Amgen Inc. (NASDAQ:AMGN) Shares Sold by Foster Group Inc.

Foster Group Inc. decreased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 10.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,163 shares of the medical research company’s stock after selling 136 shares during the period. Foster Group Inc.’s holdings in Amgen were worth $258,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in AMGN. Tanglewood Legacy Advisors LLC purchased a new position in shares of Amgen in the 4th quarter valued at approximately $26,000. Ruedi Wealth Management Inc. purchased a new stake in shares of Amgen in the fourth quarter valued at approximately $27,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Amgen in the first quarter valued at approximately $28,000. GW&K Investment Management LLC boosted its stake in shares of Amgen by 200.0% in the fourth quarter. GW&K Investment Management LLC now owns 120 shares of the medical research company’s stock valued at $32,000 after buying an additional 80 shares in the last quarter. Finally, AXS Investments LLC purchased a new stake in shares of Amgen in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 74.44% of the company’s stock.

Analyst Upgrades and Downgrades

AMGN has been the topic of a number of analyst reports. Mizuho lifted their price target on Amgen from $214.00 to $223.00 and gave the company a “neutral” rating in a research note on Monday, August 14th. Truist Financial reiterated a “hold” rating and set a $260.00 target price on shares of Amgen in a research report on Tuesday, September 5th. Royal Bank of Canada boosted their target price on Amgen from $250.00 to $253.00 and gave the stock a “sector perform” rating in a research report on Friday, August 4th. HSBC assumed coverage on Amgen in a research report on Wednesday, September 6th. They set a “buy” rating and a $320.00 target price on the stock. Finally, Argus decreased their target price on Amgen from $270.00 to $260.00 in a research report on Monday, June 26th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Amgen has an average rating of “Hold” and a consensus price target of $264.19.

Insider Activity at Amgen

In related news, EVP Murdo Gordon sold 9,558 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $262.43, for a total value of $2,508,305.94. Following the completion of the transaction, the executive vice president now directly owns 44,308 shares in the company, valued at $11,627,748.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.46% of the company’s stock.

Amgen Stock Performance

NASDAQ AMGN opened at $260.72 on Friday. Amgen Inc. has a fifty-two week low of $211.71 and a fifty-two week high of $296.67. The stock has a market cap of $139.46 billion, a price-to-earnings ratio of 17.58, a price-to-earnings-growth ratio of 3.23 and a beta of 0.61. The business has a fifty day moving average of $248.12 and a 200-day moving average of $237.71. The company has a quick ratio of 2.48, a current ratio of 2.77 and a debt-to-equity ratio of 8.76.

Amgen (NASDAQ:AMGN) last released its earnings results on Thursday, August 3rd. The medical research company reported $5.00 EPS for the quarter, beating the consensus estimate of $4.44 by $0.56. The firm had revenue of $7 billion during the quarter, compared to analyst estimates of $6.66 billion. Amgen had a return on equity of 196.60% and a net margin of 30.02%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.65 earnings per share. As a group, analysts predict that Amgen Inc. will post 18.35 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Friday, August 18th were paid a $2.13 dividend. The ex-dividend date of this dividend was Thursday, August 17th. This represents a $8.52 annualized dividend and a yield of 3.27%. Amgen’s payout ratio is currently 57.45%.

Amgen Company Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.