Hartford Investment Management Co. Sells 832 Shares of Amgen Inc. (NASDAQ:AMGN)

Hartford Investment Management Co. reduced its holdings in shares of Amgen Inc. (NASDAQ:AMGNFree Report) by 2.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,057 shares of the medical research company’s stock after selling 832 shares during the quarter. Hartford Investment Management Co.’s holdings in Amgen were worth $10,385,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of AMGN. Vanguard Group Inc. grew its holdings in shares of Amgen by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 49,035,981 shares of the medical research company’s stock valued at $13,178,910,000 after purchasing an additional 165,636 shares during the last quarter. Morgan Stanley lifted its stake in shares of Amgen by 12.9% in the 4th quarter. Morgan Stanley now owns 13,301,365 shares of the medical research company’s stock valued at $3,493,471,000 after acquiring an additional 1,523,665 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Amgen by 1.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 8,819,690 shares of the medical research company’s stock worth $2,132,778,000 after acquiring an additional 94,565 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its position in Amgen by 83,875.6% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,541,011 shares of the medical research company’s stock valued at $1,980,571,000 after purchasing an additional 7,532,031 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Amgen by 3.8% in the third quarter. Northern Trust Corp now owns 6,977,625 shares of the medical research company’s stock worth $1,875,306,000 after acquiring an additional 255,463 shares during the period. 76.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AMGN. Daiwa Capital Markets raised shares of Amgen from a “neutral” rating to a “buy” rating and raised their target price for the stock from $264.00 to $320.00 in a research report on Thursday, December 21st. Raymond James began coverage on Amgen in a research report on Thursday, March 28th. They issued a “market perform” rating for the company. BMO Capital Markets raised Amgen from a “market perform” rating to an “outperform” rating and upped their target price for the company from $286.00 to $326.00 in a research report on Tuesday, December 19th. UBS Group decreased their price target on Amgen from $315.00 to $314.00 and set a “neutral” rating for the company in a research note on Monday, January 29th. Finally, Morgan Stanley decreased their price objective on shares of Amgen from $281.00 to $278.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Amgen has an average rating of “Hold” and a consensus price target of $295.30.

Check Out Our Latest Stock Report on AMGN

Amgen Price Performance

Shares of NASDAQ AMGN traded down $0.25 during trading on Wednesday, reaching $275.96. The company had a trading volume of 623,978 shares, compared to its average volume of 2,971,478. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 10.14. The stock has a market capitalization of $147.89 billion, a PE ratio of 22.11, a price-to-earnings-growth ratio of 2.67 and a beta of 0.58. Amgen Inc. has a twelve month low of $211.71 and a twelve month high of $329.72. The stock has a 50-day moving average price of $288.00 and a two-hundred day moving average price of $281.45.

Amgen (NASDAQ:AMGNGet Free Report) last issued its quarterly earnings results 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 business had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.13 billion. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The company’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.09 earnings per share. As a group, sell-side analysts predict that Amgen Inc. will post 19.48 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be paid a dividend of $2.25 per share. The ex-dividend date is Thursday, May 16th. This represents a $9.00 annualized dividend and a yield of 3.26%. Amgen’s dividend payout ratio is presently 72.06%.

About Amgen

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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