HUB Investment Partners LLC Sells 1,017 Shares of Amgen Inc. (NASDAQ:AMGN)

HUB Investment Partners LLC lowered its position in Amgen Inc. (NASDAQ:AMGN) by 32.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,082 shares of the medical research company’s stock after selling 1,017 shares during the quarter. HUB Investment Partners LLC’s holdings in Amgen were worth $543,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of AMGN. Talbot Financial LLC raised its position in Amgen by 5.6% in the fourth quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company’s stock worth $11,153,000 after purchasing an additional 2,274 shares in the last quarter. Asset Advisors Investment Management LLC lifted its position in shares of Amgen by 9.0% during the 3rd quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company’s stock worth $11,578,000 after buying an additional 2,954 shares during the period. Principal Financial Group Inc. boosted its stake in Amgen by 6.0% in the 3rd quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company’s stock valued at $204,659,000 after buying an additional 35,785 shares in the last quarter. Ascent Wealth Partners LLC grew its position in 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 acquiring an additional 64 shares during the period. Finally, ICICI Prudential Asset Management Co Ltd raised its stake in Amgen by 242.2% during the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 23,999 shares of the medical research company’s stock worth $6,255,000 after acquiring an additional 16,985 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Insiders Place Their Bets

In other Amgen news, EVP Murdo Gordon sold 8,771 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $294.79, for a total transaction of $2,585,603.09. Following the sale, the executive vice president now directly owns 44,186 shares in the company, valued at approximately $13,025,590.94. This trade represents a 16.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of Amgen stock in a transaction that occurred on Wednesday, February 5th. The shares were 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. The trade was a 18.06 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,341 shares of company stock worth $20,644,335. Corporate insiders own 0.69% of the company’s stock.

Amgen Price Performance

Shares of AMGN opened at $316.04 on Friday. The stock has a market cap of $169.78 billion, a P/E ratio of 41.86, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The stock’s 50-day moving average price is $297.24 and its two-hundred day moving average price is $299.02. 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 (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. On average, equities analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be paid a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.01%. The ex-dividend date is Friday, May 16th. Amgen’s payout ratio is presently 126.09%.

Analyst Ratings Changes

Several equities research analysts have recently commented on AMGN shares. UBS Group restated a “hold” rating on shares of Amgen in a research note on Wednesday, February 12th. Piper Sandler upped their price objective on shares of Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Johnson Rice set a $294.00 price objective on shares of Amgen in a report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft reduced their target price on Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. Finally, Truist Financial dropped 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. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Amgen presently has a consensus rating of “Hold” and an average target price of $314.04.

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.