Sector Gamma AS Acquires 30,000 Shares of Amgen Inc. (NASDAQ:AMGN)

Sector Gamma AS raised its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 187.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,000 shares of the medical research company's stock after acquiring an additional 30,000 shares during the quarter. Amgen makes up 4.1% of Sector Gamma AS's investment portfolio, making the stock its 9th largest position. Sector Gamma AS's holdings in Amgen were worth $11,989,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMGN. Blossom Wealth Management raised its stake in shares of Amgen by 3.5% during the fourth quarter. Blossom Wealth Management now owns 1,090 shares of the medical research company's stock worth $284,000 after buying an additional 37 shares during the last quarter. Zullo Investment Group Inc. increased its position in shares of Amgen by 2.8% during the fourth quarter. Zullo Investment Group Inc. now owns 1,364 shares of the medical research company's stock worth $356,000 after acquiring an additional 37 shares in the last quarter. Trillium Asset Management LLC raised its holdings in shares of Amgen by 4.2% during the fourth quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company's stock worth $237,000 after acquiring an additional 37 shares during the period. Brooklyn Investment Group lifted its position in Amgen by 1.1% in the 3rd quarter. Brooklyn Investment Group now owns 3,377 shares of the medical research company's stock valued at $1,088,000 after acquiring an additional 38 shares in the last quarter. Finally, Prestige Wealth Management Group LLC increased its holdings in Amgen by 2.8% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 1,387 shares of the medical research company's stock worth $447,000 after purchasing an additional 38 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

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Insider Transactions at Amgen

In other news, EVP David M. Reese sold 25,225 shares of the stock in a transaction dated 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 transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Murdo Gordon sold 8,771 shares of Amgen stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $294.79, for a total transaction of $2,585,603.09. Following the sale, the executive vice president now directly owns 44,186 shares in the company, valued at $13,025,590.94. This trade represents a 16.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,341 shares of company stock valued at $20,644,335. Corporate insiders own 0.69% of the company's stock.

Amgen Price Performance

AMGN stock traded down $7.52 during midday trading on Tuesday, reaching $306.86. The company had a trading volume of 2,564,825 shares, compared to its average volume of 2,550,260. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The stock has a 50 day moving average price of $298.92 and a 200-day moving average price of $298.41. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. The company has a market capitalization of $164.85 billion, a price-to-earnings ratio of 40.64, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly 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%. Equities research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be paid a $2.38 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 annualized dividend and a dividend yield of 3.10%. Amgen's payout ratio is 126.09%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AMGN. Redburn Partners reduced their price target on Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Johnson Rice set a $294.00 target price on Amgen in a research report on Wednesday, March 5th. Wells Fargo & Company reissued an "equal weight" rating on shares of Amgen in a research report on Wednesday, February 5th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $324.00 price target on shares of Amgen in a research report on Friday, January 24th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $314.04.

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.