ICICI Prudential Asset Management Co Ltd Has $6.26 Million Stake in Amgen Inc. (NASDAQ:AMGN)

ICICI Prudential Asset Management Co Ltd lifted its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 242.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,999 shares of the medical research company's stock after acquiring an additional 16,985 shares during the period. ICICI Prudential Asset Management Co Ltd's holdings in Amgen were worth $6,255,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of AMGN. Capital Performance Advisors LLP purchased a new position in shares of Amgen during the third quarter worth approximately $25,000. Legacy Investment Solutions LLC acquired a new stake in shares of Amgen during the third quarter worth $29,000. Heck Capital Advisors LLC acquired a new stake in shares of Amgen during the fourth quarter worth $36,000. PrairieView Partners LLC lifted its holdings in shares of Amgen by 118.3% during the fourth quarter. PrairieView Partners LLC now owns 179 shares of the medical research company's stock worth $46,000 after purchasing an additional 97 shares during the period. Finally, Bank of Jackson Hole Trust acquired a new stake in shares of Amgen during the fourth quarter worth $50,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. UBS Group decreased their price target on Amgen from $335.00 to $326.00 and set a "neutral" rating for the company in a report on Thursday, October 31st. Redburn Partners decreased their price target on Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Citigroup decreased their price target on Amgen from $310.00 to $295.00 and set a "neutral" rating for the company in a report on Tuesday, January 28th. Piper Sandler increased their price target on Amgen from $310.00 to $329.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Finally, Leerink Partners decreased their price target on Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Amgen has an average rating of "Hold" and a consensus target price of $314.09.

Amgen Price Performance

Shares of AMGN stock traded up $5.08 during mid-day trading on Friday, reaching $303.01. The stock had a trading volume of 3,203,645 shares, compared to its average volume of 3,083,469. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The company has a market cap of $162.78 billion, a P/E ratio of 40.13, a price-to-earnings-growth ratio of 2.55 and a beta of 0.56. The business has a 50-day simple moving average of $275.62 and a 200 day simple moving average of $300.75. 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 announced its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share 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, sell-side analysts anticipate that Amgen Inc. will post 20.6 earnings per share for the current 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 given a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Amgen's previous quarterly dividend of $2.25. Amgen's dividend payout ratio (DPR) is currently 126.09%.

Insider Buying and Selling

In other Amgen news, EVP Jonathan P. Graham sold 25,045 shares of Amgen stock in a transaction dated 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 sale, the executive vice president now owns 28,987 shares in the company, valued at $8,496,669.44. The trade was a 46.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of Amgen stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total value of $483,802.83. Following the completion of the sale, the senior vice president now owns 7,210 shares of the company's stock, valued at $2,195,228.70. This trade represents a 18.06 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,405 shares of company stock worth $10,410,596. 0.69% of the stock is owned by corporate insiders.

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.