler upped their price target on Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Finally, Truist Financial reduced 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. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.