Violich Capital Management Inc. Has $3.07 Million Position in Amgen Inc. (NASDAQ:AMGN)

Violich Capital Management Inc. cut its stake in Amgen Inc. (NASDAQ:AMGN) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,780 shares of the medical research company’s stock after selling 250 shares during the quarter. Violich Capital Management Inc.’s holdings in Amgen were worth $3,070,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Mill Creek Capital Advisors LLC raised its position in Amgen by 3.9% during the fourth quarter. Mill Creek Capital Advisors LLC now owns 3,889 shares of the medical research company’s stock valued at $1,014,000 after acquiring an additional 145 shares in the last quarter. International Private Wealth Advisors LLC raised its holdings in shares of Amgen by 7.5% during the 4th quarter. International Private Wealth Advisors LLC now owns 903 shares of the medical research company’s stock valued at $235,000 after purchasing an additional 63 shares in the last quarter. Arlington Trust Co LLC lifted its stake in shares of Amgen by 9.9% in the 4th quarter. Arlington Trust Co LLC now owns 3,072 shares of the medical research company’s stock valued at $801,000 after purchasing an additional 277 shares during the last quarter. Global Wealth Management Investment Advisory Inc. boosted its holdings in Amgen by 26.5% in the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 6,867 shares of the medical research company’s stock worth $1,790,000 after purchasing an additional 1,438 shares in the last quarter. Finally, Wingate Wealth Advisors Inc. acquired a new position in Amgen during the fourth quarter worth $52,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AMGN has been the topic of a number of recent analyst reports. Sanford C. Bernstein started coverage on Amgen in a research note on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price objective on the stock. William Blair reiterated an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. Piper Sandler Companies reissued an “overweight” rating and set a $310.00 target price on shares of Amgen in a research report on Thursday, January 2nd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $380.00 price target on shares of Amgen in a research report on Tuesday, November 12th. Finally, Citigroup decreased their target price on Amgen from $310.00 to $295.00 and set a “neutral” rating for the company in a research note on Tuesday, January 28th. Two research 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $314.09.

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 1,589 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total value of $483,802.83. Following the completion of the transaction, the senior vice president now owns 7,210 shares in the company, valued at $2,195,228.70. The trade was a 18.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Jonathan P. Graham sold 25,045 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $293.12, for a total value of $7,341,190.40. Following the completion of the transaction, the executive vice president now owns 28,987 shares in the company, valued at $8,496,669.44. The trade was a 46.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.69% of the stock is currently owned by company insiders.

Amgen Stock Up 0.4 %

Shares of NASDAQ:AMGN opened at $294.79 on Tuesday. The company has a market capitalization of $158.46 billion, a PE ratio of 39.05, a P/E/G ratio of 3.01 and a beta of 0.56. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.96 and a current ratio of 1.26. The company’s fifty day moving average is $272.26 and its 200-day moving average is $302.77. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN) last posted its earnings results 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%. Equities research analysts predict that Amgen Inc. will post 20.59 earnings per share for the current fiscal year.

Amgen Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be paid a $2.38 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.23%. Amgen’s dividend payout ratio (DPR) is 119.21%.

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.