Belpointe Asset Management LLC Acquires 1,638 Shares of Amgen Inc. (NASDAQ:AMGN)

Belpointe Asset Management LLC raised its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 20.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,760 shares of the medical research company's stock after acquiring an additional 1,638 shares during the period. Belpointe Asset Management LLC's holdings in Amgen were worth $2,544,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMGN. Centricity Wealth Management LLC acquired a new position in shares of Amgen during the 4th quarter worth $25,000. Ritter Daniher Financial Advisory LLC DE increased its holdings in shares of Amgen by 66.2% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock worth $33,000 after buying an additional 51 shares in the last quarter. Synergy Investment Management LLC bought a new stake in Amgen during the 4th quarter worth $34,000. Atala Financial Inc acquired a new position in Amgen in the 4th quarter worth about $34,000. Finally, Heck Capital Advisors LLC acquired a new position in Amgen in the 4th quarter worth about $36,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Trading Down 1.9 %

Shares of Amgen stock traded down $5.35 during trading on Friday, reaching $277.29. The company's stock had a trading volume of 4,371,822 shares, compared to its average volume of 2,796,109. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The firm's 50-day moving average is $303.04 and its two-hundred day moving average is $294.22. The company has a market cap of $149.09 billion, a price-to-earnings ratio of 36.73, a PEG ratio of 2.63 and a beta of 0.59.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, topping the consensus estimate of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. On average, sell-side analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be given a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date is Friday, May 16th. Amgen's dividend payout ratio is presently 126.09%.

Insider Buying and Selling

In other Amgen 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 approximately $2,195,228.70. The trade was a 18.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David M. Reese sold 8,711 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were 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 in the company, valued at approximately $18,222,743.34. This trade represents a 12.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,341 shares of company stock worth $20,644,335 in the last three months. 0.69% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Morgan Stanley lifted their price target on shares of Amgen from $328.00 to $330.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 9th. Piper Sandler Companies reaffirmed an "overweight" rating and set a $310.00 target price on shares of Amgen in a report on Thursday, January 2nd. Piper Sandler increased their price target on Amgen from $310.00 to $329.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. Citigroup reaffirmed a "neutral" rating on shares of Amgen in a research note on Wednesday, February 5th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $324.00 target price on shares of Amgen in a report on Friday, January 24th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $314.91.

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.