Atlas Legacy Advisors LLC Takes Position in Amgen Inc. (NASDAQ:AMGN)

Atlas Legacy Advisors LLC purchased a new stake in Amgen Inc. (NASDAQ:AMGN - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,670 shares of the medical research company's stock, valued at approximately $435,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Capital Performance Advisors LLP purchased a new position in Amgen in the third quarter worth approximately $25,000. Legacy Investment Solutions LLC purchased a new stake in shares of Amgen in the 3rd quarter valued at approximately $29,000. Heck Capital Advisors LLC acquired a new stake in shares of Amgen in the 4th quarter valued at $36,000. PrairieView Partners LLC lifted its position in shares of Amgen by 118.3% during the 4th quarter. PrairieView Partners LLC now owns 179 shares of the medical research company's stock worth $46,000 after purchasing an additional 97 shares during the last quarter. Finally, Bank of Jackson Hole Trust acquired a new position in shares of Amgen during the fourth quarter worth $50,000. Hedge funds and other institutional investors own 76.50% of the company's stock.

Insider Activity at Amgen

In other news, EVP Jonathan P. Graham sold 25,045 shares of Amgen stock in a transaction on Friday, February 7th. The stock was sold at an average price of $293.12, for a total transaction of $7,341,190.40. Following the completion of the transaction, the executive vice president now owns 28,987 shares of the company's stock, valued at $8,496,669.44. The trade was a 46.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Nancy A. Grygiel sold 1,589 shares of the company's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total value of $483,802.83. Following the completion of the sale, the senior vice president now owns 7,210 shares in the company, valued at $2,195,228.70. This represents a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,405 shares of company stock worth $10,410,596 over the last 90 days. Company insiders own 0.69% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on AMGN. Bank of America lifted their price target on Amgen from $256.00 to $275.00 and gave the stock an "underperform" rating in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft decreased their target price on Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Wells Fargo & Company dropped their price target on shares of Amgen from $335.00 to $280.00 and set an "equal weight" rating on the stock in a research note on Friday, January 10th. Wolfe Research assumed coverage on shares of Amgen in a report on Friday, November 15th. They set a "peer perform" rating on the stock. Finally, Truist Financial lowered their target price on shares of Amgen from $333.00 to $298.00 and set a "hold" rating for the company in a report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $314.09.

Amgen Stock Performance

NASDAQ AMGN traded up $5.08 during trading hours on Friday, hitting $303.01. 3,260,757 shares of the stock were exchanged, compared to its average volume of 3,124,757. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The stock has a 50-day moving average of $275.62 and a 200 day moving average of $300.75. The company has a market cap of $162.78 billion, a price-to-earnings ratio of 40.13, a price-to-earnings-growth ratio of 2.55 and a beta of 0.56. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, beating the consensus estimate of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. As a group, equities research analysts forecast that Amgen Inc. will post 20.6 earnings per share for the current year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be issued a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Amgen's previous quarterly dividend of $2.25. Amgen's dividend payout ratio (DPR) is currently 126.09%.

Amgen Company Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.