Rossby Financial LCC Makes New Investment in Amgen Inc. (NASDAQ:AMGN)

Rossby Financial LCC bought a new stake in Amgen Inc. (NASDAQ:AMGN - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 901 shares of the medical research company's stock, valued at approximately $235,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank bought a new stake in shares of Amgen during the fourth quarter worth approximately $1,541,991,000. Charles Schwab Investment Management Inc. increased its position in Amgen by 25.4% during 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 period. Raymond James Financial Inc. acquired a new stake in shares of Amgen during the fourth quarter worth $401,913,000. Franklin Resources Inc. boosted its position in shares of 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 period. Finally, Van ECK Associates Corp boosted its position in shares of Amgen by 263.8% in the fourth quarter. Van ECK Associates Corp now owns 1,038,593 shares of the medical research company's stock valued at $270,699,000 after acquiring an additional 753,147 shares during the period. Institutional investors own 76.50% of the company's stock.

Insider Activity at Amgen

In related news, EVP Jonathan P. Graham sold 25,045 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 28,987 shares of the company's stock, valued at $8,496,669.44. This represents 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 the SEC website. Also, SVP Nancy A. Grygiel sold 1,589 shares of Amgen stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total transaction of $483,802.83. Following the completion of the sale, the senior vice president now directly owns 7,210 shares of the company's stock, valued at approximately $2,195,228.70. This trade represents a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,341 shares of company stock worth $20,644,335 over the last ninety days. Insiders own 0.69% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on AMGN shares. Johnson Rice set a $294.00 price objective on shares of Amgen in a report on Wednesday, March 5th. Truist Financial cut their price target on Amgen from $333.00 to $298.00 and set a "hold" rating for the company in a research note on Wednesday, January 8th. Wells Fargo & Company restated an "equal weight" rating on shares of Amgen in a research note on Wednesday, February 5th. Citigroup reiterated a "neutral" rating on shares of Amgen in a research report on Wednesday, February 5th. Finally, Piper Sandler raised their price target on Amgen from $310.00 to $329.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $314.91.

Amgen Trading Down 1.9 %

Shares of NASDAQ:AMGN traded down $5.35 during midday trading on Friday, hitting $277.29. 4,371,822 shares of the stock were exchanged, compared to its average volume of 2,793,267. The business's 50-day moving average price is $303.43 and its 200 day moving average price is $294.51. Amgen Inc. has a 12 month low of $253.30 and a 12 month 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 stock has a market capitalization of $149.09 billion, a price-to-earnings ratio of 36.73, a P/E/G ratio of 2.63 and a beta of 0.59.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its 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 net margin of 12.24% and a return on equity of 176.32%. Analysts predict 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. Investors of record on Friday, May 16th will be issued a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.43%. The ex-dividend date is Friday, May 16th. Amgen's payout ratio is presently 126.09%.

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.