Ferguson Wellman Capital Management Inc. lessened its stake in Amgen Inc. (NASDAQ:AMGN – Free Report) by 2.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,368 shares of the medical research company’s stock after selling 722 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Amgen were worth $5,410,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Platform Technology Partners lifted its stake in shares of Amgen by 0.8% in the 1st quarter. Platform Technology Partners now owns 5,315 shares of the medical research company’s stock valued at $1,285,000 after purchasing an additional 41 shares during the last quarter. Apeiron RIA LLC raised its holdings in shares of Amgen by 2.3% in the 1st quarter. Apeiron RIA LLC now owns 1,842 shares of the medical research company’s stock valued at $446,000 after purchasing an additional 42 shares in the last quarter. All Terrain Financial Advisors LLC raised its holdings in shares of Amgen by 0.8% in the 1st quarter. All Terrain Financial Advisors LLC now owns 5,646 shares of the medical research company’s stock valued at $1,365,000 after purchasing an additional 44 shares in the last quarter. LifeSteps Financial Inc. raised its holdings in shares of Amgen by 3.4% in the 1st quarter. LifeSteps Financial Inc. now owns 1,373 shares of the medical research company’s stock valued at $332,000 after purchasing an additional 45 shares in the last quarter. Finally, First United Bank & Trust grew its position in shares of Amgen by 0.7% in the 1st quarter. First United Bank & Trust now owns 6,345 shares of the medical research company’s stock valued at $1,534,000 after buying an additional 45 shares during the last quarter. Institutional investors own 74.44% of the company’s stock.
Amgen Price Performance
Shares of NASDAQ:AMGN traded down $1.58 during trading hours on Friday, hitting $260.72. 6,161,175 shares of the company’s stock traded hands, compared to its average volume of 2,463,185. Amgen Inc. has a 52 week low of $211.71 and a 52 week high of $296.67. The company has a debt-to-equity ratio of 8.76, a quick ratio of 2.48 and a current ratio of 2.77. The company’s fifty day simple moving average is $248.12 and its two-hundred day simple moving average is $237.71. The company 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.
Amgen Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Friday, August 18th were paid a dividend of $2.13 per share. This represents a $8.52 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend was Thursday, August 17th. Amgen’s dividend payout ratio is presently 57.45%.
Wall Street Analyst Weigh In
AMGN has been the topic of several research reports. Royal Bank of Canada raised their price objective on shares of Amgen from $250.00 to $253.00 and gave the stock a “sector perform” rating in a research report on Friday, August 4th. Barclays reduced their price objective on shares of Amgen from $225.00 to $210.00 in a research note on Tuesday, July 11th. Truist Financial reiterated a “hold” rating and issued a $260.00 price objective on shares of Amgen in a research note on Tuesday, September 5th. Oppenheimer restated an “outperform” rating and set a $280.00 target price on shares of Amgen in a research report on Tuesday, July 25th. Finally, HSBC initiated coverage on shares of Amgen in a research report on Wednesday, September 6th. They set a “buy” rating and a $320.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $264.19.
Insider Buying and Selling at Amgen
In other Amgen news, EVP Murdo Gordon sold 9,558 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $262.43, for a total transaction of $2,508,305.94. Following the completion of the sale, the executive vice president now directly owns 44,308 shares of the company’s stock, valued at $11,627,748.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.46% of the company’s stock.
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.
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