Tandem Investment Partners LLC Purchases Shares of 1,747 Amgen Inc. (NASDAQ:AMGN)

Tandem Investment Partners LLC bought a new stake in Amgen Inc. (NASDAQ:AMGN - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,747 shares of the medical research company's stock, valued at approximately $455,000.

Several other hedge funds have also bought and sold shares of AMGN. Centricity Wealth Management LLC bought a new position in Amgen during the fourth quarter worth $25,000. Legacy Investment Solutions LLC acquired a new stake in shares of Amgen during the 3rd quarter worth about $29,000. Ritter Daniher Financial Advisory LLC DE boosted its holdings in shares of Amgen by 66.2% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock worth $33,000 after buying an additional 51 shares during the period. Synergy Investment Management LLC acquired a new position in Amgen in the 4th quarter valued at about $34,000. Finally, Atala Financial Inc bought a new position in Amgen in the 4th quarter valued at about $34,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Price Performance

NASDAQ AMGN traded up $4.57 during trading on Friday, hitting $285.98. 3,466,932 shares of the company's stock were exchanged, compared to its average volume of 2,777,164. The company has a market cap of $153.76 billion, a PE ratio of 37.88, a P/E/G ratio of 2.63 and a beta of 0.59. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The stock's 50 day moving average price is $304.33 and its two-hundred day moving average price is $295.27. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85.

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Amgen (NASDAQ:AMGN - Get Free Report) last issued its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. Research analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be given a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend is Friday, May 16th. Amgen's dividend payout ratio is currently 126.09%.

Insider Transactions at Amgen

In other news, SVP Nancy A. Grygiel sold 1,589 shares of the firm's stock in a transaction dated Wednesday, February 5th. The stock was 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 directly owns 7,210 shares in the company, valued at $2,195,228.70. This trade represents a 18.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Jonathan P. Graham sold 25,045 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $293.12, for a total value of $7,341,190.40. Following the completion of the sale, the executive vice president now directly owns 28,987 shares of the company's stock, valued at $8,496,669.44. This trade represents a 46.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 69,341 shares of company stock worth $20,644,335 over the last ninety days. 0.69% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AMGN. Citigroup restated a "neutral" rating on shares of Amgen in a report on Wednesday, February 5th. UBS Group reiterated a "hold" rating on shares of Amgen in a research report on Wednesday, February 12th. Piper Sandler Companies reissued an "overweight" rating and issued a $310.00 target price on shares of Amgen in a research report on Thursday, January 2nd. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Amgen in a research report on Wednesday, February 5th. Finally, Piper Sandler lifted their price objective on shares of Amgen from $310.00 to $329.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Amgen presently has an average rating of "Moderate Buy" and an average target price of $315.22.

Amgen 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.