Congress Wealth Management LLC DE raised its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 7.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 72,966 shares of the medical research company's stock after purchasing an additional 5,119 shares during the quarter. Congress Wealth Management LLC DE's holdings in Amgen were worth $19,018,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the company. Crowley Wealth Management Inc. bought a new position in Amgen during the 4th quarter worth approximately $2,611,000. FCA Corp TX raised its stake in Amgen by 0.8% during the fourth quarter. FCA Corp TX now owns 18,340 shares of the medical research company's stock worth $4,780,000 after buying an additional 149 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Amgen by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 52,721,795 shares of the medical research company's stock valued at $13,741,409,000 after buying an additional 339,522 shares during the period. Community Bank N.A. grew its holdings in Amgen by 2.0% during the 4th quarter. Community Bank N.A. now owns 15,804 shares of the medical research company's stock worth $4,119,000 after acquiring an additional 305 shares during the period. Finally, Napatree Capital LLC raised its position in shares of Amgen by 66.4% in the 4th quarter. Napatree Capital LLC now owns 2,655 shares of the medical research company's stock worth $692,000 after acquiring an additional 1,059 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Amgen
In other news, EVP Jonathan P. Graham sold 25,045 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $293.12, for a total value of $7,341,190.40. Following the transaction, the executive vice president now owns 28,987 shares of the company's stock, valued at $8,496,669.44. This represents a 46.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of Amgen 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 sale, the senior vice president now directly owns 7,210 shares of the company's stock, valued at $2,195,228.70. This represents a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,341 shares of company stock valued at $20,644,335 in the last three months. Company insiders own 0.69% of the company's stock.
Amgen Stock Performance
Shares of NASDAQ:AMGN traded up $0.87 during mid-day trading on Thursday, reaching $306.58. The company had a trading volume of 615,279 shares, compared to its average volume of 2,537,827. The company's 50-day moving average price is $299.66 and its 200-day moving average price is $298.46. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The firm has a market cap of $164.70 billion, a price-to-earnings ratio of 40.62, a PEG ratio of 2.63 and a beta of 0.53. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62.
Amgen (NASDAQ:AMGN - Get Free Report) last posted its earnings results 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%. As a group, equities research analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.
Amgen Announces Dividend
The company also recently declared 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 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend is Friday, May 16th. Amgen's payout ratio is 126.09%.
Wall Street Analysts Forecast Growth
AMGN has been the topic of several recent analyst reports. Royal Bank of Canada reissued an "outperform" rating and issued a $324.00 price target on shares of Amgen in a research note on Friday, January 24th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. Redburn Partners cut their price objective on shares of Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Citigroup reaffirmed a "neutral" rating on shares of Amgen in a research report on Wednesday, February 5th. Finally, Piper Sandler Companies reiterated an "overweight" rating and issued a $310.00 price target on shares of Amgen in a report on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $314.04.
View Our Latest Stock Analysis on AMGN
About Amgen
(
Free Report)
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.
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