BXM Wealth LLC Purchases New Shares in Amgen Inc. (NASDAQ:AMGN)

BXM Wealth LLC acquired a new stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,206 shares of the medical research company's stock, valued at approximately $314,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in Amgen during the third quarter valued at $25,000. Legacy Investment Solutions LLC purchased a new position in Amgen during the third quarter valued at $29,000. Heck Capital Advisors LLC purchased a new position in Amgen during the fourth quarter valued at $36,000. Livelsberger Financial Advisory purchased a new position in Amgen during the third quarter valued at $56,000. Finally, Kennebec Savings Bank purchased a new position in Amgen during the third quarter valued at $57,000. Hedge funds and other institutional investors own 76.50% of the company's stock.

Analysts Set New Price Targets

AMGN has been the subject of several recent analyst reports. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $324.00 price target on shares of Amgen in a research report on Friday, January 24th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $380.00 price target on shares of Amgen in a research report on Tuesday, November 12th. Piper Sandler lifted their price target on Amgen from $310.00 to $329.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. Truist Financial lowered their price target on Amgen from $333.00 to $298.00 and set a "hold" rating for the company in a research report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Amgen has an average rating of "Hold" and an average target price of $314.09.

Insider Activity at Amgen

In other Amgen news, EVP Jonathan P. Graham sold 25,045 shares of the company's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $293.12, for a total value 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 $8,496,669.44. This represents a 46.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Nancy A. Grygiel sold 1,589 shares of the company's stock in a transaction that occurred on 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 $2,195,228.70. The trade was a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,405 shares of company stock worth $10,410,596. 0.69% of the stock is owned by company insiders.

Amgen Stock Performance

Shares of Amgen stock traded up $1.47 during trading hours on Wednesday, reaching $294.27. 2,806,841 shares of the stock traded hands, compared to its average volume of 3,145,679. The company has a 50 day moving average price of $274.73 and a 200 day moving average price of $300.81. The firm has a market capitalization of $158.18 billion, a price-to-earnings ratio of 38.98, a P/E/G ratio of 2.53 and a beta of 0.56. Amgen Inc. has a one year low of $253.30 and a one year 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.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) 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, equities research analysts expect that Amgen Inc. will post 20.6 earnings per share for the current fiscal year.

Amgen Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be paid a dividend of $2.38 per share. The ex-dividend date is Friday, February 14th. This is an increase from Amgen's previous quarterly dividend of $2.25. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.24%. Amgen's payout ratio is 126.09%.

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.