Gulf International Bank UK Ltd Reduces Amgen Inc. Stock Holdings

Gulf International Bank UK Ltd has decreased its investment in Amgen Inc. (NASDAQ:AMGN) by 2.5% during the fourth quarter, according to its latest filing with the Securities and Exchange Commission (SEC). After selling 1,041 shares in this period, the firm now holds a total of 41,281 shares of the biopharmaceutical company. The value of Gulf's holdings in Amgen is approximately $10.76 million based on this filing.

Other institutional investors have also been adjusting their positions in Amgen recently. For example, AMF Tjanstepension AB increased its stake by 16.9% last quarter, resulting in ownership of 120,389 shares valued at around $38.83 million after acquiring an additional 17,387 shares. Similarly, Swedbank AB added 1.1% to its holdings, bringing their total to 538,899 shares valued at about $173.64 million after purchasing an extra 5,751 shares.

In addition, Autumn Glory Partners LLC raised its stake by 23.5%, acquiring 152 more shares to reach a total of 798 worth around $268,000. Strategic Blueprint LLC also increased its holdings by 1.2%, owning 6,051 shares now valued at $1.95 million after adding 71 shares. Finally, Fidelis Capital Partners LLC increased its ownership by 2.1% with 4,449 shares valued at $1.40 million after acquiring 90 additional shares. Overall, institutional investors and hedge funds hold about 76.5% of Amgen's stock.

Current Stock Performance

Amgen's stock traded at $306.38 on Thursday, experiencing a decrease of 2.9%. It has recorded a low of $253.30 and a high of $346.85 over the past year. The company's 50-day moving average price is $279.08, while the 200-day moving average stands at $300.20. With a market capitalization of $164.59 billion, Amgen has a price-to-earnings ratio of 40.58 and a price-to-earnings-growth ratio of 2.63. The company also has a debt-to-equity ratio of 9.62 and current and quick ratios of 1.26 and 0.95 respectively.

Dividend Announcement

Recently, Amgen declared a quarterly dividend that is scheduled to be paid on Friday, March 7th. Shareholders recorded by February 14th will receive a dividend of $2.38 per share, amounting to an annualized dividend of $9.52 and a yield of 3.11%. This dividend shows an increase from the previously set quarterly amount of $2.25. The ex-dividend date is set for February 14th. Notably, Amgen's dividend payout ratio currently stands at 126.09%.

Analyst Insights and Ratings

Several analysts have recently commented on Amgen's shares. Wells Fargo & Company maintained an "equal weight" rating on the stock, while Citigroup reiterated a "neutral" rating. Redburn Partners reduced their price target from $200.00 to $195.00. Additionally, Bank of America raised its price target from $256.00 to $275.00 and categorized the stock as "underperform". Currently, the stock has received varying ratings: two analysts recommend selling, ten advise holding, and twelve suggest buying. The overall consensus rating for Amgen is "Hold" with an average target price of $314.09.

Insider Transactions

Recent insider trading includes SVP Nancy A. Grygiel selling 1,589 shares at an average price of $304.47, totaling approximately $483,802.83. Following this transaction, she holds 7,210 shares valued around $2.20 million. Additionally, EVP Jonathan P. Graham sold 25,045 shares at an average price of $293.12, resulting in a total worth of approximately $7.34 million. After this action, he retains 28,987 shares valued around $8.50 million. In total, insiders have sold 69,341 shares worth about $20.64 million in the last three months, and insiders now own 0.69% of Amgen's stock.

Company Overview

Amgen Inc. is a biotechnology company engaged in discovering, developing, manufacturing, and delivering human therapeutics globally. Some of their significant products include Enbrel, Otezla, Prolia, and Repatha, among others, which treat various conditions such as rheumatoid arthritis, osteoporosis, and high cholesterol levels.

Investment, Stocks, Holding