Forefront Wealth Management Inc. acquired a new position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 3,996 shares of the medical research company's stock, valued at approximately $1,041,000. Amgen comprises 1.0% of Forefront Wealth Management Inc.'s holdings, making the stock its 28th biggest position.
Several other large investors have also recently added to or reduced their stakes in AMGN. State Street Corp increased its holdings in shares of Amgen by 1.2% in the 3rd quarter. State Street Corp now owns 29,317,018 shares of the medical research company's stock worth $9,446,236,000 after acquiring an additional 345,537 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Amgen by 25.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company's stock valued at $3,441,909,000 after purchasing an additional 2,672,975 shares during the period. Geode Capital Management LLC boosted its position in shares of Amgen by 0.9% during the third quarter. Geode Capital Management LLC now owns 12,122,889 shares of the medical research company's stock worth $3,893,771,000 after buying an additional 103,851 shares during the period. Janus Henderson Group PLC boosted its position in shares of Amgen by 11.7% during the third quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company's stock worth $1,657,183,000 after buying an additional 538,545 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Amgen by 6.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,442,543 shares of the medical research company's stock valued at $1,431,432,000 after acquiring an additional 264,396 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.
Amgen Stock Down 0.4 %
Shares of AMGN traded down $1.15 during trading hours on Wednesday, reaching $305.71. The company's stock had a trading volume of 2,374,942 shares, compared to its average volume of 2,545,652. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The firm has a market cap of $164.23 billion, a price-to-earnings ratio of 40.49, a P/E/G ratio of 2.63 and a beta of 0.53. The company has a 50 day moving average of $298.92 and a two-hundred day moving average of $298.41. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85.
Amgen (NASDAQ:AMGN - Get Free Report) last released 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 net margin of 12.24% and a return on equity of 176.32%. As a group, research analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.
Amgen Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be paid a $2.38 dividend. The ex-dividend date is Friday, May 16th. This represents a $9.52 annualized dividend and a dividend yield of 3.11%. Amgen's payout ratio is 126.09%.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on AMGN. Truist Financial reduced their price target on Amgen from $333.00 to $298.00 and set a "hold" rating for the company in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Johnson Rice set a $294.00 price target on shares of Amgen in a research note on Wednesday, March 5th. Leerink Partners lowered their price objective on shares of Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. Finally, Piper Sandler Companies restated an "overweight" rating and issued a $310.00 target price on shares of Amgen in a research report on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $314.04.
Check Out Our Latest Analysis on AMGN
Insider Buying and Selling
In related news, EVP David M. Reese sold 25,225 shares of the business's stock in a transaction that occurred 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 directly owns 36,922 shares in the company, valued at approximately $11,240,533.68. The trade was a 40.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now 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 quarter, insiders have sold 69,341 shares of company stock worth $20,644,335. Insiders own 0.69% of the company's stock.
Amgen Profile
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Free Report)
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.
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