Joseph Group Capital Management Buys 1,301 Shares of Amgen Inc. (NASDAQ:AMGN)

Joseph Group Capital Management increased its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 15.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,934 shares of the medical research company's stock after acquiring an additional 1,301 shares during the quarter. Joseph Group Capital Management's holdings in Amgen were worth $2,589,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in AMGN. Centricity Wealth Management LLC purchased a new position in shares of Amgen during the 4th quarter valued at $25,000. Legacy Investment Solutions LLC bought a new stake in Amgen during the third quarter valued at about $29,000. Synergy Investment Management LLC purchased a new position in shares of Amgen in the fourth quarter valued at about $34,000. Atala Financial Inc purchased a new stake in shares of Amgen during the fourth quarter worth about $34,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of Amgen during the fourth quarter worth about $36,000. Hedge funds and other institutional investors own 76.50% of the company's stock.

Amgen Trading Down 1.5 %

Amgen stock traded down $4.63 during mid-day trading on Tuesday, hitting $306.92. The company's stock had a trading volume of 3,041,274 shares, compared to its average volume of 2,704,935. 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 50 day moving average of $301.87 and a 200-day moving average of $297.81. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The stock has a market cap of $164.88 billion, a PE ratio of 40.65, a P/E/G ratio of 2.63 and a beta of 0.53.

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

Amgen Dividend Announcement

The business 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 dividend of $2.38 per share. This represents a $9.52 annualized dividend and a dividend yield of 3.10%. The ex-dividend date is Friday, May 16th. Amgen's dividend payout ratio is presently 126.09%.

Insider Activity at Amgen

In other news, EVP David M. Reese sold 8,711 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $293.22, for a total transaction of $2,554,239.42. Following the transaction, the executive vice president now owns 62,147 shares of the company's stock, valued at approximately $18,222,743.34. This represents a 12.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of the firm's stock in a transaction 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 owns 7,210 shares in the company, valued at approximately $2,195,228.70. This represents a 18.06 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 69,341 shares of company stock worth $20,644,335. Company insiders own 0.69% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on AMGN shares. Bank of America upped their price target on Amgen from $275.00 to $294.00 and gave the stock an "underperform" rating in a research note on Wednesday, March 5th. Johnson Rice set a $294.00 target price on shares of Amgen in a research report on Wednesday, March 5th. Citigroup reiterated a "neutral" rating on shares of Amgen in a research note on Wednesday, February 5th. UBS Group restated a "hold" rating on shares of Amgen in a research report on Wednesday, February 12th. Finally, Wells Fargo & Company reiterated an "equal weight" rating on shares of Amgen in a research report on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $314.04.

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.