Greylin Investment Management Inc Sells 14,707 Shares of Amgen Inc. (NASDAQ:AMGN)

Greylin Investment Management Inc cut its holdings in Amgen Inc. (NASDAQ:AMGNFree Report) by 48.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,860 shares of the medical research company’s stock after selling 14,707 shares during the period. Amgen accounts for 0.7% of Greylin Investment Management Inc’s portfolio, making the stock its 26th largest holding. Greylin Investment Management Inc’s holdings in Amgen were worth $4,509,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. BIP Wealth LLC raised its stake in shares of Amgen by 2.6% in the fourth quarter. BIP Wealth LLC now owns 1,249 shares of the medical research company’s stock worth $360,000 after buying an additional 32 shares during the period. Southland Equity Partners LLC lifted its stake in shares of Amgen by 2.3% during the 4th quarter. Southland Equity Partners LLC now owns 1,538 shares of the medical research company’s stock valued at $443,000 after buying an additional 34 shares in the last quarter. Acropolis Investment Management LLC boosted its holdings in Amgen by 3.5% in the 4th quarter. Acropolis Investment Management LLC now owns 999 shares of the medical research company’s stock worth $288,000 after buying an additional 34 shares during the period. Opal Wealth Advisors LLC raised its holdings in Amgen by 1.9% during the fourth quarter. Opal Wealth Advisors LLC now owns 1,868 shares of the medical research company’s stock valued at $538,000 after acquiring an additional 34 shares during the period. Finally, Marino Stram & Associates LLC boosted its stake in shares of Amgen by 0.7% in the fourth quarter. Marino Stram & Associates LLC now owns 4,626 shares of the medical research company’s stock worth $1,332,000 after acquiring an additional 34 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Trading Down 0.9 %

Shares of NASDAQ:AMGN traded down $2.91 on Thursday, hitting $306.50. 2,139,341 shares of the company’s stock were exchanged, compared to its average volume of 2,835,861. The business’s 50 day simple moving average is $284.28 and its two-hundred day simple moving average is $285.28. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.42 and a quick ratio of 0.98. The stock has a market capitalization of $164.42 billion, a price-to-earnings ratio of 43.79, a price-to-earnings-growth ratio of 2.85 and a beta of 0.60. Amgen Inc. has a 12 month low of $211.71 and a 12 month high of $329.72.

Amgen (NASDAQ:AMGNGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.76 by $0.20. The company had revenue of $7.45 billion during the quarter, compared to analysts’ expectations of $7.45 billion. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The firm’s quarterly revenue was up 22.0% on a year-over-year basis. During the same period in the previous year, the company earned $3.98 EPS. Analysts anticipate that Amgen Inc. will post 19.46 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend payout ratio (DPR) is presently 128.57%.

Insiders Place Their Bets

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $313.09, for a total transaction of $662,811.53. Following the transaction, the senior vice president now owns 9,883 shares in the company, valued at $3,094,268.47. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on AMGN shares. Barclays raised shares of Amgen from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $230.00 to $300.00 in a report on Friday, May 3rd. Royal Bank of Canada reduced their price target on shares of Amgen from $332.00 to $328.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. Leerink Partnrs downgraded shares of Amgen from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 7th. UBS Group lifted their target price on Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Finally, Truist Financial reissued a “buy” rating and set a $320.00 price target on shares of Amgen in a research note on Friday, April 12th. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Amgen currently has an average rating of “Moderate Buy” and an average target price of $305.65.

Read Our Latest Report on AMGN

Amgen Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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