Crowley Wealth Management Inc. Makes New Investment in Amgen Inc. (NASDAQ:AMGN)

Crowley Wealth Management Inc. acquired a new stake in Amgen Inc. (NASDAQ:AMGN - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 10,017 shares of the medical research company's stock, valued at approximately $2,611,000. Amgen accounts for 2.3% of Crowley Wealth Management Inc.'s portfolio, making the stock its 13th largest holding.

Other institutional investors have also added to or reduced their stakes in the company. Blossom Wealth Management raised its holdings 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 valued at $284,000 after acquiring an additional 37 shares in the last quarter. Zullo Investment Group Inc. raised its stake in Amgen by 2.8% in the fourth quarter. Zullo Investment Group Inc. now owns 1,364 shares of the medical research company's stock worth $356,000 after buying an additional 37 shares in the last quarter. Trillium Asset Management LLC grew its stake in Amgen by 4.2% in the fourth quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company's stock valued at $237,000 after purchasing an additional 37 shares during the last quarter. Brooklyn Investment Group boosted its position in shares of Amgen by 1.1% in the 3rd quarter. Brooklyn Investment Group now owns 3,377 shares of the medical research company's stock worth $1,088,000 after purchasing an additional 38 shares in the last quarter. Finally, Prestige Wealth Management Group LLC grew its stake in Amgen by 2.8% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 1,387 shares of the medical research company's stock worth $447,000 after buying an additional 38 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In related news, EVP David M. Reese sold 8,711 shares of the business's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $293.22, for a total value of $2,554,239.42. Following the completion of the sale, the executive vice president now directly owns 62,147 shares of the company's stock, valued at $18,222,743.34. The trade was a 12.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jonathan P. Graham sold 25,045 shares of the business's stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 28,987 shares of the company's stock, valued at approximately $8,496,669.44. This represents a 46.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,341 shares of company stock worth $20,644,335 in the last quarter. 0.69% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Bank of America raised their price target on Amgen from $275.00 to $294.00 and gave the stock an "underperform" rating in a report on Wednesday, March 5th. Piper Sandler upped their price target on shares of Amgen from $310.00 to $329.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. Redburn Partners lowered their price objective on shares of Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Leerink Partners cut their target price on Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Finally, Johnson Rice set a $294.00 price target on Amgen in a research report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Amgen currently has an average rating of "Hold" and a consensus target price of $314.04.

Amgen Price Performance

AMGN traded up $0.38 on Thursday, hitting $306.09. 263,732 shares of the company's stock were exchanged, compared to its average volume of 2,536,430. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The stock has a market cap of $164.43 billion, a price-to-earnings ratio of 40.56, a P/E/G ratio of 2.63 and a beta of 0.53. The firm has a 50-day moving average price of $299.66 and a 200-day moving average price of $298.46. 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 released its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, beating 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 analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be given a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date is Friday, May 16th. Amgen's dividend payout ratio is currently 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.