Amgen Inc. (NASDAQ:AMGN) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 4.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 191,760 shares of the medical research company’s stock after selling 7,937 shares during the period. State of Tennessee Department of Treasury’s holdings in Amgen were worth $49,980,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital World Investors raised its stake in Amgen by 1,292.0% in the fourth quarter. Capital World Investors now owns 6,495,710 shares of the medical research company’s stock valued at $1,693,042,000 after buying an additional 6,029,058 shares in the last quarter. Norges Bank purchased a new position in Amgen in the fourth quarter worth $1,541,991,000. Capital International Investors lifted its stake in shares of Amgen by 40.1% in the fourth quarter. Capital International Investors now owns 12,212,065 shares of the medical research company’s stock valued at $3,182,843,000 after purchasing an additional 3,495,503 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Amgen by 25.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company’s stock worth $3,441,909,000 after acquiring an additional 2,672,975 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Amgen in the fourth quarter valued at $401,913,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of AMGN stock opened at $277.29 on Monday. The company’s fifty day simple moving average is $303.04 and its 200-day simple moving average is $293.88. 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 Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The company has a market cap of $149.09 billion, a PE ratio of 36.73, a P/E/G ratio of 2.63 and a beta of 0.59.

Amgen (NASDAQ:AMGN) last released 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 return on equity of 176.32% and a net margin of 12.24%. As a group, equities research analysts anticipate that Amgen Inc. will post 20.62 EPS for the current 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 issued a $2.38 dividend. The ex-dividend date is Friday, May 16th. This represents a $9.52 annualized dividend and a yield of 3.43%. Amgen’s dividend payout ratio is presently 126.09%.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,589 shares of Amgen stock in a transaction dated 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 directly 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP David M. Reese sold 25,225 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $304.44, for a total value of $7,679,499.00. Following the transaction, the executive vice president now owns 36,922 shares of the company’s stock, valued at $11,240,533.68. This represents a 40.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,341 shares of company stock worth $20,644,335 in the last ninety days. 0.69% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently commented on AMGN shares. Johnson Rice set a $294.00 price objective on Amgen in a research note on Wednesday, March 5th. Piper Sandler Companies reiterated an “overweight” rating and set a $310.00 price target on shares of Amgen in a report on Thursday, January 2nd. UBS Group boosted their price objective on shares of Amgen from $315.00 to $319.00 and gave the company a “neutral” rating in a research report on Monday, April 14th. Truist Financial decreased their target price on shares of Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Finally, StockNews.com downgraded Amgen from a “strong-buy” rating to a “buy” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $314.91.

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.