Amgen Inc. (NASDAQ:AMGN) Shares Sold by Sawtooth Solutions LLC

Sawtooth Solutions LLC cut its stake in shares of Amgen Inc. (NASDAQ:AMGNGet Rating) by 18.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,490 shares of the medical research company’s stock after selling 1,460 shares during the quarter. Sawtooth Solutions LLC’s holdings in Amgen were worth $1,570,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Norges Bank purchased a new position in Amgen in the fourth quarter worth $1,138,930,000. BlackRock Inc. raised its position in Amgen by 2.1% in the fourth quarter. BlackRock Inc. now owns 50,046,345 shares of the medical research company’s stock worth $11,258,926,000 after acquiring an additional 1,032,929 shares in the last quarter. Renaissance Technologies LLC raised its position in Amgen by 625.6% in the fourth quarter. Renaissance Technologies LLC now owns 1,101,853 shares of the medical research company’s stock worth $247,884,000 after acquiring an additional 950,008 shares in the last quarter. Aaron Wealth Advisors LLC raised its position in Amgen by 24,993.2% in the first quarter. Aaron Wealth Advisors LLC now owns 852,415 shares of the medical research company’s stock worth $3,525,000 after acquiring an additional 849,018 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in Amgen by 164.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,337,970 shares of the medical research company’s stock worth $323,548,000 after acquiring an additional 832,885 shares in the last quarter. 77.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AMGN. Oppenheimer restated an “outperform” rating and issued a $290.00 price target on shares of Amgen in a research report on Wednesday. Atlantic Securities dropped their price target on Amgen from $190.00 to $182.00 and set an “underweight” rating for the company in a research report on Tuesday, August 9th. Piper Sandler raised their price target on Amgen from $260.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday, August 5th. TheStreet upgraded Amgen from a “c+” rating to a “b” rating in a research report on Monday, August 15th. Finally, StockNews.com cut Amgen from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 8th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, Amgen has an average rating of “Hold” and a consensus target price of $241.13.

Insider Activity

In other news, Director R Sanders Williams sold 200 shares of Amgen stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $249.96, for a total value of $49,992.00. Following the transaction, the director now directly owns 5,301 shares of the company’s stock, valued at approximately $1,325,037.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Robert Eckert sold 6,600 shares of Amgen stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $249.00, for a total value of $1,643,400.00. Following the transaction, the director now directly owns 21,184 shares of the company’s stock, valued at approximately $5,274,816. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director R Sanders Williams sold 200 shares of Amgen stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $249.96, for a total value of $49,992.00. Following the completion of the transaction, the director now directly owns 5,301 shares in the company, valued at $1,325,037.96. The disclosure for this sale can be found here. Corporate insiders own 0.46% of the company’s stock.

Amgen Stock Up 0.6 %

Shares of NASDAQ:AMGN opened at $228.12 on Thursday. The stock’s 50-day moving average price is $246.02 and its two-hundred day moving average price is $243.53. The company has a current ratio of 1.53, a quick ratio of 1.17 and a debt-to-equity ratio of 14.76. Amgen Inc. has a 12-month low of $198.64 and a 12-month high of $258.45. The firm has a market cap of $122.03 billion, a price-to-earnings ratio of 19.33, a PEG ratio of 2.00 and a beta of 0.56.

Amgen (NASDAQ:AMGNGet Rating) last issued its quarterly earnings results on Thursday, August 4th. The medical research company reported $4.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.40 by $0.25. Amgen had a return on equity of 218.34% and a net margin of 24.92%. The firm had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.53 billion. During the same period last year, the company earned $4.38 EPS. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. On average, research analysts forecast that Amgen Inc. will post 17.45 EPS for the current year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 8th. Stockholders of record on Thursday, August 18th were paid a $1.94 dividend. This represents a $7.76 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend was Wednesday, August 17th. Amgen’s dividend payout ratio is currently 65.76%.

Amgen Company Profile

(Get Rating)

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.

See Also

Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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