Connable Office Inc. Sells 1,288 Shares of Amgen Inc. (NASDAQ:AMGN)

Connable Office Inc. lowered its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 18.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 5,684 shares of the medical research company’s stock after selling 1,288 shares during the period. Connable Office Inc.’s holdings in Amgen were worth $1,481,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMGN. Capital Performance Advisors LLP bought a new position in Amgen during the third quarter worth about $25,000. Centricity Wealth Management LLC bought a new position in Amgen during the fourth quarter worth about $25,000. Legacy Investment Solutions LLC bought a new position in Amgen during the third quarter worth about $29,000. Heck Capital Advisors LLC bought a new position in Amgen during the fourth quarter worth about $36,000. Finally, PrairieView Partners LLC grew its holdings in Amgen by 118.3% during the fourth quarter. PrairieView Partners LLC now owns 179 shares of the medical research company’s stock worth $46,000 after purchasing an additional 97 shares during the period. Institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

AMGN has been the subject of a number of research analyst reports. Piper Sandler Companies restated an “overweight” rating and set a $310.00 price objective on shares of Amgen in a report on Thursday, January 2nd. Royal Bank of Canada restated an “outperform” rating and set a $324.00 price objective on shares of Amgen in a report on Friday, January 24th. Bank of America boosted their price objective on Amgen from $256.00 to $275.00 and gave the stock an “underperform” rating in a report on Thursday, February 6th. Redburn Partners reduced their price objective on Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Finally, Wells Fargo & Company restated an “equal weight” rating on shares of Amgen in a report on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $314.09.

Amgen Stock Up 0.7 %

Shares of AMGN opened at $308.06 on Friday. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The company has a market cap of $165.49 billion, a P/E ratio of 40.80, a P/E/G ratio of 2.63 and a beta of 0.56. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. The firm has a 50 day simple moving average of $280.87 and a two-hundred day simple moving average of $300.16.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, beating the consensus estimate of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. Research analysts forecast that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be issued a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a dividend yield of 3.09%. Amgen’s dividend payout ratio is 126.09%.

Insider Transactions at Amgen

In other news, EVP David M. Reese sold 8,711 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $293.22, for a total transaction of $2,554,239.42. Following the completion of the transaction, the executive vice president now directly owns 62,147 shares in the company, valued at approximately $18,222,743.34. This represents a 12.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Nancy A. Grygiel sold 1,589 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total transaction of $483,802.83. Following the transaction, the senior vice president now owns 7,210 shares of the company’s stock, valued at $2,195,228.70. This trade represents a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 69,341 shares of company stock worth $20,644,335. Corporate insiders own 0.69% of the company’s stock.

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.