PNC Financial Services Group Inc. Sells 21,757 Shares of Amgen Inc. (NASDAQ:AMGN)

PNC Financial Services Group Inc. lowered its position in Amgen Inc. (NASDAQ:AMGN) by 2.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,017,963 shares of the medical research company’s stock after selling 21,757 shares during the period. PNC Financial Services Group Inc. owned 0.19% of Amgen worth $265,322,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Talbot Financial LLC raised its position in shares of Amgen by 5.6% in the 4th quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company’s stock worth $11,153,000 after acquiring an additional 2,274 shares in the last quarter. Swiss National Bank raised its position in shares of Amgen by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock worth $513,033,000 after acquiring an additional 5,500 shares in the last quarter. Asset Advisors Investment Management LLC raised its position in shares of Amgen by 9.0% in 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 acquiring an additional 2,954 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Amgen by 6.0% in the 3rd quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company’s stock worth $204,659,000 after acquiring an additional 35,785 shares in the last quarter. Finally, Ascent Wealth Partners LLC grew its stake in shares of Amgen by 0.7% in the 4th quarter. Ascent Wealth Partners LLC now owns 9,024 shares of the medical research company’s stock worth $2,352,000 after buying an additional 64 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Insider Transactions at Amgen

In related news, EVP David M. Reese sold 25,225 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now directly owns 36,922 shares of the company’s stock, valued at approximately $11,240,533.68. This trade represents a 40.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of the firm’s stock in a transaction on 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 transaction, the senior vice president now directly owns 7,210 shares in the company, valued at approximately $2,195,228.70. This represents a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,341 shares of company stock worth $20,644,335 in the last ninety days. Insiders own 0.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AMGN. William Blair restated an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. StockNews.com downgraded Amgen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. Bank of America upped their price target on Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a research note on Wednesday. Truist Financial cut their price target on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Finally, Piper Sandler upped their price target on Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $314.95.

Amgen Stock Performance

AMGN stock opened at $324.86 on Friday. The company has a market cap of $174.52 billion, a P/E ratio of 43.03, a price-to-earnings-growth ratio of 2.63 and a beta of 0.56. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. 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’s fifty day moving average price is $286.14 and its 200-day moving average price is $299.89.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. On average, equities analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be paid a $2.38 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 2.93%. Amgen’s dividend payout ratio (DPR) 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.