Holderness Investments Co. Acquires 928 Shares of Amgen Inc. (NASDAQ:AMGN)

Holderness Investments Co. lifted its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 13.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,626 shares of the medical research company's stock after buying an additional 928 shares during the period. Holderness Investments Co.'s holdings in Amgen were worth $1,988,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of AMGN. Centricity Wealth Management LLC bought a new stake in Amgen in the fourth quarter worth about $25,000. Legacy Investment Solutions LLC bought a new stake in shares of Amgen in the 3rd quarter worth approximately $29,000. Synergy Investment Management LLC purchased a new position in Amgen in the fourth quarter valued at approximately $34,000. Atala Financial Inc bought a new position in Amgen during the fourth quarter valued at $34,000. Finally, Heck Capital Advisors LLC purchased a new stake in Amgen in the fourth quarter worth $36,000. 76.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on AMGN. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Amgen in a research report on Wednesday, February 5th. Johnson Rice set a $294.00 target price on shares of Amgen in a research report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. StockNews.com downgraded shares of Amgen from a "strong-buy" rating to a "buy" rating in a report on Wednesday, December 18th. Finally, Leerink Partners lowered their target price on shares of Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $314.04.

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Insider Buying and Selling

In other news, SVP Nancy A. Grygiel sold 1,589 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total transaction of $483,802.83. Following the completion of the sale, the senior vice president now owns 7,210 shares of the company's stock, valued at approximately $2,195,228.70. This represents a 18.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jonathan P. Graham sold 25,045 shares of Amgen stock in a transaction on Friday, February 7th. The stock was sold at an average price of $293.12, for a total transaction of $7,341,190.40. Following the completion of the transaction, the executive vice president now directly owns 28,987 shares in the company, valued at approximately $8,496,669.44. The trade was a 46.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,341 shares of company stock worth $20,644,335 in the last 90 days. 0.69% of the stock is owned by company insiders.

Amgen Price Performance

NASDAQ AMGN traded down $7.52 during trading hours on Tuesday, reaching $306.86. 2,564,825 shares of the stock traded hands, compared to its average volume of 2,551,876. 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 stock has a 50 day simple moving average of $298.13 and a two-hundred day simple moving average of $298.50. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The company has a market cap 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 announced its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, beating 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 predict that Amgen Inc. will post 20.62 EPS 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. This represents a $9.52 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend is Friday, May 16th. Amgen's dividend payout ratio is currently 126.09%.

Amgen Company 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.