Sonora Investment Management LLC Has $6.47 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)


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Sonora Investment Management LLC lifted its stake in Amgen Inc. (NASDAQ:AMGN) by 4.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 26,020 shares of the medical research company’s stock after acquiring an additional 1,045 shares during the quarter. Sonora Investment Management LLC’s holdings in Amgen were worth $6,474,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in AMGN. Security National Trust Co. increased its position in Amgen by 0.4% during the 4th quarter. Security National Trust Co. now owns 10,089 shares of the medical research company’s stock valued at $2,320,000 after purchasing an additional 40 shares during the period. Moody Lynn & Lieberson LLC grew its position in shares of Amgen by 2.6% in the 1st quarter. Moody Lynn & Lieberson LLC now owns 1,565 shares of the medical research company’s stock worth $389,000 after buying an additional 40 shares during the last quarter. Lederer & Associates Investment Counsel CA grew its position in shares of Amgen by 0.4% in the 1st quarter. Lederer & Associates Investment Counsel CA now owns 10,280 shares of the medical research company’s stock worth $2,558,000 after buying an additional 41 shares during the last quarter. Aspiriant LLC boosted its stake in Amgen by 2.1% in the 4th quarter. Aspiriant LLC now owns 2,055 shares of the medical research company’s stock worth $473,000 after purchasing an additional 42 shares in the last quarter. Finally, Nachman Norwood & Parrott Inc boosted its stake in Amgen by 0.5% in the 4th quarter. Nachman Norwood & Parrott Inc now owns 8,816 shares of the medical research company’s stock worth $2,027,000 after purchasing an additional 43 shares in the last quarter. 75.23% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Ronald D. Sugar sold 1,000 shares of the stock in a transaction on Wednesday, April 14th. The stock was sold at an average price of $249.98, for a total value of $249,980.00. Following the completion of the sale, the director now directly owns 16,927 shares in the company, valued at $4,231,411.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jonathan P. Graham sold 11,110 shares of the stock in a transaction on Thursday, February 4th. The shares were sold at an average price of $236.51, for a total value of $2,627,626.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,360 shares of company stock worth $3,407,034. Corporate insiders own 0.36% of the company’s stock.

Several research firms recently issued reports on AMGN. Atlantic Securities reiterated an “underweight” rating and issued a $200.00 target price on shares of Amgen in a research note on Tuesday. Royal Bank of Canada decreased their target price on shares of Amgen from $220.00 to $217.00 and set a “sector perform” rating on the stock in a research report on Tuesday. Piper Sandler cut their target price on shares of Amgen from $280.00 to $260.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 3rd. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $215.00 price target on shares of Amgen in a research note on Wednesday, April 28th. Finally, Cantor Fitzgerald increased their price target on shares of Amgen from $280.00 to $295.00 and gave the company an “overweight” rating in a research note on Wednesday, February 3rd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $255.62.

Shares of AMGN stock traded down $2.14 during mid-day trading on Tuesday, reaching $243.24. The stock had a trading volume of 15,613 shares, compared to its average volume of 2,714,429. The firm’s 50 day simple moving average is $248.86 and its 200 day simple moving average is $236.11. The company has a quick ratio of 1.88, a current ratio of 2.28 and a debt-to-equity ratio of 3.12. Amgen Inc. has a one year low of $210.28 and a one year high of $276.69. The firm has a market cap of $140.06 billion, a PE ratio of 19.79, a P/E/G ratio of 1.90 and a beta of 0.76.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Monday, April 26th. The medical research company reported $3.70 earnings per share for the quarter, missing the Zacks’ consensus estimate of $4.05 by ($0.35). Amgen had a net margin of 29.42% and a return on equity of 95.55%. The business had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6.30 billion. During the same period in the prior year, the business earned $4.17 earnings per share. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. Sell-side analysts forecast that Amgen Inc. will post 16.15 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 8th. Shareholders of record on Monday, May 17th will be issued a dividend of $1.76 per share. The ex-dividend date is Friday, May 14th. This represents a $7.04 annualized dividend and a yield of 2.89%. Amgen’s dividend payout ratio is presently 47.50%.

Amgen Company Profile

Amgen, Inc is a biotechnology company, which engages in the discovery, development, manufacture and marketing of human therapeutics. Its products include the following brands: Aranesp, BLINCYTO, Corlanor, ENBREL, EPOGEN, IMLYGIC, KYPROLIS, Neulasta, NEUPOGEN, Nplate, Parsabiv, Prolia, Repatha, Sensipar, Vectibix, and XGEVA.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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