Burling Wealth Partners LLC Purchases New Position in Amgen Inc. (NASDAQ:AMGN)

Burling Wealth Partners LLC acquired a new stake in Amgen Inc. (NASDAQ:AMGN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 929 shares of the medical research company's stock, valued at approximately $242,000.

A number of other hedge funds also recently made changes to their positions in AMGN. Talbot Financial LLC increased its position in shares of Amgen by 5.6% in the fourth quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company's stock worth $11,153,000 after purchasing an additional 2,274 shares during the period. Asset Advisors Investment Management LLC raised its position in Amgen by 9.0% during the 3rd quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company's stock worth $11,578,000 after purchasing an additional 2,954 shares during the last quarter. Ascent Wealth Partners LLC boosted its holdings in Amgen by 0.7% in the fourth quarter. Ascent Wealth Partners LLC now owns 9,024 shares of the medical research company's stock valued at $2,352,000 after acquiring an additional 64 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Amgen by 6.0% in the 3rd quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company's stock valued at $204,659,000 after purchasing an additional 35,785 shares during the last quarter. Finally, ICICI Prudential Asset Management Co Ltd grew its holdings in Amgen by 242.2% during the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 23,999 shares of the medical research company's stock worth $6,255,000 after acquiring an additional 16,985 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on AMGN shares. Citigroup reissued a "neutral" rating on shares of Amgen in a research note on Wednesday, February 5th. StockNews.com downgraded shares of Amgen from a "strong-buy" rating to a "buy" rating in a report on Thursday, April 17th. Piper Sandler Companies reaffirmed an "overweight" rating and issued a $310.00 target price on shares of Amgen in a report on Thursday, January 2nd. Morgan Stanley raised their price objective on shares of Amgen from $328.00 to $330.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 9th. Finally, Truist Financial lowered their target price on Amgen from $333.00 to $298.00 and set a "hold" rating on the stock in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $310.57.

Amgen Trading Up 0.8 %

NASDAQ AMGN traded up $2.25 on Monday, hitting $283.09. The company's stock had a trading volume of 2,082,362 shares, compared to its average volume of 2,788,770. The firm has a market cap of $152.20 billion, a P/E ratio of 37.50, a PEG ratio of 2.63 and a beta of 0.59. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The company's 50-day simple moving average is $301.52 and its 200 day simple moving average is $292.42. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 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 predict 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. Shareholders of record on Friday, May 16th will be issued a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend is Friday, May 16th. Amgen's dividend payout ratio (DPR) is 126.09%.

Insiders Place Their Bets

In other news, EVP Jonathan P. Graham sold 25,045 shares of the business'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 transaction of $7,341,190.40. Following the completion of the transaction, the executive vice president now directly owns 28,987 shares of the company's stock, valued at $8,496,669.44. The trade was a 46.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David M. Reese sold 25,225 shares of the business's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the sale, the executive vice president now owns 36,922 shares of the company's stock, valued at approximately $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 three months, insiders have sold 69,341 shares of company stock valued at $20,644,335. 0.69% of the stock is currently owned by corporate insiders.

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.