Amgen Stake Sliced by Asset Dedication as Investors Adjust Positions

Asset Dedication LLC reduced its stake in Amgen Inc. (NASDAQ:AMGN) by 30.8% during the first quarter, according to a recent SEC filing.

The institutional investor sold 3,378 shares of the medical research company's stock, leaving it with 7,594 shares worth $2,672,000 as of its most recent disclosure.

Other large investors have also made changes to their positions in Amgen. Anfield Capital Management LLC increased its stake by 1,000.0% during the fourth quarter, while Dogwood Wealth Management LLC grew its position by 275.0% and Tower View Wealth Management LLC boosted its holding by 331.6%.

Amgen has a consensus rating of 'Hold' from analysts, with an average target price of $357.00. The company's quarterly dividend of $2.52 per share is payable on September 11th to shareholders of record on August 21st.