Woodmont Investment Counsel LLC Sells 75 Shares of Amgen Inc. (NASDAQ:AMGN)

Woodmont Investment Counsel LLC reduced its stake in Amgen Inc. (NASDAQ:AMGN) by 3.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,153 shares of the medical research company’s stock after selling 75 shares during the period. Woodmont Investment Counsel LLC’s holdings in Amgen were worth $561,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of AMGN. Talbot Financial LLC grew its position in Amgen by 5.6% in the fourth quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company’s stock valued at $11,153,000 after acquiring an additional 2,274 shares during the period. Asset Advisors Investment Management LLC grew its holdings 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 purchasing an additional 2,954 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Amgen by 6.0% during the 3rd quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company’s stock worth $204,659,000 after purchasing an additional 35,785 shares in the last quarter. Ascent Wealth Partners LLC lifted its holdings in Amgen by 0.7% during the 4th quarter. Ascent Wealth Partners LLC now owns 9,024 shares of the medical research company’s stock valued at $2,352,000 after purchasing an additional 64 shares during the last quarter. Finally, ICICI Prudential Asset Management Co Ltd grew its stake in Amgen by 242.2% during the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 23,999 shares of the medical research company’s stock worth $6,255,000 after buying an additional 16,985 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on AMGN shares. UBS Group reiterated a “hold” rating on shares of Amgen in a research note on Wednesday, February 12th. Piper Sandler lifted their price objective on Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Piper Sandler Companies restated an “overweight” rating and set a $310.00 target price on shares of Amgen in a report on Thursday, January 2nd. StockNews.com cut Amgen from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. Finally, Truist Financial decreased their price objective on shares of Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $314.04.

Amgen Stock Down 0.5 %

Amgen stock opened at $314.38 on Tuesday. The firm has a market capitalization of $168.89 billion, a price-to-earnings ratio of 41.64, a PEG ratio of 2.63 and a beta of 0.53. The company’s 50 day simple moving average is $298.13 and its 200 day simple moving average is $298.50. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, topping 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%. As a group, sell-side analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be paid a $2.38 dividend. The ex-dividend date is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a yield of 3.03%. Amgen’s payout ratio is 126.09%.

Insider Transactions at Amgen

In other news, EVP David M. Reese sold 25,225 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 36,922 shares in the company, valued at $11,240,533.68. This represents a 40.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $483,802.83. Following the sale, the senior vice president now owns 7,210 shares in the company, valued at approximately $2,195,228.70. The trade was 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 valued at $20,644,335 over the last 90 days. 0.69% of the stock is owned by company insiders.

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.