Mitsubishi UFJ Trust & Banking Corp Reduces Its Stake in Amgen Inc.

Mitsubishi UFJ Trust & Banking Corp has reduced its holdings in Amgen Inc. (NASDAQ:AMGN) by 17.1% during the fourth quarter, as disclosed recently to the Securities & Exchange Commission. After selling 55,663 shares in the quarter, the firm now owns 270,089 shares of the biotechnology company's stock, which amounts to approximately 0.05% of the total shares. The value of Mitsubishi UFJ Trust & Banking Corp's stake in Amgen is reported to be about $70,396,000 according to their latest SEC filing.

Additionally, various other large investors have made recent adjustments to their positions in Amgen’s stock. For instance, Legacy Investment Solutions LLC acquired a new stake in Amgen worth $29,000 in the third quarter. Meanwhile, Centricity Wealth Management LLC made a similar investment in the fourth quarter valued at approximately $25,000. Synergy Investment Management LLC also purchased a stake estimated at $34,000 during the same timeframe. Atala Financial Inc. added another position worth around $34,000, while Heck Capital Advisors LLC also bought shares valued at $36,000. Overall, institutional investors and hedge funds control about 76.50% of Amgen’s stock.

Insider Sales at Amgen

In other notable movements, Amgen's executive vice president, Jonathan P. Graham, sold 25,045 shares in a transaction that occurred on February 7th. The shares were sold at an average price of $293.12, totaling around $7,341,190.40. As a result of this sale, Graham's direct ownership in the company dropped to 28,987 shares, valued at roughly $8,496,669.44, signifying a 46.35% decrease in his position. This transaction was reported in a filing with the SEC. Furthermore, senior vice president Nancy A. Grygiel sold 1,589 shares on February 5th at an average price of $304.47 for approximately $483,802.83. She now directly holds about 7,210 shares valued at around $2,195,228.70, reflecting an 18.06% reduction in her ownership. In total, insiders sold 69,341 shares of Amgen, valued at about $20,644,335 over the last three months, with only 0.69% of the stock currently owned by insiders.

Current Market Performance of Amgen

As of Wednesday, NASDAQ:AMGN opened at $306.86. The stock boasts a market capitalization of approximately $164.85 billion, a price-to-earnings ratio of 40.64, and a PEG ratio of 2.63. The stock has seen a 52-week low of $253.30 and a high of $346.85. Amgen's financial ratios include a quick ratio of 0.95 and a current ratio of 1.26, alongside a debt-to-equity ratio of 9.62. The company currently has a 50-day moving average of $298.92 and a 200-day average of $298.41.

In terms of earnings, Amgen reported earnings of $5.31 per share for the last quarter, exceeding analysts' estimates of $5.04 by $0.27. The company reported a return on equity of 176.32% and a net margin of 12.24%. Analysts project Amgen will achieve earnings per share of 20.62 for the current fiscal year.

Amgen’s Upcoming Dividend Payment

The company has also announced a quarterly dividend, which is set to be distributed on Friday, June 6th. Shareholders who are recorded on Friday, May 16th, will receive a dividend of $2.38 per share. The ex-dividend date is also on May 16th. This translates into an annualized dividend of $9.52, yielding approximately 3.10%. Amgen's current dividend payout ratio stands at 126.09%.

Recent Analyst Ratings for Amgen

Amgen has been closely watched by analysts, with several research firms issuing reports regarding its stock. Truist Financial revised their price target on Amgen from $333.00 down to $298.00, while maintaining a "hold" rating in a January report. Johnson Rice set their price target at $294.00. Bank of America increased their target on Amgen from $275.00 to $294.00 while assigning it an "underperform" rating. Citigroup also reaffirmed a "neutral" rating in early February, and UBS Group reiterated a "hold" rating in mid-February. In total, there are a mix of ratings: two analysts have rated the stock as a sell, ten have given it a hold rating, twelve have issued buy ratings, and one has assigned a strong buy rating. Amgen has an average rating of "Hold" and a target price estimate averaging $314.04.

About Amgen Inc.

Amgen Inc. is a biotechnology company that focuses on discovering, developing, manufacturing, and delivering human therapeutic products worldwide. Its primary products include Enbrel for treating plaque psoriasis and rheumatoid arthritis; Otezla for plaque psoriasis and associated oral ulcers; Prolia for osteoporosis; and Repatha for cardiovascular risk reduction, among others. The company is dedicated to advancing the field of medical research and addressing complex health challenges.

Mitsubishi, Amgen, Investment