Miller Financial Services LLC Takes Position in Amgen Inc. (NASDAQ:AMGN)

Miller Financial Services LLC purchased a new position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,154 shares of the medical research company's stock, valued at approximately $301,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Cornerstone Advisors LLC boosted its position in Amgen by 5.1% during the fourth quarter. Cornerstone Advisors LLC now owns 26,700 shares of the medical research company's stock worth $6,959,000 after acquiring an additional 1,300 shares during the last quarter. King Luther Capital Management Corp boosted its holdings in Amgen by 0.3% in the 4th quarter. King Luther Capital Management Corp now owns 519,604 shares of the medical research company's stock valued at $135,430,000 after purchasing an additional 1,637 shares during the last quarter. Pzena Investment Management LLC acquired a new position in Amgen in the 4th quarter valued at about $209,000. Dearborn Partners LLC boosted its holdings in Amgen by 4.5% in the 4th quarter. Dearborn Partners LLC now owns 3,738 shares of the medical research company's stock valued at $974,000 after purchasing an additional 160 shares during the last quarter. Finally, Riverbend Wealth Management LLC acquired a new position in Amgen in the 4th quarter valued at about $469,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMGN has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. Leerink Partners decreased their target price on shares of Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Royal Bank of Canada reiterated an "outperform" rating and issued a $324.00 target price on shares of Amgen in a report on Friday, January 24th. UBS Group reiterated a "hold" rating on shares of Amgen in a report on Wednesday, February 12th. Finally, Piper Sandler boosted their target price on shares of Amgen from $310.00 to $329.00 and gave the company an "overweight" rating in a report on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Amgen currently has an average rating of "Hold" and a consensus target price of $314.04.

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Amgen Stock Down 2.6 %

Shares of NASDAQ:AMGN traded down $8.47 during trading hours on Tuesday, reaching $318.89. The stock had a trading volume of 3,079,086 shares, compared to its average volume of 2,556,568. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The firm's 50 day moving average is $288.66 and its 200-day moving average is $299.43. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. The stock has a market capitalization of $171.31 billion, a price-to-earnings ratio of 42.24, a P/E/G ratio of 2.63 and a beta of 0.53.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, beating 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%. Research analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be given a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend is Friday, May 16th. Amgen's dividend payout ratio is presently 126.09%.

Insider Buying and Selling at Amgen

In other news, EVP David M. Reese sold 25,225 shares of the company's stock in a transaction on Friday, February 21st. The shares were 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 owns 36,922 shares in the company, valued at approximately $11,240,533.68. This represents a 40.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of the company's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total transaction of $483,802.83. Following the completion of the transaction, the senior vice president now owns 7,210 shares of the company's stock, valued at approximately $2,195,228.70. The trade was a 18.06 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,341 shares of company stock valued at $20,644,335. Insiders own 0.69% of the company's stock.

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.