Berkshire Asset Management LLC PA Sells 853 Shares of Amgen Inc. (NASDAQ:AMGN)

Berkshire Asset Management LLC PA cut its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 2.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,621 shares of the medical research company’s stock after selling 853 shares during the quarter. Berkshire Asset Management LLC PA’s holdings in Amgen were worth $7,883,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Andra AP fonden increased its holdings in shares of Amgen by 44.3% in the fourth quarter. Andra AP fonden now owns 40,400 shares of the medical research company’s stock worth $10,530,000 after purchasing an additional 12,400 shares during the last quarter. Edgestream Partners L.P. bought a new stake in shares of Amgen in the fourth quarter worth about $9,756,000. Marco Investment Management LLC grew its position in Amgen by 0.4% in the fourth quarter. Marco Investment Management LLC now owns 39,428 shares of the medical research company’s stock worth $10,277,000 after acquiring an additional 151 shares in the last quarter. West Family Investments Inc. grew its position in Amgen by 3.0% in the fourth quarter. West Family Investments Inc. now owns 2,129 shares of the medical research company’s stock worth $555,000 after acquiring an additional 63 shares in the last quarter. Finally, Destination Wealth Management purchased a new position in Amgen in the fourth quarter worth about $386,000. 76.50% of the stock is owned by institutional investors.

Insider Transactions at Amgen

In other news, SVP Nancy A. Grygiel sold 1,589 shares of the company’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 transaction, the senior vice president now directly owns 7,210 shares of the company’s stock, valued at approximately $2,195,228.70. This represents a 18.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Murdo Gordon sold 8,771 shares of the company’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 transaction, the executive vice president now directly owns 44,186 shares in the company, valued at approximately $13,025,590.94. The trade was a 16.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,341 shares of company stock valued at $20,644,335. Corporate insiders own 0.69% of the company’s stock.

Amgen Stock Performance

Shares of NASDAQ:AMGN opened at $317.82 on Friday. The company has a market capitalization of $170.73 billion, a price-to-earnings ratio of 42.10, a price-to-earnings-growth ratio of 2.63 and a beta of 0.56. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The firm has a 50 day moving average of $284.89 and a 200 day moving average of $299.91.

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 return on equity of 176.32% and a net margin of 12.24%. On average, sell-side analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be given a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s payout ratio is presently 126.09%.

Wall Street Analysts Forecast Growth

AMGN has been the subject of several recent research reports. Piper Sandler Companies reiterated an “overweight” rating and issued a $310.00 price target on shares of Amgen in a research report on Thursday, January 2nd. Bank of America lifted their price target on Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a research report on Wednesday. Piper Sandler lifted 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. Redburn Partners dropped their price target on Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Finally, Wells Fargo & Company restated an “equal weight” rating on shares of Amgen in a research report on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, ten have given 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, the stock currently has a consensus rating of “Hold” and an average price target of $314.95.

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.