BI Asset Management Fondsmaeglerselskab A S Buys New Holdings in Amgen Inc. (NASDAQ:AMGN)

BI Asset Management Fondsmaeglerselskab A S bought a new stake in Amgen Inc. (NASDAQ:AMGN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 29,754 shares of the medical research company's stock, valued at approximately $7,755,000.

Several other institutional investors also recently modified their holdings of AMGN. Capital World Investors raised its position in shares of Amgen by 1,292.0% in the 4th quarter. Capital World Investors now owns 6,495,710 shares of the medical research company's stock valued at $1,693,042,000 after acquiring an additional 6,029,058 shares during the period. Norges Bank acquired a new stake in shares of Amgen during the fourth quarter worth about $1,541,991,000. Capital International Investors lifted its holdings in shares of Amgen by 40.1% during the 4th quarter. Capital International Investors now owns 12,212,065 shares of the medical research company's stock valued at $3,182,843,000 after purchasing an additional 3,495,503 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Amgen by 25.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company's stock valued at $3,441,909,000 after purchasing an additional 2,672,975 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Amgen during the fourth quarter worth $401,913,000. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Price Performance

NASDAQ:AMGN traded up $1.94 during trading hours on Thursday, reaching $279.84. 2,259,859 shares of the company were exchanged, compared to its average volume of 2,788,099. The company has a market capitalization of $150.46 billion, a P/E ratio of 37.06, a P/E/G ratio of 2.63 and a beta of 0.59. 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 business has a 50 day moving average of $301.98 and a 200 day moving average of $293.34. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share 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%. Research analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be issued a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend is Friday, May 16th. Amgen's dividend payout ratio is presently 126.09%.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 1,589 shares of the firm's stock in a transaction 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 transaction, the senior vice president now directly owns 7,210 shares of the company's stock, valued at $2,195,228.70. This trade represents a 18.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David M. Reese sold 25,225 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the sale, the executive vice president now directly owns 36,922 shares of the company's stock, valued at $11,240,533.68. This represents a 40.59 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,341 shares of company stock worth $20,644,335. Corporate insiders own 0.69% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AMGN. Citigroup reissued a "neutral" rating on shares of Amgen in a research report on Wednesday, February 5th. Johnson Rice set a $294.00 price target on shares of Amgen in a research report on Wednesday, March 5th. Piper Sandler raised their price objective on Amgen from $310.00 to $329.00 and gave the company an "overweight" rating in a report on Monday, February 10th. UBS Group upped their target price on Amgen from $315.00 to $319.00 and gave the stock a "neutral" rating in a report on Monday, April 14th. Finally, Truist Financial lowered their price target on Amgen from $333.00 to $298.00 and set a "hold" rating on the stock in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Amgen presently has an average rating of "Hold" and an average target price of $310.57.

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.