Optimum Investment Advisors has reduced its holdings in Amgen Inc. (NASDAQ: AMGN) by 10.5% during the second quarter of 2023. The investment firm now holds 1,106 shares of the biopharmaceutical company after selling 130 shares in this period. This adjustment has resulted in a total value of approximately $309,000, as disclosed in its latest filing with the U.S. Securities and Exchange Commission (SEC).
Several institutional investors have also made changes to their positions in Amgen. Notably, Vanguard Group Inc. increased its stake by 0.3% in the first quarter, now owning 52,870,453 shares valued at around $16.47 billion. Royal Bank of Canada raised its holdings by 6.0%, bringing its total to 4,883,134 shares worth approximately $1.52 billion. Additionally, Goldman Sachs Group Inc. boosted its stake by 5.8%, holding 4,454,164 shares valued at about $1.39 billion. Deutsche Bank AG and Dimensional Fund Advisors LP also increased their investments, reflecting a broader trend among institutional investors towards Amgen.
As of the latest data, institutional investors collectively own 76.50% of Amgen’s stock.
Current Stock Performance and Dividend Announcement
The share price of Amgen opened at $291.76 on September 12, 2023. The company’s stock has demonstrated stability, with a 50-day moving average price of $287.92 and a 200-day moving average of $287.36. Over the past year, Amgen has seen a low of $253.30 and a high of $335.88. The firm has a market capitalization of approximately $157.07 billion and a price-to-earnings (P/E) ratio of 23.86.
On September 12, Amgen announced a quarterly dividend of $2.38 per share, payable to investors who were on record as of August 22. This dividend translates to an annualized total of $9.52 and a yield of 3.3%. The company’s current dividend payout ratio stands at 77.84%.
Analyst Ratings and Insider Activity
Amgen has recently been the focus of various research reports. Morgan Stanley lifted its price target from $330.00 to $333.00, maintaining an “equal weight” rating. Citigroup also increased its price objective from $310.00 to $315.00 with a “neutral” rating. A consensus of analysts now rates Amgen as a “Hold,” with an average price target of $300.94.
In related news, Senior Vice President Nancy A. Grygiel sold 1,267 shares of Amgen on August 20 at an average price of $296.99, totaling approximately $376,286.33. Following the sale, she retains 7,209 shares, valued at about $2.14 million.
Amgen Inc. is a global leader in biotechnology, focusing on the discovery, development, manufacture, and delivery of innovative human therapeutics. Its prominent products include treatments for various conditions such as plaque psoriasis, osteoporosis, and multiple myeloma, highlighting the company’s extensive impact on the healthcare sector.
For more insights on Amgen and its performance, investors can refer to the latest financial disclosures and analyst ratings, which are readily available on finance platforms like MarketBeat.com.
