Amgen Inc. (NASDAQ:AMGN) Stock Position Reduced by Marble Harbor Investment Counsel LLC

Marble Harbor Investment Counsel LLC reduced its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 6.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,252 shares of the medical research company’s stock after selling 150 shares during the period. Marble Harbor Investment Counsel LLC’s holdings in Amgen were worth $587,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Swedbank AB grew its position in Amgen by 1.1% in the third quarter. Swedbank AB now owns 538,899 shares of the medical research company’s stock worth $173,639,000 after acquiring an additional 5,751 shares in the last quarter. Graypoint LLC boosted its holdings in Amgen by 3.0% in the third quarter. Graypoint LLC now owns 5,164 shares of the medical research company’s stock worth $1,664,000 after purchasing an additional 148 shares in the last quarter. Cozad Asset Management Inc. boosted its holdings in Amgen by 3.7% in the third quarter. Cozad Asset Management Inc. now owns 1,695 shares of the medical research company’s stock worth $546,000 after purchasing an additional 60 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Amgen by 6.0% in the third quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company’s stock worth $204,659,000 after purchasing an additional 35,785 shares in the last quarter. Finally, Western Pacific Wealth Management LP boosted its stake in shares of Amgen by 245.2% during the 3rd quarter. Western Pacific Wealth Management LP now owns 535 shares of the medical research company’s stock worth $172,000 after acquiring an additional 380 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Stock Up 2.2 %

NASDAQ AMGN opened at $324.86 on Friday. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The company has a market capitalization of $174.52 billion, a price-to-earnings ratio of 43.03, a PEG ratio of 2.63 and a beta of 0.56. The stock’s 50 day moving average is $286.14 and its two-hundred day moving average is $299.89. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62.

Amgen (NASDAQ:AMGN) last posted its 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 analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 2.93%. Amgen’s payout ratio is presently 126.09%.

Insider Activity at Amgen

In other news, EVP Jonathan P. Graham sold 25,045 shares of Amgen stock in a transaction that occurred on Friday, February 7th. The shares were 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 in the company, valued at approximately $8,496,669.44. The trade was a 46.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of Amgen stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total value of $483,802.83. Following the completion of the transaction, the senior vice president now owns 7,210 shares of the company’s stock, valued at approximately $2,195,228.70. The trade was 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 ninety days. Insiders own 0.69% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on AMGN. Wolfe Research assumed coverage on Amgen in a research note on Friday, November 15th. They set a “peer perform” rating for the company. Redburn Partners decreased their target price on Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Piper Sandler Companies reaffirmed an “overweight” rating and set a $310.00 price objective on shares of Amgen in a report on Thursday, January 2nd. Truist Financial decreased their price objective on shares of Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Finally, Jefferies Financial Group restated a “buy” rating and set a $380.00 price target on shares of Amgen in a report on Tuesday, November 12th. Two 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 issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $314.95.

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.