Choreo LLC reduced its holdings in Amgen Inc. (NASDAQ:AMGN – Free Report) by 7.4% during the second quarter, Holdings Channel reports. The firm owned 18,320 shares of the medical research company’s stock after selling 1,468 shares during the period. Choreo LLC’s holdings in Amgen were worth $6,634,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in AMGN. Symphony Financial Ltd. Co. boosted its holdings in Amgen by 7.4% during the second quarter. Symphony Financial Ltd. Co. now owns 8,993 shares of the medical research company’s stock worth $3,243,000 after buying an additional 617 shares in the last quarter. Eagle Bay Advisors LLC grew its position in Amgen by 5.1% in the second quarter. Eagle Bay Advisors LLC now owns 1,233 shares of the medical research company’s stock worth $447,000 after buying an additional 60 shares during the last quarter. TCW Group Inc. increased its holdings in shares of Amgen by 12.8% in the second quarter. TCW Group Inc. now owns 28,369 shares of the medical research company’s stock valued at $10,273,000 after buying an additional 3,222 shares in the last quarter. Fulton Breakefield Broenniman LLC increased its holdings in shares of Amgen by 6.1% in the second quarter. Fulton Breakefield Broenniman LLC now owns 6,136 shares of the medical research company’s stock valued at $2,222,000 after buying an additional 351 shares in the last quarter. Finally, BIP Wealth LLC lifted its position in shares of Amgen by 6.3% during the 2nd quarter. BIP Wealth LLC now owns 9,380 shares of the medical research company’s stock valued at $3,397,000 after acquiring an additional 556 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.
Amgen Stock Performance
AMGN stock opened at $415.21 on Friday. The firm has a 50 day simple moving average of $370.57 and a 200 day simple moving average of $358.93. Amgen Inc. has a 52 week low of $269.77 and a 52 week high of $421.79. The stock has a market cap of $224.47 billion, a P/E ratio of 25.81, a P/E/G ratio of 3.86 and a beta of 0.41. The company has a debt-to-equity ratio of 4.44, a quick ratio of 1.13 and a current ratio of 1.37.
Amgen Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 21st will be paid a dividend of $2.52 per share. The ex-dividend date is Friday, August 21st. This represents a $10.08 dividend on an annualized basis and a yield of 2.4%. Amgen’s payout ratio is currently 62.65%.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on AMGN shares. Truist Financial raised their price objective on Amgen from $340.00 to $362.00 and gave the stock a “hold” rating in a research note on Wednesday, August 5th. UBS Group boosted their target price on Amgen from $420.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Royal Bank Of Canada upped their target price on Amgen from $370.00 to $400.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Barclays increased their price target on Amgen from $360.00 to $380.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $350.00 price target on shares of Amgen in a research note on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fifteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Amgen currently has an average rating of “Hold” and a consensus price target of $372.39.
Read Our Latest Stock Report on AMGN
Insider Activity
In other Amgen news, SVP Rachna Khosla sold 1,252 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $416.43, for a total transaction of $521,370.36. Following the completion of the transaction, the senior vice president owned 6,404 shares in the company, valued at $2,666,817.72. This trade represents a 16.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Nancy A. Grygiel sold 2,970 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $402.16, for a total transaction of $1,194,415.20. Following the transaction, the senior vice president owned 7,340 shares of the company’s stock, valued at approximately $2,951,854.40. This represents a 28.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 6,222 shares of company stock worth $2,540,926. 0.85% of the stock is owned by company insiders.
Amgen Company Profile
Amgen Inc (NASDAQ: AMGN) is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen’s work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.
Amgen’s commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.
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