Sovereign Financial Group Inc. Has $376,000 Holdings in Amgen Inc. (NASDAQ:AMGN)

Sovereign Financial Group Inc. trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 8.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,307 shares of the medical research company’s stock after selling 116 shares during the quarter. Sovereign Financial Group Inc.’s holdings in Amgen were worth $376,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Briaud Financial Planning Inc bought a new stake in Amgen during the third quarter worth approximately $26,000. BOK Financial Private Wealth Inc. bought a new stake in shares of Amgen during the 4th quarter worth $29,000. OFI Invest Asset Management acquired a new position in Amgen in the 3rd quarter valued at $26,000. Planned Solutions Inc. bought a new position in Amgen in the 4th quarter worth $30,000. Finally, Providence Capital Advisors LLC acquired a new position in Amgen during the 3rd quarter worth $30,000. 76.50% of the stock is currently owned by institutional investors.

Insider Activity

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $313.09, for a total transaction of $662,811.53. Following the sale, the senior vice president now owns 9,883 shares of the company’s stock, valued at approximately $3,094,268.47. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.69% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on AMGN shares. Leerink Partnrs cut Amgen from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 7th. Morgan Stanley increased their price objective on Amgen from $271.00 to $310.00 and gave the company an “equal weight” rating in a research report on Friday. Truist Financial reaffirmed a “buy” rating and set a $320.00 target price on shares of Amgen in a research report on Friday, April 12th. Raymond James began coverage on shares of Amgen in a report on Thursday, March 28th. They issued a “market perform” rating for the company. Finally, The Goldman Sachs Group upped their price objective on shares of Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $305.05.

Amgen Price Performance

Shares of NASDAQ:AMGN traded up $0.82 on Tuesday, hitting $300.30. The stock had a trading volume of 2,452,073 shares, compared to its average volume of 2,910,303. The company has a market capitalization of $161.07 billion, a price-to-earnings ratio of 42.90, a price-to-earnings-growth ratio of 3.00 and a beta of 0.60. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42. The firm’s 50 day moving average price is $275.65 and its 200-day moving average price is $281.74. Amgen Inc. has a twelve month low of $211.71 and a twelve month high of $329.72.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, topping the consensus estimate of $3.76 by $0.20. The company had revenue of $7.45 billion during the quarter, compared to analyst estimates of $7.45 billion. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The company’s revenue was up 22.0% on a year-over-year basis. During the same quarter last year, the business posted $3.98 earnings per share. On average, equities research analysts predict that Amgen Inc. will post 19.46 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 3.00%. The ex-dividend date is Thursday, May 16th. Amgen’s payout ratio is presently 128.57%.

Amgen Company Profile

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.