Greenleaf Trust grew its position in Amgen Inc. (NASDAQ:AMGN – Free Report) by 11.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,520 shares of the medical research company’s stock after acquiring an additional 1,833 shares during the period. Greenleaf Trust’s holdings in Amgen were worth $4,709,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Gray Wealth Management Inc. boosted its stake in shares of Amgen by 3.3% in the 2nd quarter. Gray Wealth Management Inc. now owns 1,206 shares of the medical research company’s stock valued at $268,000 after purchasing an additional 39 shares in the last quarter. Tiemann Investment Advisors LLC lifted its stake in shares of Amgen by 3.1% in the 2nd quarter. Tiemann Investment Advisors LLC now owns 1,334 shares of the medical research company’s stock valued at $296,000 after acquiring an additional 40 shares during the last quarter. Atlas Private Wealth Advisors lifted its stake in shares of Amgen by 0.7% in the 3rd quarter. Atlas Private Wealth Advisors now owns 5,476 shares of the medical research company’s stock valued at $1,472,000 after acquiring an additional 40 shares during the last quarter. Armstrong Advisory Group Inc. lifted its stake in shares of Amgen by 9.3% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 472 shares of the medical research company’s stock valued at $127,000 after acquiring an additional 40 shares during the last quarter. Finally, Moseley Investment Management Inc. lifted its stake in shares of Amgen by 0.7% in the 3rd quarter. Moseley Investment Management Inc. now owns 5,851 shares of the medical research company’s stock valued at $1,572,000 after acquiring an additional 40 shares during the last quarter. Institutional investors own 74.44% of the company’s stock.
Insider Buying and Selling at Amgen
In other Amgen news, SVP Nancy A. Grygiel sold 2,096 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $273.03, for a total transaction of $572,270.88. Following the completion of the sale, the senior vice president now directly owns 10,874 shares in the company, valued at approximately $2,968,928.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.57% of the stock is owned by company insiders.
Amgen Trading Down 1.3 %
Amgen (NASDAQ:AMGN – Get Free Report) last posted its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.66 by $0.05. The business had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.13 billion. Amgen had a net margin of 23.83% and a return on equity of 154.27%. Amgen’s quarterly revenue was up 19.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.09 earnings per share. As a group, analysts forecast that Amgen Inc. will post 19.54 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. Shareholders of record on Friday, February 16th will be paid a dividend of $2.25 per share. This is a boost from Amgen’s previous quarterly dividend of $2.13. The ex-dividend date is Thursday, February 15th. This represents a $9.00 dividend on an annualized basis and a yield of 3.09%. Amgen’s payout ratio is presently 68.21%.
Analysts Set New Price Targets
Several research analysts recently commented on AMGN shares. StockNews.com downgraded shares of Amgen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 7th. Morgan Stanley decreased their target price on shares of Amgen from $281.00 to $278.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 7th. Truist Financial reissued a “buy” rating and issued a $320.00 target price on shares of Amgen in a research note on Wednesday, November 29th. 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 note on Monday, January 29th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $270.00 target price on shares of Amgen in a research note on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $295.30.
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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