Amgen Inc. (NASDAQ:AMGN) Holdings Cut by Pinnacle Wealth Planning Services Inc.

Pinnacle Wealth Planning Services Inc. decreased its stake in Amgen Inc. (NASDAQ:AMGN) by 27.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,946 shares of the medical research company’s stock after selling 741 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Amgen were worth $507,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new stake in Amgen in the 3rd quarter worth approximately $25,000. Legacy Investment Solutions LLC bought a new position in shares of Amgen during the 3rd quarter valued at $29,000. Centricity Wealth Management LLC bought a new position in shares of Amgen during the 4th quarter valued at $25,000. Synergy Investment Management LLC bought a new position in shares of Amgen during the 4th quarter valued at $34,000. Finally, Heck Capital Advisors LLC bought a new position in shares of Amgen during the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on AMGN shares. Wells Fargo & Company restated an “equal weight” rating on shares of Amgen in a report on Wednesday, February 5th. Bank of America raised their price target on shares of Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a report on Wednesday. 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. Royal Bank of Canada restated an “outperform” rating and set a $324.00 price target on shares of Amgen in a report on Friday, January 24th. Finally, Piper Sandler lifted their target price on shares of Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $314.95.

Insider Activity at Amgen

In related news, 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 transaction 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. The trade was a 40.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jonathan P. Graham sold 25,045 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $293.12, for a total transaction of $7,341,190.40. Following 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 90 days, insiders sold 69,341 shares of company stock worth $20,644,335. 0.69% of the stock is currently owned by company insiders.

Amgen Trading Up 0.4 %

AMGN opened at $317.82 on Friday. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. The company has a market cap of $170.73 billion, a price-to-earnings ratio of 42.10, a price-to-earnings-growth ratio of 2.63 and a beta of 0.56. The firm has a 50 day simple moving average of $284.89 and a 200 day simple moving average of $299.91. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85.

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

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be issued a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s dividend payout ratio is currently 126.09%.

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.