Sumitomo Mitsui Financial Group Inc. Has $14.56 Million Position in Amgen Inc. (NASDAQ:AMGN)

Sumitomo Mitsui Financial Group Inc. lifted its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 7.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 55,868 shares of the medical research company's stock after acquiring an additional 3,634 shares during the quarter. Sumitomo Mitsui Financial Group Inc.'s holdings in Amgen were worth $14,561,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Blossom Wealth Management grew its stake in shares of 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 acquiring an additional 37 shares during the last quarter. Zullo Investment Group Inc. grew its position 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 last quarter. Trillium Asset Management LLC grew 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 worth $237,000 after buying an additional 37 shares in the last quarter. Prestige Wealth Management Group LLC raised its holdings in Amgen by 2.8% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 1,387 shares of the medical research company's stock valued at $447,000 after acquiring an additional 38 shares in the last quarter. Finally, Evermay Wealth Management LLC lifted its position in shares of Amgen by 1.5% in the 4th quarter. Evermay Wealth Management LLC now owns 2,650 shares of the medical research company's stock worth $691,000 after acquiring an additional 38 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMGN has been the topic of a number of research reports. Truist Financial lowered their price objective on Amgen from $333.00 to $298.00 and set a "hold" rating on the stock in a research report on Wednesday, January 8th. Piper Sandler raised their price objective on shares of Amgen from $310.00 to $329.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. StockNews.com raised shares of Amgen from a "buy" rating to a "strong-buy" rating in a research note on Wednesday. Wells Fargo & Company restated an "equal weight" rating on shares of Amgen in a research note on Wednesday, February 5th. Finally, Morgan Stanley upped their price objective on Amgen from $328.00 to $330.00 and gave the company an "equal weight" rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $315.22.

Insider Activity at Amgen

In other Amgen news, EVP David M. Reese sold 25,225 shares of Amgen stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the transaction, the executive vice president now directly owns 36,922 shares in the company, valued at approximately $11,240,533.68. The trade was a 40.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of the 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 sale, the senior vice president now owns 7,210 shares of the company's stock, valued at $2,195,228.70. This trade represents a 18.06 % decrease in their ownership of the stock. 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. 0.69% of the stock is owned by insiders.

Amgen Trading Up 1.6 %

AMGN stock traded up $4.57 during midday trading on Friday, reaching $285.98. The stock had a trading volume of 3,466,932 shares, compared to its average volume of 2,777,164. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The firm has a market cap of $153.76 billion, a price-to-earnings ratio of 37.88, a PEG ratio of 2.63 and a beta of 0.59. The business has a fifty day simple moving average of $304.33 and a two-hundred day simple moving average of $295.27.

Amgen (NASDAQ:AMGN - Get Free Report) last posted 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%. As a group, research analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be paid a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.33%. Amgen's dividend payout ratio (DPR) is presently 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.