Amgen Inc. (NASDAQ:AMGN) Shares Sold by Hoey Investments Inc.

Hoey Investments Inc. lessened its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 31.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 5,349 shares of the medical research company’s stock after selling 2,484 shares during the period. Amgen comprises 0.2% of Hoey Investments Inc.’s portfolio, making the stock its 21st largest holding. Hoey Investments Inc.’s holdings in Amgen were worth $1,394,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of AMGN. Blossom Wealth Management increased its stake in shares of Amgen by 3.5% in the fourth quarter. Blossom Wealth Management now owns 1,090 shares of the medical research company’s stock worth $284,000 after buying an additional 37 shares during the last quarter. Zullo Investment Group Inc. boosted its stake in Amgen by 2.8% during the 4th quarter. Zullo Investment Group Inc. now owns 1,364 shares of the medical research company’s stock valued at $356,000 after purchasing an additional 37 shares during the period. Trillium Asset Management LLC grew its holdings in Amgen by 4.2% in the 4th quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company’s stock worth $237,000 after buying an additional 37 shares in the last quarter. Prestige Wealth Management Group LLC grew its holdings in Amgen by 2.8% during the third quarter. Prestige Wealth Management Group LLC now owns 1,387 shares of the medical research company’s stock worth $447,000 after acquiring an additional 38 shares during the period. Finally, Evermay Wealth Management LLC lifted its holdings in Amgen by 1.5% in the 4th quarter. Evermay Wealth Management LLC now owns 2,650 shares of the medical research company’s stock valued at $691,000 after acquiring an additional 38 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,589 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total value of $483,802.83. Following the completion of the sale, the senior vice president now owns 7,210 shares of the company’s stock, valued at $2,195,228.70. The trade was a 18.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David M. Reese sold 25,225 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $304.44, for a total value of $7,679,499.00. Following the transaction, the executive vice president now directly owns 36,922 shares in the company, valued at approximately $11,240,533.68. This represents a 40.59 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 69,341 shares of company stock worth $20,644,335. Corporate insiders own 0.69% of the company’s stock.

Analysts Set New Price Targets

AMGN has been the topic of a number of research reports. StockNews.com upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a report on Saturday. Piper Sandler Companies reiterated an “overweight” rating and set a $310.00 price objective on shares of Amgen in a research report on Thursday, January 2nd. Piper Sandler raised their price objective on Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Bank of America boosted their target price on Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $324.00 price target on shares of Amgen in a research report on Friday, January 24th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Amgen has an average rating of “Moderate Buy” and a consensus target price of $314.04.

Amgen Stock Performance

Shares of AMGN stock opened at $306.95 on Monday. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The stock’s 50-day moving average is $301.08 and its two-hundred day moving average is $297.94. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. The firm has a market cap of $164.90 billion, a P/E ratio of 40.66, a PEG ratio of 2.63 and a beta of 0.53.

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

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be issued a dividend of $2.38 per share. The ex-dividend date is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.10%. Amgen’s dividend payout ratio is currently 126.09%.

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.