AlTi Global Inc. Sells 40 Shares of Amgen Inc. (NASDAQ:AMGN)

AlTi Global Inc. cut its holdings in Amgen Inc. (NASDAQ:AMGN) by 0.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,525 shares of the medical research company’s stock after selling 40 shares during the quarter. AlTi Global Inc.’s holdings in Amgen were worth $5,355,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Talbot Financial LLC grew its stake in shares of Amgen by 5.6% during the fourth quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company’s stock worth $11,153,000 after purchasing an additional 2,274 shares during the period. Ascent Wealth Partners LLC increased its stake in shares of Amgen by 0.7% in the 4th quarter. Ascent Wealth Partners LLC now owns 9,024 shares of the medical research company’s stock valued at $2,352,000 after acquiring an additional 64 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Amgen by 6.0% in the 3rd quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company’s stock valued at $204,659,000 after acquiring an additional 35,785 shares during the period. ICICI Prudential Asset Management Co Ltd boosted its stake in Amgen by 242.2% during 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 acquiring an additional 16,985 shares during the last quarter. Finally, PFW Advisors LLC acquired a new position in Amgen during the fourth quarter valued at approximately $1,105,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,589 shares of Amgen stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total transaction 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 $2,195,228.70. The trade was a 18.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP David M. Reese sold 25,225 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the completion of the transaction, the executive vice president now directly owns 36,922 shares in the company, valued at $11,240,533.68. The trade was a 40.59 % decrease in their ownership of the stock. 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 insiders.

Amgen Price Performance

Shares of AMGN opened at $281.22 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The company’s fifty day simple moving average is $299.66 and its 200 day simple moving average is $291.49. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The company has a market cap of $151.20 billion, a price-to-earnings ratio of 37.25, a PEG ratio of 2.63 and a beta of 0.51.

Amgen (NASDAQ:AMGN) last issued its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.18 by $0.72. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The company had revenue of $8.15 billion for the quarter, compared to analysts’ expectations of $8.05 billion. During the same period in the prior year, the firm earned $3.96 EPS. Amgen’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be paid a dividend of $2.38 per share. The ex-dividend date is Friday, May 16th. This represents a $9.52 annualized dividend and a dividend yield of 3.39%. Amgen’s dividend payout ratio is currently 126.09%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. UBS Group reiterated a “neutral” rating and issued a $315.00 target price (down from $319.00) on shares of Amgen in a report on Friday. Truist Financial reduced their target price on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Johnson Rice set a $294.00 price target on Amgen in a research report on Wednesday, March 5th. Morgan Stanley reiterated an “equal weight” rating on shares of Amgen in a research report on Friday. Finally, Bank of America raised their target price on shares of Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $310.22.

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.