Pinnacle Financial Partners Inc Has $15.59 Million Stake in Amgen Inc. (NASDAQ:AMGN)

Pinnacle Financial Partners Inc grew its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 2.6% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 59,433 shares of the medical research company’s stock after buying an additional 1,479 shares during the period. Pinnacle Financial Partners Inc’s holdings in Amgen were worth $15,588,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Callan Capital LLC raised its position in shares of Amgen by 10.5% during the fourth quarter. Callan Capital LLC now owns 3,023 shares of the medical research company’s stock valued at $788,000 after buying an additional 287 shares during the last quarter. Redmond Asset Management LLC acquired a new position in shares of Amgen during the fourth quarter valued at about $581,000. Cypress Capital LLC raised its position in shares of Amgen by 3.7% during the fourth quarter. Cypress Capital LLC now owns 8,439 shares of the medical research company’s stock valued at $2,200,000 after buying an additional 301 shares during the last quarter. Prentice Wealth Management LLC increased its stake in Amgen by 8.8% in the fourth quarter. Prentice Wealth Management LLC now owns 1,752 shares of the medical research company’s stock valued at $457,000 after acquiring an additional 142 shares during the period. Finally, Bell Bank increased its stake in Amgen by 17.1% in the fourth quarter. Bell Bank now owns 30,733 shares of the medical research company’s stock valued at $8,010,000 after acquiring an additional 4,477 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Trading Up 1.7 %

Shares of NASDAQ AMGN opened at $303.01 on Friday. The company’s 50 day simple moving average is $276.27 and its 200 day simple moving average is $300.59. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The firm has a market capitalization of $162.78 billion, a P/E ratio of 40.13, a P/E/G ratio of 2.55 and a beta of 0.56. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data 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, analysts predict that Amgen Inc. will post 20.6 EPS for the current year.

Amgen Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be issued a $2.38 dividend. The ex-dividend date is Friday, February 14th. This is a positive change from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a yield of 3.14%. Amgen’s dividend payout ratio (DPR) is 126.09%.

Insiders Place Their Bets

In other Amgen news, EVP David M. Reese sold 25,225 shares of the stock in a transaction 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 sale, the executive vice president now directly 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 document filed with the SEC, which is accessible through the SEC website. Also, EVP Jonathan P. Graham sold 25,045 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $293.12, for a total transaction of $7,341,190.40. Following the completion of the sale, the executive vice president now owns 28,987 shares in the company, valued at approximately $8,496,669.44. This trade represents a 46.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,341 shares of company stock worth $20,644,335. Company insiders own 0.69% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on AMGN shares. Citigroup lowered their target price on shares of Amgen from $310.00 to $295.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 28th. Truist Financial lowered their target price on shares of Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Leerink Partners lowered their target price on shares of Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. William Blair reissued an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $324.00 target price on shares of Amgen in a research note on Friday, January 24th. 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 company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $314.09.

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.