Cushing Capital Partners LLC Purchases Shares of 2,435 Amgen Inc. (NASDAQ:AMGN)

Cushing Capital Partners LLC purchased a new stake in Amgen Inc. (NASDAQ:AMGN - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,435 shares of the medical research company's stock, valued at approximately $635,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Talbot Financial LLC lifted its stake in shares of Amgen by 5.6% in the 4th quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company's stock worth $11,153,000 after acquiring an additional 2,274 shares during the period. Swiss National Bank lifted its stake in shares of Amgen by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company's stock worth $513,033,000 after acquiring an additional 5,500 shares during the period. Asset Advisors Investment Management LLC lifted its stake in shares of Amgen by 9.0% in the 3rd quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company's stock worth $11,578,000 after acquiring an additional 2,954 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Amgen by 6.0% in the 3rd quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company's stock worth $204,659,000 after acquiring an additional 35,785 shares during the period. Finally, Ascent Wealth Partners LLC lifted its stake in shares of Amgen by 0.7% in the 4th quarter. Ascent Wealth Partners LLC now owns 9,024 shares of the medical research company's stock worth $2,352,000 after acquiring an additional 64 shares during the period. Hedge funds and other institutional investors own 76.50% of the company's stock.

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Analysts Set New Price Targets

AMGN has been the subject of several recent analyst reports. Truist Financial reduced their target price on shares of Amgen from $333.00 to $298.00 and set a "hold" rating for the company in a research note on Wednesday, January 8th. StockNews.com cut shares of Amgen from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, December 18th. Bank of America raised their target price on shares of Amgen from $275.00 to $294.00 and gave the stock an "underperform" rating in a research note on Wednesday, March 5th. Johnson Rice set a $294.00 price objective on shares of Amgen in a research note on Wednesday, March 5th. Finally, Leerink Partners reduced their price objective on shares of Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $314.04.

Insider Activity at Amgen

In other news, EVP Jonathan P. Graham sold 25,045 shares of the company's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $293.12, for a total transaction of $7,341,190.40. Following the completion of the transaction, the executive vice president now owns 28,987 shares in the company, valued at approximately $8,496,669.44. This represents a 46.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Nancy A. Grygiel sold 1,589 shares of the company's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total transaction of $483,802.83. Following the transaction, the senior vice president now owns 7,210 shares of the company's stock, valued at $2,195,228.70. This represents a 18.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,341 shares of company stock valued at $20,644,335 over the last ninety days. Corporate insiders own 0.69% of the company's stock.

Amgen Trading Down 2.6 %

Amgen stock traded down $8.47 during trading on Tuesday, reaching $318.89. The company had a trading volume of 3,079,086 shares, compared to its average volume of 2,556,568. The firm has a market capitalization of $171.31 billion, a price-to-earnings ratio of 42.24, a PEG ratio of 2.63 and a beta of 0.53. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The stock's 50 day moving average price is $288.66 and its two-hundred day moving average price is $299.43.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, topping analysts' consensus estimates 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 expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be issued a $2.38 dividend. The ex-dividend date is Friday, May 16th. This represents a $9.52 annualized dividend and a yield of 2.99%. Amgen's dividend payout ratio is presently 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.