ZEGA Investments LLC Invests $599,000 in Amgen Inc. (NASDAQ:AMGN)

ZEGA Investments LLC bought a new position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,176 shares of the medical research company's stock, valued at approximately $599,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMGN. Millstone Evans Group LLC bought a new stake in shares of Amgen during the 4th quarter valued at $179,000. Summit Global Investments bought a new stake in Amgen during the fourth quarter valued at about $3,690,000. Sector Gamma AS lifted its position in shares of Amgen by 187.5% in the fourth quarter. Sector Gamma AS now owns 46,000 shares of the medical research company's stock valued at $11,989,000 after acquiring an additional 30,000 shares in the last quarter. TD Private Client Wealth LLC boosted its stake in shares of Amgen by 4.6% in the fourth quarter. TD Private Client Wealth LLC now owns 22,638 shares of the medical research company's stock worth $5,900,000 after acquiring an additional 996 shares during the period. Finally, Gutierrez Wealth Advisory LLC purchased a new stake in shares of Amgen during the fourth quarter worth about $318,000. Institutional investors own 76.50% of the company's stock.

Amgen Trading Down 0.4 %

Shares of Amgen stock traded down $1.15 during trading on Wednesday, hitting $305.71. The stock had a trading volume of 2,374,942 shares, compared to its average volume of 2,548,828. The stock has a market cap of $164.23 billion, a PE ratio of 40.49, a PEG ratio of 2.63 and a beta of 0.53. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The firm's fifty day simple moving average is $298.92 and its 200-day simple moving average is $298.41. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95.

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Amgen (NASDAQ:AMGN - Get Free Report) last announced its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (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, sell-side analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be paid 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 of this dividend is Friday, May 16th. Amgen's dividend payout ratio is currently 126.09%.

Wall Street Analysts Forecast Growth

AMGN has been the topic of a number of research analyst reports. UBS Group reissued a "hold" rating on shares of Amgen in a report on Wednesday, February 12th. StockNews.com lowered shares of Amgen from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, December 18th. Citigroup reaffirmed a "neutral" rating on shares of Amgen in a research note on Wednesday, February 5th. Piper Sandler Companies reiterated an "overweight" rating and issued a $310.00 price target on shares of Amgen in a research note on Thursday, January 2nd. Finally, Leerink Partners cut their price objective on Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $314.04.

Insider Transactions at Amgen

In other Amgen news, EVP Murdo Gordon sold 8,771 shares of Amgen stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $294.79, for a total transaction of $2,585,603.09. Following the completion of the sale, the executive vice president now directly owns 44,186 shares of the company's stock, valued at $13,025,590.94. The trade was a 16.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP David M. Reese sold 25,225 shares of the company's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $304.44, for a total value of $7,679,499.00. Following the completion of the sale, the executive vice president now owns 36,922 shares of the company's stock, valued at $11,240,533.68. This represents a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,341 shares of company stock worth $20,644,335. Insiders own 0.69% of the company's stock.

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.