KLP Kapitalforvaltning AS Takes $47 Million Position in Amgen Inc. (NASDAQ:AMGN)

KLP Kapitalforvaltning AS acquired a new stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 180,316 shares of the medical research company's stock, valued at approximately $46,998,000.

Several other institutional investors have also modified their holdings of the stock. Talbot Financial LLC boosted its holdings in Amgen by 5.6% in the 4th quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company's stock worth $11,153,000 after buying an additional 2,274 shares during the last quarter. Asset Advisors Investment Management LLC lifted its position in shares of Amgen by 9.0% in the third quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company's stock valued at $11,578,000 after acquiring an additional 2,954 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Amgen by 6.0% in the third quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company's stock worth $204,659,000 after acquiring an additional 35,785 shares during the last quarter. Ascent Wealth Partners LLC increased its position in shares of Amgen by 0.7% during the fourth quarter. Ascent Wealth Partners LLC now owns 9,024 shares of the medical research company's stock worth $2,352,000 after purchasing an additional 64 shares in the last quarter. Finally, ICICI Prudential Asset Management Co Ltd raised its stake in Amgen by 242.2% in the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 23,999 shares of the medical research company's stock valued at $6,255,000 after purchasing an additional 16,985 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

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Insider Activity

In related news, EVP David M. Reese sold 8,711 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $293.22, for a total transaction of $2,554,239.42. Following the sale, the executive vice president now directly owns 62,147 shares in the company, valued at approximately $18,222,743.34. This represents a 12.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Nancy A. Grygiel sold 1,589 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total transaction 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 approximately $2,195,228.70. This trade represents a 18.06 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,341 shares of company stock worth $20,644,335. Corporate insiders own 0.69% of the company's stock.

Wall Street Analysts Forecast Growth

AMGN has been the topic of several recent research reports. Piper Sandler lifted their target price 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. Johnson Rice set a $294.00 price objective on shares of Amgen in a research note on Wednesday, March 5th. Citigroup reissued a "neutral" rating on shares of Amgen in a research note on Wednesday, February 5th. Wells Fargo & Company restated an "equal weight" rating on shares of Amgen in a report on Wednesday, February 5th. Finally, Piper Sandler Companies reiterated an "overweight" rating and set a $310.00 price objective on shares of Amgen in a research report on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $314.04.

Amgen Trading Down 0.4 %

Shares of AMGN stock traded down $1.15 on Wednesday, hitting $305.71. The stock had a trading volume of 2,374,942 shares, compared to its average volume of 2,545,652. The company's 50 day moving average price is $299.66 and its 200-day moving average price is $298.46. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The firm has a market capitalization of $164.23 billion, a P/E ratio of 40.49, a P/E/G ratio of 2.63 and a beta of 0.53. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data 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 net margin of 12.24% and a return on equity of 176.32%. Analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be given a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date is Friday, May 16th. Amgen's dividend payout ratio 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.