Amgen Inc. (NASDAQ:AMGN) Shares Sold by Gallacher Capital Management LLC

Gallacher Capital Management LLC decreased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 7.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 952 shares of the medical research company’s stock after selling 80 shares during the quarter. Gallacher Capital Management LLC’s holdings in Amgen were worth $274,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Valley Brook Capital Group Inc. boosted its position in shares of Amgen by 7.0% in the fourth quarter. Valley Brook Capital Group Inc. now owns 4,730 shares of the medical research company’s stock worth $1,362,000 after buying an additional 310 shares during the period. Evergreen Wealth Management LLC lifted its position in Amgen by 1.7% during the 4th quarter. Evergreen Wealth Management LLC now owns 4,892 shares of the medical research company’s stock worth $1,409,000 after acquiring an additional 84 shares in the last quarter. Clearstead Trust LLC boosted its holdings in Amgen by 129.6% in the 4th quarter. Clearstead Trust LLC now owns 1,240 shares of the medical research company’s stock worth $357,000 after acquiring an additional 700 shares during the period. Connecticut Wealth Management LLC grew its position in Amgen by 17.1% in the fourth quarter. Connecticut Wealth Management LLC now owns 2,064 shares of the medical research company’s stock valued at $594,000 after acquiring an additional 301 shares in the last quarter. Finally, Ellerson Group Inc. ADV raised its stake in shares of Amgen by 0.7% during the fourth quarter. Ellerson Group Inc. ADV now owns 11,275 shares of the medical research company’s stock valued at $3,247,000 after purchasing an additional 80 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Trading Down 3.8 %

Shares of AMGN stock traded down $11.81 during trading hours on Monday, reaching $299.48. 4,712,696 shares of the stock traded hands, compared to its average volume of 2,901,227. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 11.96. The firm has a market capitalization of $160.64 billion, a PE ratio of 44.47, a PEG ratio of 3.00 and a beta of 0.60. Amgen Inc. has a 1-year low of $211.71 and a 1-year high of $329.72. The business has a fifty day moving average price of $274.95 and a 200 day moving average price of $281.46.

Amgen (NASDAQ:AMGN) last released its earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, beating the consensus estimate of $3.76 by $0.20. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The company had revenue of $7.45 billion for the quarter, compared to analysts’ expectations of $7.45 billion. During the same quarter in the previous year, the business posted $3.98 EPS. The business’s revenue for the quarter was up 22.0% on a year-over-year basis. On average, equities research analysts forecast that Amgen Inc. will post 19.46 EPS for the current year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date is Thursday, May 16th. Amgen’s dividend payout ratio (DPR) is presently 128.57%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. SVB Leerink downgraded shares of Amgen from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $324.00 to $318.00 in a research note on Wednesday, February 7th. The Goldman Sachs Group increased their price target on Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Oppenheimer restated an “outperform” rating and set a $350.00 price objective on shares of Amgen in a report on Thursday, February 1st. Royal Bank of Canada reduced their target price on Amgen from $332.00 to $328.00 and set an “outperform” rating for the company in a research note on Friday. Finally, StockNews.com raised shares of Amgen from a “hold” rating to a “buy” rating in a report on Friday. Ten investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $305.05.

Insider Activity at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $313.09, for a total value of $662,811.53. Following the completion of the sale, the senior vice president now owns 9,883 shares of the company’s stock, valued at $3,094,268.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.69% of the company’s stock.

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.