Sabal Trust CO Sells 830 Shares of Amgen Inc. (NASDAQ:AMGN)

Sabal Trust CO cut its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 1.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 83,200 shares of the medical research company’s stock after selling 830 shares during the quarter. Sabal Trust CO’s holdings in Amgen were worth $21,685,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. National Pension Service grew its position in shares of Amgen by 2.8% in the 4th quarter. National Pension Service now owns 1,093,563 shares of the medical research company’s stock valued at $285,026,000 after buying an additional 29,272 shares during the last quarter. Advisor OS LLC lifted its stake in shares of Amgen by 34.8% in the fourth quarter. Advisor OS LLC now owns 3,997 shares of the medical research company’s stock worth $1,042,000 after acquiring an additional 1,031 shares during the period. Lake Street Advisors Group LLC lifted its stake in shares of Amgen by 84.8% in the fourth quarter. Lake Street Advisors Group LLC now owns 12,746 shares of the medical research company’s stock worth $3,322,000 after acquiring an additional 5,848 shares during the period. FFT Wealth Management LLC boosted its holdings in Amgen by 3.6% in the fourth quarter. FFT Wealth Management LLC now owns 1,402 shares of the medical research company’s stock valued at $365,000 after acquiring an additional 49 shares during the last quarter. Finally, Todd Asset Management LLC increased its position in Amgen by 1.7% during the 4th quarter. Todd Asset Management LLC now owns 131,453 shares of the medical research company’s stock valued at $34,262,000 after purchasing an additional 2,179 shares during the period. 76.50% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP David M. Reese sold 8,711 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $293.22, for a total value of $2,554,239.42. Following the transaction, the executive vice president now directly owns 62,147 shares of the company’s stock, valued at approximately $18,222,743.34. The trade was a 12.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Nancy A. Grygiel sold 1,589 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total transaction of $483,802.83. Following the sale, the senior vice president now owns 7,210 shares of the company’s stock, valued at $2,195,228.70. This trade represents a 18.06 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,341 shares of company stock worth $20,644,335. 0.69% of the stock is owned by company insiders.

Amgen Trading Up 1.9 %

NASDAQ AMGN opened at $315.63 on Wednesday. The business has a fifty day simple moving average of $278.13 and a 200 day simple moving average of $300.16. The firm has a market capitalization of $169.56 billion, a P/E ratio of 41.81, a PEG ratio of 2.63 and a beta of 0.56. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85.

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

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th 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 3.02%. This is an increase from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s dividend payout ratio (DPR) is presently 126.09%.

Wall Street Analysts Forecast Growth

AMGN has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of Amgen from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Piper Sandler Companies restated an “overweight” rating and issued a $310.00 target price on shares of Amgen in a report on Thursday, January 2nd. Truist Financial decreased their price target on Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Redburn Partners dropped their price objective on Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Finally, Piper Sandler upped their target price on Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a research 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 company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $314.09.

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.