Price T Rowe Associates Inc. MD Has $688.90 Million Position in Amgen Inc. (NASDAQ:AMGN)

Price T Rowe Associates Inc. MD reduced its stake in Amgen Inc. (NASDAQ:AMGN) by 41.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,643,117 shares of the medical research company’s stock after selling 1,903,289 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Amgen were worth $688,903,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of AMGN. Centricity Wealth Management LLC acquired a new stake in Amgen in the 4th quarter valued at approximately $25,000. Ritter Daniher Financial Advisory LLC DE lifted its position in shares of Amgen by 66.2% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock worth $33,000 after purchasing an additional 51 shares in the last quarter. Synergy Investment Management LLC acquired a new position in Amgen during the fourth quarter worth $34,000. Atala Financial Inc bought a new position in Amgen in the fourth quarter valued at $34,000. Finally, Heck Capital Advisors LLC acquired a new stake in Amgen in the 4th quarter valued at $36,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Trading Up 0.7 %

AMGN stock opened at $279.84 on Friday. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. The company’s 50-day simple moving average is $301.75 and its 200 day simple moving average is $293.08. The company has a market capitalization of $150.46 billion, a PE ratio of 37.06, a price-to-earnings-growth ratio of 2.63 and a beta of 0.59.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. As a group, sell-side analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be given a dividend of $2.38 per share. The ex-dividend date is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.40%. Amgen’s payout ratio is 126.09%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Bank of America increased their price objective on shares of Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a research note on Wednesday, March 5th. Truist Financial decreased their price target 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 cut Amgen from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 17th. Piper Sandler Companies reissued an “overweight” rating and issued a $310.00 target price on shares of Amgen in a research note on Thursday, January 2nd. Finally, UBS Group upped their price target on shares of Amgen from $315.00 to $319.00 and gave the stock a “neutral” rating in a research report on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $310.57.

Insider Transactions at Amgen

In other Amgen news, EVP Jonathan P. Graham sold 25,045 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 28,987 shares in the company, valued at $8,496,669.44. This represents a 46.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David M. Reese sold 25,225 shares of Amgen stock in a transaction on Friday, February 21st. The shares were sold at an average price of $304.44, for a total value of $7,679,499.00. Following the completion of the transaction, the executive vice president now owns 36,922 shares in the company, valued at approximately $11,240,533.68. The trade was a 40.59 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,341 shares of company stock valued at $20,644,335. 0.69% of the stock is owned by corporate insiders.

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.