Madison Investment Advisors LLC Invests $1.95 Million in Amgen Inc. (NASDAQ:AMGN)

Madison Investment Advisors LLC bought a new stake in Amgen Inc. (NASDAQ:AMGN - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 7,472 shares of the medical research company's stock, valued at approximately $1,948,000.

Other large investors have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new position in shares of Amgen during the 3rd quarter worth approximately $29,000. Centricity Wealth Management LLC purchased a new position in Amgen in the fourth quarter worth $25,000. Synergy Investment Management LLC acquired a new position in shares of Amgen during the fourth quarter worth $34,000. Heck Capital Advisors LLC purchased a new stake in shares of Amgen during the 4th quarter valued at $36,000. Finally, PrairieView Partners LLC boosted its position in shares of Amgen by 118.3% in 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 in the last quarter. 76.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Amgen

In related news, SVP Nancy A. Grygiel sold 1,589 shares of the company's stock in a transaction dated 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 owns 7,210 shares of the company's stock, valued at approximately $2,195,228.70. This represents a 18.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jonathan P. Graham sold 25,045 shares of the firm's stock in a transaction that occurred 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 directly owns 28,987 shares in the company, valued at $8,496,669.44. This trade represents a 46.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,341 shares of company stock worth $20,644,335. Corporate insiders own 0.69% of the company's stock.

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Analyst Upgrades and Downgrades

AMGN has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft decreased their price target on Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Citigroup reiterated a "neutral" rating on shares of Amgen in a research note on Wednesday, February 5th. Royal Bank of Canada restated an "outperform" rating and set a $324.00 price target on shares of Amgen in a research note on Friday, January 24th. Piper Sandler Companies reiterated an "overweight" rating and set a $310.00 price objective on shares of Amgen in a research note on Thursday, January 2nd. Finally, Bank of America upped their target price on Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a research report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $314.04.

Amgen Price Performance

NASDAQ AMGN traded down $1.15 during trading hours on Wednesday, reaching $305.71. The company's stock had a trading volume of 2,374,810 shares, compared to its average volume of 2,548,827. 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 Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The company's 50-day moving average is $298.92 and its two-hundred day moving average is $298.41. The firm has a market capitalization 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.

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 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%. On average, equities analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 annualized dividend and a dividend yield of 3.11%. Amgen's dividend payout ratio (DPR) is presently 126.09%.

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.