Advent Capital Management DE Invests $2.61 Million in Amgen Inc. (NASDAQ:AMGN)

Advent Capital Management DE acquired a new position in Amgen Inc. (NASDAQ:AMGN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,000 shares of the medical research company's stock, valued at approximately $2,606,000.

Other hedge funds have also modified their holdings of the company. Centricity Wealth Management LLC acquired a new position in Amgen during the 4th quarter worth $25,000. Ritter Daniher Financial Advisory LLC DE boosted its stake in shares of Amgen by 66.2% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock valued at $33,000 after buying an additional 51 shares during the period. Synergy Investment Management LLC purchased a new position in Amgen in the fourth quarter valued at about $34,000. Atala Financial Inc acquired a new position in Amgen in the fourth quarter worth approximately $34,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Amgen in the 4th quarter valued at $36,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AMGN has been the subject of several recent analyst reports. UBS Group increased their target price on Amgen from $315.00 to $319.00 and gave the company a "neutral" rating in a research note on Monday, April 14th. StockNews.com lowered Amgen from a "strong-buy" rating to a "buy" rating in a research note on Thursday. Wells Fargo & Company restated an "equal weight" rating on shares of Amgen in a report on Wednesday, February 5th. Piper Sandler upped their price target on Amgen from $310.00 to $329.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. Finally, Truist Financial reduced their price target on Amgen from $333.00 to $298.00 and set a "hold" rating on the stock in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $314.91.

Amgen Price Performance

Shares of Amgen stock traded down $3.91 during trading hours on Monday, hitting $273.38. The company's stock had a trading volume of 515,137 shares, compared to its average volume of 2,784,835. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. The company has a market cap of $146.98 billion, a PE ratio of 36.21, a PEG ratio of 2.63 and a beta of 0.59. The business has a 50 day moving average price of $303.04 and a two-hundred day moving average price of $293.88.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share 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%. Analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company 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. The ex-dividend date is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a yield of 3.48%. Amgen's dividend payout ratio is presently 126.09%.

Insider Activity

In other Amgen news, 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 value of $7,341,190.40. Following the sale, the executive vice president now directly owns 28,987 shares of the company's stock, valued at approximately $8,496,669.44. This trade represents a 46.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 directly owns 7,210 shares of the company's stock, valued at $2,195,228.70. The trade was a 18.06 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,341 shares of company stock worth $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.