Intech Investment Management LLC Has $15.79 Million Holdings in Amgen Inc. (NASDAQ:AMGN)

Intech Investment Management LLC cut its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 8.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 60,588 shares of the medical research company’s stock after selling 5,312 shares during the quarter. Intech Investment Management LLC’s holdings in Amgen were worth $15,792,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Centricity Wealth Management LLC acquired a new stake in shares of Amgen in the 4th quarter valued at approximately $25,000. Legacy Investment Solutions LLC acquired a new stake in shares of Amgen in the 3rd quarter valued at approximately $29,000. Synergy Investment Management LLC acquired a new stake in shares of Amgen in the 4th quarter valued at approximately $34,000. Atala Financial Inc acquired a new stake in shares of Amgen in the 4th quarter valued at approximately $34,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Amgen in the 4th quarter valued at approximately $36,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Amgen

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

Amgen Price Performance

NASDAQ:AMGN opened at $317.17 on Tuesday. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The firm has a fifty day simple moving average of $292.99 and a 200 day simple moving average of $299.02. The stock has a market capitalization of $170.39 billion, a PE ratio of 42.01, a P/E/G ratio of 2.63 and a beta of 0.53.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share 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%. On average, research analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be issued a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s dividend payout ratio is 126.09%.

Analysts Set New Price Targets

AMGN has been the topic of a number of analyst reports. Johnson Rice set a $294.00 price target on shares of Amgen in a research report on Wednesday, March 5th. Leerink Partners cut their price target on shares of Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Redburn Partners lowered their target price on Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. UBS Group reissued a “hold” rating on shares of Amgen in a research note on Wednesday, February 12th. Finally, Piper Sandler Companies reissued an “overweight” rating and set a $310.00 target price on shares of Amgen in a research note on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Amgen currently has a consensus rating of “Hold” and an average target price of $314.04.

Amgen Company 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.