Boston Family Office LLC Reduces Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Boston Family Office LLC lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 1.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,234 shares of the medical research company’s stock after selling 130 shares during the quarter. Boston Family Office LLC’s holdings in Amgen were worth $2,146,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Quantbot Technologies LP purchased a new position in shares of Amgen during the 3rd quarter worth about $150,000. Cobblestone Capital Advisors LLC NY boosted its position in shares of Amgen by 84.2% during the third quarter. Cobblestone Capital Advisors LLC NY now owns 2,431 shares of the medical research company’s stock valued at $783,000 after buying an additional 1,111 shares during the period. Atlas Wealth LLC bought a new position in shares of Amgen during the third quarter valued at approximately $208,000. Benjamin Edwards Inc. raised its holdings in shares of Amgen by 682.0% in the third quarter. Benjamin Edwards Inc. now owns 50,663 shares of the medical research company’s stock worth $16,340,000 after buying an additional 44,184 shares during the period. Finally, Beacon Investment Advisory Services Inc. lifted its stake in shares of Amgen by 1.8% during the 3rd quarter. Beacon Investment Advisory Services Inc. now owns 42,439 shares of the medical research company’s stock worth $13,674,000 after acquiring an additional 746 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Up 1.5 %

Amgen stock opened at $311.55 on Tuesday. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The business has a fifty day moving average price of $301.87 and a 200-day moving average price of $297.81. 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 stock has a market capitalization of $167.37 billion, a price-to-earnings ratio of 41.26, a PEG ratio of 2.63 and a beta of 0.53.

Amgen (NASDAQ:AMGN) last issued 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 return on equity of 176.32% and a net margin of 12.24%. Equities research analysts forecast that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be paid a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a yield of 3.06%. Amgen’s payout ratio is 126.09%.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on AMGN shares. Wells Fargo & Company reiterated an “equal weight” rating on shares of Amgen in a research note on Wednesday, February 5th. UBS Group reissued a “hold” rating on shares of Amgen in a research report on Wednesday, February 12th. Truist Financial dropped their target price on shares of Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. StockNews.com upgraded Amgen from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Bank of America increased their price objective on Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a research note on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $314.04.

Amgen 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.