Sagespring Wealth Partners LLC Buys Shares of 14,505 Amgen Inc. (NASDAQ:AMGN)

Sagespring Wealth Partners LLC purchased a new position in Amgen Inc. (NASDAQ:AMGN - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 14,505 shares of the medical research company's stock, valued at approximately $3,781,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new position in Amgen during the 4th quarter worth $1,541,991,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Amgen by 25.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company's stock valued at $3,441,909,000 after acquiring an additional 2,672,975 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Amgen in the 4th quarter valued at approximately $401,913,000. Franklin Resources Inc. boosted its stake in Amgen by 52.7% in the 4th quarter. Franklin Resources Inc. now owns 3,291,975 shares of the medical research company's stock worth $858,020,000 after purchasing an additional 1,135,884 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in 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 last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,589 shares of Amgen stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total transaction of $483,802.83. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David M. Reese sold 25,225 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the transaction, the executive vice president now directly owns 36,922 shares of the company's stock, valued at approximately $11,240,533.68. This trade represents a 40.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,341 shares of company stock worth $20,644,335. Insiders own 0.69% of the company's stock.

Amgen Price Performance

Shares of AMGN stock traded down $5.35 on Friday, reaching $277.29. 4,371,822 shares of the company were exchanged, compared to its average volume of 2,793,267. The company has a market cap 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 Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The business has a 50-day moving average price of $303.43 and a 200 day moving average price of $294.51. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26.

Amgen (NASDAQ:AMGN - Get Free Report) last released its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, beating 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%. Equities research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be given a dividend of $2.38 per share. The ex-dividend date is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a yield of 3.43%. Amgen's payout ratio is presently 126.09%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AMGN shares. Morgan Stanley raised their price target on shares of Amgen from $328.00 to $330.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 9th. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Amgen in a research report on Wednesday, February 5th. Citigroup reissued a "neutral" rating on shares of Amgen in a report on Wednesday, February 5th. Johnson Rice set a $294.00 price objective on Amgen in a research note on Wednesday, March 5th. Finally, Piper Sandler increased 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. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target 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.