Potomac Fund Management Inc. ADV Acquires Shares of 1,854 Amgen Inc. (NASDAQ:AMGN)

Potomac Fund Management Inc. ADV acquired a new stake in Amgen Inc. (NASDAQ:AMGN - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,854 shares of the medical research company's stock, valued at approximately $483,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Legacy Investment Solutions LLC purchased a new stake in Amgen in the 3rd quarter valued at approximately $29,000. Centricity Wealth Management LLC purchased a new stake in shares of Amgen in the fourth quarter valued at $25,000. Synergy Investment Management LLC acquired a new stake in shares of Amgen during the fourth quarter valued at $34,000. Atala Financial Inc purchased a new stake in Amgen during the 4th quarter worth about $34,000. Finally, Heck Capital Advisors LLC acquired a new position in Amgen in the 4th quarter valued at about $36,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AMGN. Piper Sandler lifted their price target on shares of Amgen from $310.00 to $329.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Truist Financial lowered 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. Citigroup reiterated a "neutral" rating on shares of Amgen in a report on Wednesday, February 5th. UBS Group restated a "hold" rating on shares of Amgen in a report on Wednesday, February 12th. Finally, Piper Sandler Companies reiterated an "overweight" rating and issued a $310.00 target price on shares of Amgen in a research note on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Amgen has a consensus rating of "Moderate Buy" and a consensus price target of $314.04.

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Amgen Stock Down 5.0 %

Amgen stock traded down $15.46 during trading on Friday, reaching $294.39. 5,252,789 shares of the company's stock were exchanged, compared to its average volume of 2,726,356. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The firm has a market cap of $158.15 billion, a price-to-earnings ratio of 38.99, a PEG ratio of 2.63 and a beta of 0.53. 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 company's 50-day moving average is $304.18 and its two-hundred day moving average is $297.24.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its earnings results 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%. On average, analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders 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 dividend yield of 3.23%. Amgen's payout ratio is currently 126.09%.

Insider Activity

In other 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 transaction of $7,341,190.40. Following the sale, the executive vice president now directly owns 28,987 shares of the company's stock, valued at approximately $8,496,669.44. The trade was a 46.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Nancy A. Grygiel sold 1,589 shares of the 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 transaction, the senior vice president now directly owns 7,210 shares of the company's stock, valued at $2,195,228.70. This represents a 18.06 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 69,341 shares of company stock worth $20,644,335. 0.69% of the stock is currently owned by company 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.