9,917 Shares in Amgen Inc. (NASDAQ:AMGN) Purchased by JPL Wealth Management LLC

JPL Wealth Management LLC bought a new position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 9,917 shares of the medical research company's stock, valued at approximately $2,585,000.

Other hedge funds have also made changes to their positions in the company. Swedbank AB increased its position in Amgen by 1.1% in the 3rd quarter. Swedbank AB now owns 538,899 shares of the medical research company's stock valued at $173,639,000 after acquiring an additional 5,751 shares in the last quarter. Harbour Investments Inc. increased its position in Amgen by 9.5% in the 3rd quarter. Harbour Investments Inc. now owns 5,588 shares of the medical research company's stock valued at $1,801,000 after acquiring an additional 483 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in Amgen in the 3rd quarter valued at about $876,000. Aptus Capital Advisors LLC increased its position in Amgen by 25.4% in the 3rd quarter. Aptus Capital Advisors LLC now owns 27,233 shares of the medical research company's stock valued at $8,775,000 after acquiring an additional 5,515 shares in the last quarter. Finally, Dillon & Associates Inc. increased its position in Amgen by 1.7% in the 3rd quarter. Dillon & Associates Inc. now owns 2,661 shares of the medical research company's stock valued at $857,000 after acquiring an additional 45 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Analyst Ratings Changes

AMGN has been the topic of several recent research reports. Leerink Partners reduced their target price on shares of Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $324.00 target price on shares of Amgen in a research note on Friday, January 24th. Wolfe Research initiated coverage on shares of Amgen in a research note on Friday, November 15th. They issued a "peer perform" rating on the stock. Piper Sandler Companies reaffirmed an "overweight" rating and issued a $310.00 target price on shares of Amgen in a research note on Thursday, January 2nd. Finally, Bank of America raised their target price on shares of Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a research note on Wednesday, March 5th. 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 given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $314.04.

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Insider Activity

In other news, EVP David M. Reese sold 25,225 shares of Amgen stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $304.44, for a total value of $7,679,499.00. Following the sale, the executive vice president now directly owns 36,922 shares in the company, valued at $11,240,533.68. This trade represents a 40.59 % 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, SVP Nancy A. Grygiel sold 1,589 shares of the business's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total transaction 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. The trade was a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,341 shares of company stock worth $20,644,335 over the last ninety days. Insiders own 0.69% of the company's stock.

Amgen Stock Performance

Shares of AMGN opened at $312.50 on Thursday. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The firm's 50 day moving average price is $289.70 and its two-hundred day moving average price is $299.52. The firm has a market cap of $167.88 billion, a P/E ratio of 41.39, a PEG ratio of 2.63 and a beta of 0.53.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data 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 net margin of 12.24% and a return on equity of 176.32%. On average, analysts forecast that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be issued a $2.38 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.05%. 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.

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