Generali Investments Management Co LLC Takes $1.67 Million Position in Amgen Inc. (NASDAQ:AMGN)

Generali Investments Management Co LLC acquired a new stake in Amgen Inc. (NASDAQ:AMGN - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 6,404 shares of the medical research company's stock, valued at approximately $1,669,000.

A number of other hedge funds have also modified their holdings of AMGN. State Street Corp boosted its holdings in shares of Amgen by 1.2% in the 3rd quarter. State Street Corp now owns 29,317,018 shares of the medical research company's stock worth $9,446,236,000 after acquiring an additional 345,537 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Amgen by 25.4% during 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. Geode Capital Management LLC lifted its holdings in Amgen by 0.9% in the third quarter. Geode Capital Management LLC now owns 12,122,889 shares of the medical research company's stock valued at $3,893,771,000 after buying an additional 103,851 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Amgen by 11.7% in the 3rd quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company's stock valued at $1,657,183,000 after purchasing an additional 538,545 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Amgen by 6.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,442,543 shares of the medical research company's stock valued at $1,431,432,000 after buying an additional 264,396 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling

In other news, SVP Nancy A. Grygiel sold 1,589 shares of the stock in a transaction 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 directly owns 7,210 shares in the company, valued at approximately $2,195,228.70. This represents a 18.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David M. Reese sold 25,225 shares of the company's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $304.44, for a total value of $7,679,499.00. Following the completion of the transaction, the executive vice president now directly owns 36,922 shares of the company's stock, valued at approximately $11,240,533.68. The trade was a 40.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,341 shares of company stock worth $20,644,335 in the last three months. 0.69% of the stock is owned by corporate insiders.

Amgen Price Performance

Shares of NASDAQ:AMGN traded up $1.00 during midday trading on Friday, hitting $316.04. The stock had a trading volume of 9,994,350 shares, compared to its average volume of 2,553,454. The company's 50-day moving average price is $297.24 and its 200-day moving average price is $298.80. The company has a market capitalization of $169.78 billion, a P/E ratio of 41.86, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53. 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 Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly 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 return on equity of 176.32% and a net margin of 12.24%. As a group, equities research analysts predict that Amgen Inc. will post 20.62 EPS 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 dividend of $2.38 per share. This represents a $9.52 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend is Friday, May 16th. Amgen's dividend payout ratio (DPR) is presently 126.09%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AMGN. Piper Sandler boosted their target price on Amgen from $310.00 to $329.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. Piper Sandler Companies reaffirmed an "overweight" rating and set a $310.00 price target on shares of Amgen in a research report on Thursday, January 2nd. Johnson Rice set a $294.00 price target on shares of Amgen in a research note on Wednesday, March 5th. Citigroup reaffirmed a "neutral" rating on shares of Amgen in a research report on Wednesday, February 5th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $324.00 price objective on shares of Amgen in a research report on Friday, January 24th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $314.04.

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.