Lee Danner & Bass Inc. Sells 48 Shares of Amgen Inc. (NASDAQ:AMGN)

Lee Danner & Bass Inc. lessened its stake in Amgen Inc. (NASDAQ:AMGN) by 0.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,400 shares of the medical research company’s stock after selling 48 shares during the period. Lee Danner & Bass Inc.’s holdings in Amgen were worth $6,099,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Blossom Wealth Management grew its stake in shares of Amgen by 3.5% in the 4th quarter. Blossom Wealth Management now owns 1,090 shares of the medical research company’s stock worth $284,000 after buying an additional 37 shares during the last quarter. Zullo Investment Group Inc. grew its stake in shares of Amgen by 2.8% in the 4th quarter. Zullo Investment Group Inc. now owns 1,364 shares of the medical research company’s stock worth $356,000 after buying an additional 37 shares during the last quarter. Trillium Asset Management LLC grew its stake in shares of Amgen by 4.2% in the 4th quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company’s stock worth $237,000 after buying an additional 37 shares during the last quarter. Brooklyn Investment Group grew its stake in shares of Amgen by 1.1% in the 3rd quarter. Brooklyn Investment Group now owns 3,377 shares of the medical research company’s stock worth $1,088,000 after buying an additional 38 shares during the last quarter. Finally, Prestige Wealth Management Group LLC grew its stake in shares of Amgen by 2.8% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 1,387 shares of the medical research company’s stock worth $447,000 after buying an additional 38 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Insider Buying and Selling

In related news, EVP David M. Reese sold 25,225 shares of Amgen stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $304.44, for a total value of $7,679,499.00. Following the completion of the transaction, the executive vice president now owns 36,922 shares in the company, valued at approximately $11,240,533.68. This trade represents a 40.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Jonathan P. Graham sold 25,045 shares of Amgen stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $293.12, for a total value of $7,341,190.40. Following the completion of the transaction, the executive vice president now owns 28,987 shares of the company’s stock, valued at approximately $8,496,669.44. This represents a 46.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 69,341 shares of company stock worth $20,644,335. Corporate insiders own 0.69% of the company’s stock.

Wall Street Analysts Forecast Growth

AMGN has been the topic of several recent analyst reports. Redburn Partners cut their target price on Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Piper Sandler Companies reissued an “overweight” rating and set a $310.00 price target on shares of Amgen in a report on Thursday, January 2nd. Piper Sandler increased their price target on Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Wells Fargo & Company reissued an “equal weight” rating on shares of Amgen in a report on Wednesday, February 5th. Finally, StockNews.com cut Amgen from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $314.04.

Amgen Trading Down 0.2 %

Shares of Amgen stock opened at $315.04 on Friday. The firm has a market cap of $169.24 billion, a price-to-earnings ratio of 41.73, a PEG ratio of 2.63 and a beta of 0.53. The business has a 50-day moving average price of $296.17 and a 200-day moving average price of $299.14. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85.

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

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be given a $2.38 dividend. The ex-dividend date is Friday, May 16th. This represents a $9.52 annualized dividend and a yield of 3.02%. Amgen’s dividend payout ratio is currently 126.09%.

About Amgen

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.