North Forty Two & Co. Invests $631,000 in Amgen Inc. (NASDAQ:AMGN)

North Forty Two & Co. purchased a new stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 2,420 shares of the medical research company's stock, valued at approximately $631,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp grew its position in 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 purchasing an additional 345,537 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Amgen by 25.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company's stock worth $3,441,909,000 after buying an additional 2,672,975 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of 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 acquiring an additional 103,851 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Amgen by 11.7% during the third 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 acquiring an additional 538,545 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Amgen by 6.3% during 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 worth $1,431,432,000 after acquiring an additional 264,396 shares during the period. 76.50% of the stock is owned by institutional investors.

Remove Ads

Amgen Trading Up 0.3 %

AMGN stock traded up $1.00 during trading on Friday, hitting $316.04. 9,994,350 shares of the company traded hands, compared to its average volume of 2,553,454. The company has a 50-day moving average of $297.24 and a 200-day moving average of $298.80. 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 1 year low of $253.30 and a 1 year high of $346.85. The firm has a market capitalization of $169.78 billion, a PE ratio of 41.86, a P/E/G ratio of 2.63 and a beta of 0.53.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings data 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%. 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. Stockholders of record on Friday, May 16th will be paid 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 is Friday, May 16th. Amgen's dividend payout ratio (DPR) is 126.09%.

Insider Transactions at Amgen

In related news, EVP Jonathan P. Graham sold 25,045 shares of Amgen stock in a transaction on Friday, February 7th. The shares were sold at an average price of $293.12, for a total value of $7,341,190.40. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP David M. Reese sold 25,225 shares of the company's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the completion of the transaction, the executive vice president now owns 36,922 shares of the company's stock, valued at $11,240,533.68. This trade represents a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 69,341 shares of company stock worth $20,644,335. Company insiders own 0.69% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Wells Fargo & Company reissued an "equal weight" rating on shares of Amgen in a report on Wednesday, February 5th. 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. Bank of America upped their price target on shares of Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a research note on Wednesday, March 5th. StockNews.com downgraded shares of Amgen from a "strong-buy" rating to a "buy" rating in a report on Wednesday, December 18th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Two equities 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $314.04.

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.