Amgen Inc. (NASDAQ:AMGN) Shares Bought by Advisors Capital Management LLC

Advisors Capital Management LLC boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 6.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,649 shares of the medical research company's stock after purchasing an additional 3,427 shares during the quarter. Advisors Capital Management LLC's holdings in Amgen were worth $15,286,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Blossom Wealth Management boosted its position in Amgen by 3.5% in the fourth quarter. Blossom Wealth Management now owns 1,090 shares of the medical research company's stock worth $284,000 after purchasing an additional 37 shares during the last quarter. Zullo Investment Group Inc. raised its holdings 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 period. Trillium Asset Management LLC lifted its position in Amgen by 4.2% during 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 in the last quarter. Evermay Wealth Management LLC grew its holdings in Amgen by 1.5% during the fourth quarter. Evermay Wealth Management LLC now owns 2,650 shares of the medical research company's stock valued at $691,000 after purchasing an additional 38 shares during the period. Finally, Great Lakes Retirement Inc. grew its holdings in Amgen by 0.4% during the fourth quarter. Great Lakes Retirement Inc. now owns 10,220 shares of the medical research company's stock valued at $2,664,000 after purchasing an additional 38 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,589 shares of the business's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total value of $483,802.83. Following the completion of the transaction, the senior vice president now 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP David M. Reese sold 25,225 shares of the firm's stock in a transaction dated Friday, February 21st. The stock was 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 approximately $11,240,533.68. This trade represents a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,341 shares of company stock worth $20,644,335 over the last three months. Company insiders own 0.69% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on AMGN shares. Truist Financial cut their price objective on Amgen from $333.00 to $298.00 and set a "hold" rating for the company in a research note on Wednesday, January 8th. Citigroup reissued a "neutral" rating on shares of Amgen in a research note on Wednesday, February 5th. Wells Fargo & Company restated an "equal weight" rating on shares of Amgen in a research report on Wednesday, February 5th. UBS Group upped their target price on shares of Amgen from $315.00 to $319.00 and gave the stock a "neutral" rating in a report on Monday, April 14th. Finally, Piper Sandler Companies reissued an "overweight" rating and set a $310.00 target price on shares of Amgen in a research note on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Amgen presently has a consensus rating of "Moderate Buy" and an average target price of $314.91.

Amgen Stock Performance

Shares of NASDAQ AMGN traded down $5.35 during midday trading on Friday, reaching $277.29. The company had a trading volume of 4,371,822 shares, compared to its average volume of 2,796,109. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The business's 50-day simple moving average is $303.04 and its 200 day simple moving average is $294.22. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The stock has a market cap of $149.09 billion, a P/E ratio of 36.73, a P/E/G ratio of 2.63 and a beta of 0.59.

Amgen (NASDAQ:AMGN - Get Free Report) last issued 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%. On average, analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced 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 of this dividend is Friday, May 16th. This represents a $9.52 annualized dividend and a dividend yield of 3.43%. 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.