Adell Harriman & Carpenter Inc. Sells 412 Shares of Amgen Inc. (NASDAQ:AMGN)

Adell Harriman & Carpenter Inc. decreased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 2.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,288 shares of the medical research company’s stock after selling 412 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Amgen were worth $4,246,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in AMGN. Capital Performance Advisors LLP purchased a new stake in shares of Amgen in the third quarter valued at approximately $25,000. Legacy Investment Solutions LLC bought a new stake in Amgen during the 3rd quarter valued at $29,000. Heck Capital Advisors LLC purchased a new stake in shares of Amgen in the 4th quarter worth $36,000. PrairieView Partners LLC grew its position in shares of Amgen by 118.3% during the 4th quarter. PrairieView Partners LLC now owns 179 shares of the medical research company’s stock worth $46,000 after buying an additional 97 shares in the last quarter. Finally, Wingate Wealth Advisors Inc. purchased a new position in shares of Amgen during the fourth quarter valued at $52,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 1,589 shares of Amgen stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total transaction of $483,802.83. Following the completion of the transaction, the senior vice president now directly owns 7,210 shares in the company, valued at approximately $2,195,228.70. This trade represents a 18.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jonathan P. Graham sold 25,045 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $293.12, for a total value 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 represents a 46.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,405 shares of company stock valued at $10,410,596 in the last ninety days. Insiders own 0.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Leerink Partners lowered their price objective on shares of Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. William Blair reiterated an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. Truist Financial reduced their price objective on shares of Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Bank of America lifted their price target on Amgen from $256.00 to $275.00 and gave the company an “underperform” rating in a report on Thursday, February 6th. Finally, Redburn Partners decreased their price objective on Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Amgen currently has an average rating of “Hold” and a consensus price target of $314.09.

Amgen Price Performance

NASDAQ AMGN opened at $291.16 on Friday. The company has a market cap of $156.51 billion, a price-to-earnings ratio of 38.56, a PEG ratio of 3.01 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 0.96. The stock’s fifty day moving average price is $273.75 and its 200 day moving average price is $302.14. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85.

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 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%. As a group, equities research analysts forecast that Amgen Inc. will post 20.59 earnings per share for the current year.

Amgen Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be paid a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.27%. This is a boost from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. Amgen’s payout ratio is presently 126.09%.

About Amgen

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.