Pzena Investment Management LLC Invests $209,000 in Amgen Inc. (NASDAQ:AMGN)

Pzena Investment Management LLC bought a new stake in Amgen Inc. (NASDAQ:AMGN - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 803 shares of the medical research company's stock, valued at approximately $209,000.

Several other large investors have also recently added to or reduced their stakes in AMGN. Swedbank AB grew its holdings in Amgen by 1.1% in the third quarter. Swedbank AB now owns 538,899 shares of the medical research company's stock valued at $173,639,000 after purchasing an additional 5,751 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of Amgen in the 3rd quarter valued at $25,000. Tyler Stone Wealth Management grew its stake in shares of Amgen by 160.6% during the 3rd quarter. Tyler Stone Wealth Management now owns 959 shares of the medical research company's stock valued at $309,000 after buying an additional 591 shares during the period. Ashton Thomas Securities LLC acquired a new stake in shares of Amgen during the 3rd quarter worth $245,000. Finally, Kennebec Savings Bank purchased a new position in shares of Amgen in the 3rd quarter worth $57,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Amgen

In related news, EVP David M. Reese sold 8,711 shares of Amgen stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $293.22, for a total value of $2,554,239.42. Following the sale, the executive vice president now directly owns 62,147 shares in the company, valued at $18,222,743.34. This trade represents a 12.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jonathan P. Graham sold 25,045 shares of Amgen stock in a transaction dated 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 sale, the executive vice president now owns 28,987 shares in the company, valued at approximately $8,496,669.44. This represents a 46.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,341 shares of company stock worth $20,644,335. 0.69% of the stock is currently owned by company insiders.

Amgen Stock Performance

Amgen stock opened at $318.89 on Wednesday. The company has a market cap of $171.31 billion, a PE ratio of 42.24, a P/E/G ratio of 2.63 and a beta of 0.53. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The company has a fifty day moving average price of $288.66 and a two-hundred day moving average price of $299.43. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95.

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Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, beating the consensus estimate of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. Research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be issued a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend is Friday, May 16th. Amgen's dividend payout ratio (DPR) is presently 126.09%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. StockNews.com downgraded shares of Amgen from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, December 18th. Citigroup reaffirmed a "neutral" rating on shares of Amgen in a research report on Wednesday, February 5th. Wells Fargo & Company reissued an "equal weight" rating on shares of Amgen in a research report on Wednesday, February 5th. Johnson Rice set a $294.00 price objective on Amgen in a research note on Wednesday, March 5th. Finally, William Blair reiterated an "outperform" rating on shares of Amgen in a research note on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Amgen currently has a consensus rating of "Hold" and a consensus target price 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.

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