Alexander Randolph Advisory Inc. Has $1.81 Million Holdings in Amgen Inc. (NASDAQ:AMGN)

Alexander Randolph Advisory Inc. reduced its holdings in Amgen Inc. (NASDAQ:AMGN) by 0.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,929 shares of the medical research company’s stock after selling 36 shares during the period. Amgen accounts for about 1.7% of Alexander Randolph Advisory Inc.’s portfolio, making the stock its 20th largest holding. Alexander Randolph Advisory Inc.’s holdings in Amgen were worth $1,806,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMGN. State Street Corp increased its position in shares of Amgen by 1.2% in the third quarter. State Street Corp now owns 29,317,018 shares of the medical research company’s stock valued at $9,446,236,000 after acquiring an additional 345,537 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Amgen by 0.9% in the third quarter. Geode Capital Management LLC now owns 12,122,889 shares of the medical research company’s stock valued at $3,893,771,000 after acquiring an additional 103,851 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Amgen by 2.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,532,629 shares of the medical research company’s stock worth $3,393,718,000 after purchasing an additional 251,876 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Amgen by 11.7% during the 3rd quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock worth $1,657,183,000 after purchasing an additional 538,545 shares during the last quarter. Finally, Pathway Financial Advisers LLC increased its position in shares of Amgen by 33,125.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock worth $1,437,115,000 after purchasing an additional 4,446,757 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Jonathan P. Graham sold 25,045 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $293.12, for a total transaction of $7,341,190.40. Following 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Nancy A. Grygiel sold 1,589 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total transaction of $483,802.83. Following 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 disclosure for this sale can be found here. Insiders have sold 69,341 shares of company stock valued at $20,644,335 in the last ninety days. 0.69% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AMGN. Redburn Partners lowered their target price on shares of Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Piper Sandler boosted their price target on Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. William Blair reissued an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. Finally, Leerink Partners decreased their target price on Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Amgen currently has an average rating of “Hold” and an average price target of $314.09.

Amgen Price Performance

Amgen stock opened at $303.01 on Friday. The stock’s 50 day moving average is $276.27 and its 200 day moving average is $300.40. 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 firm has a market cap of $162.78 billion, a P/E ratio of 40.13, a P/E/G ratio of 2.58 and a beta of 0.56. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85.

Amgen (NASDAQ:AMGN) last issued 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 net margin of 12.24% and a return on equity of 176.32%. As a group, research analysts expect that Amgen Inc. will post 20.6 EPS for the current year.

Amgen Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be issued a $2.38 dividend. This is a positive change from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 annualized dividend and a yield of 3.14%. Amgen’s payout ratio is presently 126.09%.

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.