Sage Mountain Advisors LLC Cuts Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Sage Mountain Advisors LLC reduced its position in shares of Amgen Inc. (NASDAQ:AMGN) by 9.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,262 shares of the medical research company’s stock after selling 446 shares during the period. Sage Mountain Advisors LLC’s holdings in Amgen were worth $1,111,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Talbot Financial LLC grew its position in shares of Amgen by 5.6% in the fourth quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company’s stock valued at $11,153,000 after purchasing an additional 2,274 shares in the last quarter. Swiss National Bank grew its position in shares of Amgen by 0.3% in the third quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock valued at $513,033,000 after purchasing an additional 5,500 shares in the last quarter. Asset Advisors Investment Management LLC grew its position in shares of Amgen by 9.0% in the third quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company’s stock valued at $11,578,000 after purchasing an additional 2,954 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Amgen by 6.0% in the third quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company’s stock valued at $204,659,000 after purchasing an additional 35,785 shares in the last quarter. Finally, Ascent Wealth Partners LLC grew its position in shares of Amgen by 0.7% in the fourth quarter. Ascent Wealth Partners LLC now owns 9,024 shares of the medical research company’s stock valued at $2,352,000 after purchasing an additional 64 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AMGN. Deutsche Bank Aktiengesellschaft dropped their price target on Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Piper Sandler upped their price target on Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Redburn Partners dropped their price target on Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Leerink Partners decreased their price objective on Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Finally, Piper Sandler Companies reiterated an “overweight” rating and issued a $310.00 price objective on shares of Amgen in a report on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $314.04.

Amgen Stock Up 0.8 %

NASDAQ:AMGN opened at $327.36 on Tuesday. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The stock’s fifty day moving average is $287.50 and its two-hundred day moving average is $299.50. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The stock has a market capitalization of $175.86 billion, a price-to-earnings ratio of 43.36, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data 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 return on equity of 176.32% and a net margin of 12.24%. Research analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be given a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s dividend payout ratio is currently 126.09%.

Insider Transactions at Amgen

In related news, EVP David M. Reese sold 25,225 shares of the 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Jonathan P. Graham sold 25,045 shares of the stock in a transaction 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 directly owns 28,987 shares in the company, valued at $8,496,669.44. This trade represents a 46.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,341 shares of company stock valued at $20,644,335. 0.69% of the stock is currently owned by company insiders.

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.