Pathstone Holdings LLC Sells 6,280 Shares of Amgen Inc. (NASDAQ:AMGN)

Pathstone Holdings LLC reduced its stake in Amgen Inc. (NASDAQ:AMGN) by 6.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,325 shares of the medical research company’s stock after selling 6,280 shares during the period. Pathstone Holdings LLC’s holdings in Amgen were worth $24,070,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of AMGN. Centricity Wealth Management LLC bought a new position in Amgen in the fourth quarter worth about $25,000. Ritter Daniher Financial Advisory LLC DE grew its holdings in 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 during the period. Synergy Investment Management LLC purchased a new stake in Amgen in the fourth quarter worth about $34,000. Atala Financial Inc purchased a new stake in Amgen in the fourth quarter worth about $34,000. Finally, Heck Capital Advisors LLC purchased a new stake in Amgen in the fourth quarter worth about $36,000. 76.50% of the stock is owned by institutional investors.

Amgen Trading Down 3.0%

Shares of AMGN stock opened at $262.28 on Thursday. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. 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 firm’s 50 day moving average is $293.04 and its 200 day moving average is $288.89. The stock has a market capitalization of $141.03 billion, a P/E ratio of 34.74, a P/E/G 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, topping the consensus estimate 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 quarter last year, the company posted $3.96 earnings per share. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. Research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be given a $2.38 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 annualized dividend and a yield of 3.63%. Amgen’s payout ratio is presently 86.86%.

Insiders Place Their Bets

In other Amgen news, EVP David M. Reese sold 25,225 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 36,922 shares in the company, valued at approximately $11,240,533.68. This trade represents a 40.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.76% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on AMGN shares. Citigroup restated a “neutral” rating on shares of Amgen in a report on Wednesday, February 5th. Bank of America upped their price objective on shares of Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a report on Wednesday, March 5th. Johnson Rice set a $294.00 price objective on shares of Amgen in a report on Wednesday, March 5th. Piper Sandler upped their price objective on shares of Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Finally, Morgan Stanley restated an “equal weight” rating on shares of Amgen in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $310.23.

Amgen 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.