Abacus FCF Advisors LLC Has $4.83 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Abacus FCF Advisors LLC increased its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 45.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,516 shares of the medical research company's stock after purchasing an additional 5,828 shares during the quarter. Abacus FCF Advisors LLC's holdings in Amgen were worth $4,826,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Blossom Wealth Management lifted its position in Amgen by 3.5% in the 4th quarter. Blossom Wealth Management now owns 1,090 shares of the medical research company's stock valued at $284,000 after purchasing an additional 37 shares during the last quarter. Zullo Investment Group Inc. grew its position in Amgen by 2.8% in the 4th quarter. Zullo Investment Group Inc. now owns 1,364 shares of the medical research company's stock worth $356,000 after purchasing an additional 37 shares during the last quarter. Trillium Asset Management LLC increased its stake in shares of Amgen by 4.2% in the fourth quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company's stock valued at $237,000 after purchasing an additional 37 shares during the period. Prestige Wealth Management Group LLC raised its holdings in shares of Amgen by 2.8% during the third quarter. Prestige Wealth Management Group LLC now owns 1,387 shares of the medical research company's stock valued at $447,000 after buying an additional 38 shares during the last quarter. Finally, Evermay Wealth Management LLC boosted its position in shares of Amgen by 1.5% during the fourth quarter. Evermay Wealth Management LLC now owns 2,650 shares of the medical research company's stock worth $691,000 after buying an additional 38 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Amgen Stock Up 1.6 %

Shares of Amgen stock traded up $4.57 during midday trading on Friday, hitting $285.98. The company's stock had a trading volume of 3,466,932 shares, compared to its average volume of 2,779,713. The firm has a market capitalization of $153.76 billion, a P/E ratio of 37.88, a PEG ratio of 2.63 and a beta of 0.59. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. 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 stock has a 50-day simple moving average of $304.33 and a 200-day simple moving average of $295.11.

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 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 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be issued a dividend of $2.38 per share. The ex-dividend date is Friday, May 16th. This represents a $9.52 annualized dividend and a dividend yield of 3.33%. Amgen's dividend payout ratio is 126.09%.

Analyst Ratings Changes

Several research firms recently commented on AMGN. Bank of America raised 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. Piper Sandler Companies reissued an "overweight" rating and set a $310.00 price target on shares of Amgen in a report on Thursday, January 2nd. Johnson Rice set a $294.00 price objective on shares of Amgen in a report on Wednesday, March 5th. UBS Group reissued a "hold" rating on shares of Amgen in a research note on Wednesday, February 12th. Finally, Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Amgen in a research note on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $315.22.

Insider Activity at Amgen

In other Amgen 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 completion of the sale, the executive vice president now directly owns 36,922 shares in the company, valued at $11,240,533.68. The trade was a 40.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Murdo Gordon sold 8,771 shares of the 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 transaction, the executive vice president now owns 44,186 shares in the company, valued at approximately $13,025,590.94. This trade represents a 16.56 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,341 shares of company stock valued at $20,644,335. Insiders own 0.69% of the company's stock.

About Amgen

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.