Summit Global Investments purchased a new position in Amgen Inc. (NASDAQ:AMGN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 14,157 shares of the medical research company's stock, valued at approximately $3,690,000.
Other large investors also recently added to or reduced their stakes in the company. Blossom Wealth Management raised its holdings in shares of Amgen by 3.5% during the fourth quarter. Blossom Wealth Management now owns 1,090 shares of the medical research company's stock valued at $284,000 after acquiring an additional 37 shares during the last quarter. Zullo Investment Group Inc. increased its position in shares of Amgen by 2.8% during the fourth quarter. Zullo Investment Group Inc. now owns 1,364 shares of the medical research company's stock worth $356,000 after purchasing an additional 37 shares in the last quarter. Trillium Asset Management LLC raised its stake in Amgen by 4.2% in the 4th quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company's stock valued at $237,000 after purchasing an additional 37 shares during the last quarter. Brooklyn Investment Group lifted its holdings in Amgen by 1.1% in the 3rd quarter. Brooklyn Investment Group now owns 3,377 shares of the medical research company's stock valued at $1,088,000 after purchasing an additional 38 shares in the last quarter. Finally, Prestige Wealth Management Group LLC boosted its stake in Amgen by 2.8% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 1,387 shares of the medical research company's stock worth $447,000 after purchasing an additional 38 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several analysts recently issued reports on AMGN shares. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Amgen in a research note on Wednesday, February 5th. UBS Group reaffirmed a "hold" rating on shares of Amgen in a report on Wednesday, February 12th. Johnson Rice set a $294.00 price objective on Amgen in a research note on Wednesday, March 5th. Piper Sandler Companies reaffirmed an "overweight" rating and issued a $310.00 target price on shares of Amgen in a research note on Thursday, January 2nd. Finally, Redburn Partners dropped their price objective on shares of Amgen from $200.00 to $195.00 in a 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $314.04.
Read Our Latest Stock Analysis on AMGN
Insider Buying and Selling
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 value of $7,341,190.40. Following the sale, the executive vice president now owns 28,987 shares of the company's stock, valued at $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 is available through this hyperlink. Also, SVP Nancy A. Grygiel sold 1,589 shares of the business's 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 transaction, the senior vice president now owns 7,210 shares of the company's stock, valued at $2,195,228.70. This trade represents a 18.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 69,341 shares of company stock valued at $20,644,335 in the last three months. 0.69% of the stock is owned by corporate insiders.
Amgen Stock Down 0.4 %
Shares of AMGN traded down $1.15 during mid-day trading on Wednesday, hitting $305.71. 2,374,942 shares of the company's stock were exchanged, compared to its average volume of 2,548,828. The stock's 50-day moving average is $298.92 and its 200-day moving average is $298.41. 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 Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The company has a market cap of $164.23 billion, a price-to-earnings ratio of 40.49, a P/E/G ratio of 2.63 and a beta of 0.53.
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 (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%. On average, sell-side analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.
Amgen Announces Dividend
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. The ex-dividend date is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a yield of 3.11%. Amgen's dividend payout ratio (DPR) is presently 126.09%.
About Amgen
(
Free Report)
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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