LGT Group Foundation Sells 1,442 Shares of Amgen Inc. (NASDAQ:AMGN)

LGT Group Foundation lessened its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 19.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,979 shares of the medical research company’s stock after selling 1,442 shares during the quarter. LGT Group Foundation’s holdings in Amgen were worth $1,725,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. J.W. Cole Advisors Inc. grew its holdings in Amgen by 11.7% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 2,785 shares of the medical research company’s stock valued at $748,000 after buying an additional 292 shares in the last quarter. Brown Advisory Inc. grew its holdings in Amgen by 1.5% during the 3rd quarter. Brown Advisory Inc. now owns 344,853 shares of the medical research company’s stock valued at $92,683,000 after buying an additional 5,253 shares in the last quarter. Rovin Capital UT ADV purchased a new position in Amgen during the 3rd quarter valued at approximately $360,000. Summit Wealth & Retirement Planning Inc. purchased a new position in Amgen during the 3rd quarter valued at approximately $208,000. Finally, Groesbeck Investment Management Corp NJ grew its holdings in Amgen by 6.8% during the 3rd quarter. Groesbeck Investment Management Corp NJ now owns 3,588 shares of the medical research company’s stock valued at $964,000 after buying an additional 230 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $313.09, for a total transaction of $662,811.53. Following the completion of the sale, the senior vice president now directly owns 9,883 shares of the company’s stock, valued at $3,094,268.47. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on AMGN shares. StockNews.com upgraded Amgen from a “hold” rating to a “buy” rating in a report on Friday. BMO Capital Markets lifted their target price on Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday. Barclays upgraded Amgen from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $230.00 to $300.00 in a report on Friday. TD Cowen dropped their target price on Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Finally, Truist Financial reiterated a “buy” rating and issued a $320.00 target price on shares of Amgen in a report on Friday, April 12th. Ten analysts have rated the stock with a hold rating and twelve 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 target price of $305.05.

Amgen Stock Up 11.8 %

Shares of Amgen stock opened at $311.29 on Friday. The company has a debt-to-equity ratio of 10.14, a current ratio of 1.65 and a quick ratio of 1.13. Amgen Inc. has a 1 year low of $211.71 and a 1 year high of $329.72. The firm’s 50-day moving average is $274.51 and its two-hundred day moving average is $281.33. The stock has a market cap of $166.97 billion, a price-to-earnings ratio of 44.47, a PEG ratio of 2.69 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last issued its earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.76 by $0.20. Amgen had a net margin of 12.74% and a return on equity of 145.62%. The company had revenue of $7.45 billion for the quarter, compared to analysts’ expectations of $7.45 billion. During the same period in the prior year, the business earned $3.98 EPS. The firm’s quarterly revenue was up 22.0% on a year-over-year basis. As a group, research analysts expect that Amgen Inc. will post 19.43 earnings per share for the current fiscal year.

Amgen Announces Dividend

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 given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s payout ratio is 128.57%.

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.