Boston Financial Mangement LLC Reduces Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Boston Financial Mangement LLC reduced its position in Amgen Inc. (NASDAQ:AMGNFree Report) by 3.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,268 shares of the medical research company’s stock after selling 359 shares during the period. Boston Financial Mangement LLC’s holdings in Amgen were worth $2,491,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Skandinaviska Enskilda Banken AB publ lifted its position in Amgen by 42.3% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 189,029 shares of the medical research company’s stock worth $50,809,000 after acquiring an additional 56,169 shares in the last quarter. Prime Capital Investment Advisors LLC lifted its position in Amgen by 3.7% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 38,842 shares of the medical research company’s stock worth $10,439,000 after acquiring an additional 1,382 shares in the last quarter. Wafra Inc. lifted its position in Amgen by 389.0% during the 3rd quarter. Wafra Inc. now owns 88,750 shares of the medical research company’s stock worth $23,852,000 after acquiring an additional 70,602 shares in the last quarter. Wealth Alliance lifted its position in Amgen by 15.9% during the 3rd quarter. Wealth Alliance now owns 9,981 shares of the medical research company’s stock worth $2,683,000 after acquiring an additional 1,370 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI lifted its position in Amgen by 2,163.8% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 43,352 shares of the medical research company’s stock worth $11,651,000 after acquiring an additional 41,437 shares in the last quarter. 74.44% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Performance

AMGN traded down $3.73 during trading on Friday, reaching $291.12. 3,341,055 shares of the company were exchanged, compared to its average volume of 2,988,391. The stock has a market cap of $155.80 billion, a P/E ratio of 23.31, a PEG ratio of 2.78 and a beta of 0.62. The firm has a 50 day moving average of $295.30 and a 200 day moving average of $274.19. The company has a current ratio of 1.65, a quick ratio of 2.56 and a debt-to-equity ratio of 10.14. Amgen Inc. has a 52 week low of $211.71 and a 52 week high of $329.72.

Amgen (NASDAQ:AMGNGet Free Report) last issued its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.66 by $0.05. The firm had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.13 billion. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The firm’s revenue was up 19.8% on a year-over-year basis. During the same period in the prior year, the business earned $4.09 EPS. On average, sell-side analysts forecast that Amgen Inc. will post 19.53 EPS for the current fiscal year.

Amgen Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 7th. Investors of record on Friday, February 16th will be paid a dividend of $2.25 per share. This is an increase from Amgen’s previous quarterly dividend of $2.13. This represents a $9.00 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend is Thursday, February 15th. Amgen’s dividend payout ratio is presently 68.21%.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 2,096 shares of the business’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $273.03, for a total transaction of $572,270.88. Following the completion of the transaction, the senior vice president now owns 10,874 shares in the company, valued at approximately $2,968,928.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.46% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Morgan Stanley reduced their price target on Amgen from $281.00 to $278.00 and set an “equal weight” rating on the stock in a research report on Wednesday. UBS Group cut their target price on Amgen from $315.00 to $314.00 and set a “neutral” rating on the stock in a research report on Monday, January 29th. Truist Financial reaffirmed a “buy” rating and issued a $320.00 target price on shares of Amgen in a research report on Wednesday, November 29th. Deutsche Bank Aktiengesellschaft began coverage on Amgen in a research report on Thursday, November 9th. They issued a “hold” rating and a $240.00 target price on the stock. Finally, The Goldman Sachs Group upped their target price on Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $295.30.

Get Our Latest Stock Report on Amgen

About Amgen

(Free Report)

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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