Meeder Advisory Services Inc. Sells 88 Shares of Amgen Inc. (NASDAQ:AMGN)

Meeder Advisory Services Inc. decreased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 0.7% in the 4th quarter, Holdings Channel reports. The fund owned 12,668 shares of the medical research company’s stock after selling 88 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Amgen were worth $3,302,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Blossom Wealth Management lifted its holdings in Amgen by 3.5% in the fourth quarter. Blossom Wealth Management now owns 1,090 shares of the medical research company’s stock valued at $284,000 after buying an additional 37 shares during the period. Zullo Investment Group Inc. raised its position 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 acquiring an additional 37 shares in the last quarter. Trillium Asset Management LLC raised its position 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 acquiring an additional 37 shares in the last quarter. Prestige Wealth Management Group LLC lifted 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 valued at $447,000 after purchasing an additional 38 shares during the period. Finally, Evermay Wealth Management LLC boosted its position in shares of Amgen by 1.5% during the 4th quarter. Evermay Wealth Management LLC now owns 2,650 shares of the medical research company’s stock valued at $691,000 after purchasing an additional 38 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Trading Down 1.5 %

NASDAQ:AMGN opened at $306.92 on Wednesday. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The firm has a 50-day moving average price of $302.51 and a two-hundred day moving average price of $297.63. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. The firm has a market cap of $164.88 billion, a price-to-earnings ratio of 40.65, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53.

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

Amgen Announces Dividend

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 dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 annualized dividend and a yield of 3.10%. Amgen’s payout ratio is currently 126.09%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Bank of America lifted their target price on Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a report on Wednesday, March 5th. Citigroup reiterated a “neutral” rating on shares of Amgen in a research note on Wednesday, February 5th. StockNews.com upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Truist Financial reduced their price target 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, Piper Sandler upped their price objective on shares of Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $314.04.

Insider Buying and Selling

In related news, EVP Murdo Gordon sold 8,771 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $294.79, for a total value of $2,585,603.09. Following the transaction, the executive vice president now owns 44,186 shares in the company, valued at approximately $13,025,590.94. This represents a 16.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David M. Reese sold 25,225 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now directly owns 36,922 shares of the company’s stock, valued at $11,240,533.68. This represents a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,341 shares of company stock worth $20,644,335. Insiders own 0.69% of the company’s stock.

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.