Roxbury Financial LLC Purchases New Stake in Amgen Inc. (NASDAQ:AMGN)

Roxbury Financial LLC bought a new stake in Amgen Inc. (NASDAQ:AMGN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,021 shares of the medical research company's stock, valued at approximately $572,000.

Other large investors have also modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in shares of Amgen in the 3rd quarter valued at $25,000. Legacy Investment Solutions LLC purchased a new stake in Amgen during the 3rd quarter worth approximately $29,000. Heck Capital Advisors LLC acquired a new stake in Amgen during the 4th quarter worth approximately $36,000. PrairieView Partners LLC boosted its position in Amgen by 118.3% in the 4th quarter. PrairieView Partners LLC now owns 179 shares of the medical research company's stock valued at $46,000 after buying an additional 97 shares during the period. Finally, Wingate Wealth Advisors Inc. acquired a new position in shares of Amgen in the fourth quarter worth $52,000. Institutional investors and hedge funds own 76.50% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on AMGN. Citigroup decreased their target price on Amgen from $310.00 to $295.00 and set a "neutral" rating for the company in a report on Tuesday, January 28th. Wolfe Research assumed coverage on Amgen in a research report on Friday, November 15th. They set a "peer perform" rating for the company. Piper Sandler raised their target price on shares of Amgen from $310.00 to $329.00 and gave the company an "overweight" rating in a report on Monday, February 10th. Leerink Partners lowered their target price on shares of Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Two research 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. Based on data from MarketBeat.com, Amgen currently has an average rating of "Hold" and an average price target of $314.09.

Insider Activity

In related news, EVP Jonathan P. Graham sold 25,045 shares of the firm'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 sale, the executive vice president now owns 28,987 shares in the company, valued at approximately $8,496,669.44. This trade 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 this hyperlink. Also, SVP Nancy A. Grygiel sold 1,589 shares of Amgen stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 7,210 shares of the company's stock, valued at $2,195,228.70. The trade was a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,405 shares of company stock worth $10,410,596 over the last 90 days. 0.69% of the stock is currently owned by corporate insiders.

Amgen Price Performance

Shares of AMGN traded up $1.47 during mid-day trading on Wednesday, hitting $294.27. The company's stock had a trading volume of 2,806,841 shares, compared to its average volume of 3,145,679. The firm has a market capitalization of $158.18 billion, a P/E ratio of 38.98, a P/E/G ratio of 2.53 and a beta of 0.56. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The firm has a 50-day simple moving average of $275.15 and a 200 day simple moving average of $300.77. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, topping analysts' consensus estimates 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 20.6 EPS for the current fiscal year.

Amgen Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be issued a $2.38 dividend. This is a positive change from Amgen's previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 annualized dividend and a yield of 3.24%. Amgen's dividend payout ratio is 126.09%.

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.