Petros Family Wealth LLC Makes New $854,000 Investment in Amgen Inc. (NASDAQ:AMGN)

Petros Family Wealth LLC bought a new position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,276 shares of the medical research company's stock, valued at approximately $854,000. Amgen accounts for approximately 0.9% of Petros Family Wealth LLC's portfolio, making the stock its 28th largest holding.

Several other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Amgen during the 4th quarter worth about $1,541,991,000. Charles Schwab Investment Management Inc. increased 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 acquiring an additional 2,672,975 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Amgen during the fourth quarter worth about $401,913,000. Franklin Resources Inc. lifted its holdings in Amgen by 52.7% in the fourth quarter. Franklin Resources Inc. now owns 3,291,975 shares of the medical research company's stock valued at $858,020,000 after acquiring an additional 1,135,884 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of Amgen by 263.8% during the 4th quarter. Van ECK Associates Corp now owns 1,038,593 shares of the medical research company's stock worth $270,699,000 after purchasing an additional 753,147 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,589 shares of the firm's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total transaction of $483,802.83. Following the transaction, the senior vice president now owns 7,210 shares in the company, valued at $2,195,228.70. This trade represents a 18.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jonathan P. Graham sold 25,045 shares of the business's stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $293.12, for a total transaction of $7,341,190.40. Following the completion of the transaction, the executive vice president now owns 28,987 shares of the company's stock, valued at $8,496,669.44. The trade was a 46.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 69,341 shares of company stock valued at $20,644,335. Company insiders own 0.69% of the company's stock.

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Amgen Trading Up 2.8 %

Shares of Amgen stock traded up $7.94 during trading on Monday, reaching $293.92. 2,492,697 shares of the company were exchanged, compared to its average volume of 2,778,570. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The firm has a market capitalization of $158.03 billion, a price-to-earnings ratio of 38.93, a P/E/G ratio of 2.63 and a beta of 0.59. The business has a 50-day moving average price of $304.05 and a 200-day moving average price of $294.91.

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

Amgen Dividend Announcement

The business 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 dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a yield of 3.24%. Amgen's dividend payout ratio (DPR) is 126.09%.

Analysts Set New Price Targets

Several equities analysts have weighed in on AMGN shares. Bank of America lifted their target price on Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a research report on Wednesday, March 5th. Citigroup reaffirmed a "neutral" rating on shares of Amgen in a research report on Wednesday, February 5th. StockNews.com upgraded shares of Amgen from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, April 9th. Morgan Stanley boosted their price objective on Amgen from $328.00 to $330.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 9th. Finally, Wells Fargo & Company reiterated an "equal weight" rating on shares of Amgen in a research note on Wednesday, February 5th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Amgen has a consensus rating of "Moderate Buy" and an average target price of $314.91.

About Amgen

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.