Amgen Inc. (NASDAQ:AMGN) Shares Sold by Spinnaker Investment Group LLC

Spinnaker Investment Group LLC decreased its holdings in Amgen Inc. (NASDAQ:AMGN) by 3.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,480 shares of the medical research company’s stock after selling 91 shares during the quarter. Spinnaker Investment Group LLC’s holdings in Amgen were worth $646,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AMGN. Talbot Financial LLC boosted its holdings in Amgen by 5.6% in the fourth quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company’s stock worth $11,153,000 after purchasing an additional 2,274 shares during the period. Swiss National Bank grew its stake in Amgen by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock worth $513,033,000 after buying an additional 5,500 shares during the last quarter. Asset Advisors Investment Management LLC lifted its stake in Amgen by 9.0% in the third quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company’s stock valued at $11,578,000 after buying an additional 2,954 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Amgen by 6.0% during the third quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company’s stock valued at $204,659,000 after acquiring an additional 35,785 shares during the period. Finally, First Horizon Advisors Inc. grew its position in shares of Amgen by 3.2% during the third quarter. First Horizon Advisors Inc. now owns 60,769 shares of the medical research company’s stock worth $19,581,000 after acquiring an additional 1,872 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on AMGN shares. Wolfe Research started coverage on shares of Amgen in a research report on Friday, November 15th. They issued a “peer perform” rating on the stock. UBS Group reduced their price objective on Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. StockNews.com cut Amgen from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Jefferies Financial Group reissued a “buy” rating and issued a $380.00 price target on shares of Amgen in a research note on Tuesday, November 12th. Finally, Piper Sandler cut their price objective on shares of Amgen from $344.00 to $310.00 and set an “overweight” rating on the stock in a research note on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Amgen has an average rating of “Hold” and a consensus target price of $314.91.

Amgen Stock Up 1.6 %

Shares of NASDAQ:AMGN opened at $277.88 on Friday. The firm has a 50 day simple moving average of $271.91 and a 200 day simple moving average of $306.43. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The company has a market cap of $149.37 billion, a PE ratio of 35.58, a price-to-earnings-growth ratio of 2.79 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last released its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. During the same quarter in the prior year, the company earned $4.96 earnings per share. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. As a group, research analysts expect that Amgen Inc. will post 19.57 earnings per share for the current year.

Amgen Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be issued a $2.38 dividend. This is an increase from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.43%. Amgen’s dividend payout ratio is currently 115.24%.

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.