Strategic Financial Concepts LLC Buys Shares of 35,732 Amgen Inc. (NASDAQ:AMGN)

Strategic Financial Concepts LLC purchased a new position in Amgen Inc. (NASDAQ:AMGN - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 35,732 shares of the medical research company's stock, valued at approximately $9,313,000.

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

Amgen Price Performance

AMGN stock traded up $1.47 on Wednesday, reaching $294.27. 2,806,841 shares of the company's stock were exchanged, compared to its average volume of 3,145,679. The stock has a fifty day moving average of $274.73 and a 200-day moving average of $300.81. The firm has a market cap of $158.18 billion, a PE ratio of 38.98, a P/E/G ratio of 2.53 and a beta of 0.56. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share 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%. As a group, equities analysts predict that Amgen Inc. will post 20.6 EPS for the current fiscal year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be given a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.24%. This is an increase from Amgen's previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. Amgen's dividend payout ratio (DPR) is presently 126.09%.

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,589 shares of the company's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total value of $483,802.83. Following the sale, the senior vice president now owns 7,210 shares of the company's stock, valued at approximately $2,195,228.70. This represents a 18.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jonathan P. Graham sold 25,045 shares of Amgen stock in a transaction on Friday, February 7th. The stock was sold at an average price of $293.12, for a total value 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 trade represents a 46.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,405 shares of company stock valued at $10,410,596 in the last quarter. 0.69% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AMGN. William Blair reiterated an "outperform" rating on shares of Amgen in a research report on Tuesday, November 12th. Leerink Partners cut their price target on Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Redburn Partners reduced their price objective on Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Piper Sandler Companies restated an "overweight" rating and set a $310.00 target price on shares of Amgen in a research report on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Amgen currently has an average rating of "Hold" and a consensus price target of $314.09.

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.