Boston Financial Mangement LLC Decreases Holdings in Amgen Inc. (NASDAQ:AMGN)

Boston Financial Mangement LLC trimmed its position in shares of Amgen Inc. (NASDAQ:AMGN) by 8.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,735 shares of the medical research company’s stock after selling 688 shares during the period. Boston Financial Mangement LLC’s holdings in Amgen were worth $2,016,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of AMGN. Capital Performance Advisors LLP purchased a new position in Amgen in the 3rd quarter worth approximately $25,000. Legacy Investment Solutions LLC purchased a new position in Amgen in the 3rd quarter worth approximately $29,000. Heck Capital Advisors LLC purchased a new position in Amgen in the 4th quarter worth approximately $36,000. PrairieView Partners LLC increased its stake in Amgen by 118.3% in the 4th quarter. PrairieView Partners LLC now owns 179 shares of the medical research company’s stock worth $46,000 after purchasing an additional 97 shares during the period. Finally, Bank of Jackson Hole Trust purchased a new position in Amgen in the 4th quarter worth approximately $50,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AMGN shares. Redburn Partners cut their price objective on Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Piper Sandler lifted their price objective on Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Citigroup cut their price objective on Amgen from $310.00 to $295.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. Leerink Partners cut their price objective on Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Finally, Piper Sandler Companies reiterated an “overweight” rating and issued a $310.00 price objective on shares of Amgen in a research report on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Amgen has a consensus rating of “Hold” and an average target price of $314.09.

Amgen Trading Up 1.2 %

Amgen stock opened at $297.93 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The business’s fifty day simple moving average is $275.62 and its two-hundred day simple moving average is $300.75. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The company has a market capitalization of $160.05 billion, a price-to-earnings ratio of 39.46, a price-to-earnings-growth ratio of 2.54 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS 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%. As a group, equities analysts predict that Amgen Inc. will post 20.6 earnings per share for the current fiscal year.

Amgen Increases Dividend

The firm also recently declared 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 represents a $9.52 annualized dividend and a dividend yield of 3.20%. This is a boost from Amgen’s previous quarterly dividend of $2.25. Amgen’s payout ratio is currently 126.09%.

Insider Transactions at Amgen

In other news, SVP Nancy A. Grygiel sold 1,589 shares of the business’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 owns 7,210 shares in the company, valued at $2,195,228.70. The trade was a 18.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Murdo Gordon sold 8,771 shares of the business’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $294.79, for a total value of $2,585,603.09. Following the completion of the transaction, the executive vice president now owns 44,186 shares of the company’s stock, valued at $13,025,590.94. This represents a 16.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,405 shares of company stock worth $10,410,596 over the last quarter. 0.69% of the stock is currently owned by insiders.

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.