Napatree Capital LLC Purchases 1,059 Shares of Amgen Inc. (NASDAQ:AMGN)

Napatree Capital LLC raised its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 66.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,655 shares of the medical research company's stock after purchasing an additional 1,059 shares during the period. Napatree Capital LLC's holdings in Amgen were worth $692,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of AMGN. Centricity Wealth Management LLC acquired a new stake in Amgen in the fourth quarter worth about $25,000. Legacy Investment Solutions LLC acquired a new stake in shares of Amgen in the 3rd quarter worth approximately $29,000. Synergy Investment Management LLC bought a new position in shares of Amgen in the fourth quarter valued at approximately $34,000. Atala Financial Inc acquired a new position in shares of Amgen during the fourth quarter valued at approximately $34,000. Finally, Heck Capital Advisors LLC bought a new stake in Amgen during the fourth quarter worth approximately $36,000. Institutional investors own 76.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AMGN. Truist Financial reduced their price objective on shares of Amgen from $333.00 to $298.00 and set a "hold" rating for the company in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. UBS Group reaffirmed a "hold" rating on shares of Amgen in a report on Wednesday, February 12th. Piper Sandler raised their price objective on Amgen from $310.00 to $329.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. Finally, Redburn Partners cut their target price on Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Amgen presently has a consensus rating of "Hold" and a consensus target price of $314.04.

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Amgen Stock Performance

Shares of Amgen stock traded up $0.41 during trading on Thursday, reaching $306.12. The company's stock had a trading volume of 263,732 shares, compared to its average volume of 2,536,430. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. 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 firm has a market cap of $164.45 billion, a price-to-earnings ratio of 40.56, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53. The business's fifty day moving average price is $299.66 and its 200-day moving average price is $298.46.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, topping the consensus estimate 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 earnings per share for the current year.

Amgen Dividend Announcement

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. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.11%. Amgen's dividend payout ratio is currently 126.09%.

Insider Transactions at Amgen

In other Amgen news, EVP David M. Reese sold 8,711 shares of Amgen stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $293.22, for a total transaction of $2,554,239.42. Following the sale, the executive vice president now directly owns 62,147 shares of the company's stock, valued at approximately $18,222,743.34. The trade was a 12.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of the firm's stock in a transaction that occurred 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 transaction, 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 have sold 69,341 shares of company stock valued at $20,644,335. 0.69% of the stock is owned by corporate insiders.

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.