Vinva Investment Management Ltd Boosts Stock Position in Amgen Inc. (NASDAQ:AMGN)

Vinva Investment Management Ltd boosted its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 22.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,522 shares of the medical research company's stock after acquiring an additional 4,909 shares during the period. Vinva Investment Management Ltd's holdings in Amgen were worth $6,877,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Legacy Investment Solutions LLC acquired a new position in shares of Amgen in the 3rd quarter valued at $29,000. Centricity Wealth Management LLC purchased a new stake in Amgen in the 4th quarter valued at about $25,000. Synergy Investment Management LLC acquired a new position in Amgen in the fourth quarter valued at about $34,000. Atala Financial Inc purchased a new position in Amgen during the fourth quarter worth about $34,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Amgen during the fourth quarter valued at about $36,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AMGN has been the topic of several recent analyst reports. UBS Group restated a "hold" rating on shares of Amgen in a report on Wednesday, February 12th. Piper Sandler upped their price target on Amgen from $310.00 to $329.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. Redburn Partners dropped their price objective on Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft decreased their target price on Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Finally, Bank of America raised their target price on Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $314.04.

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Insider Activity at Amgen

In other news, EVP David M. Reese sold 8,711 shares of Amgen stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $293.22, for a total transaction of $2,554,239.42. Following the sale, the executive vice president now owns 62,147 shares in the company, valued at approximately $18,222,743.34. The trade was a 12.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of the company's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total value 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 sold a total of 69,341 shares of company stock valued at $20,644,335 over the last ninety days. Insiders own 0.69% of the company's stock.

Amgen Stock Up 0.3 %

NASDAQ AMGN traded up $1.00 during trading on Friday, reaching $316.04. 9,994,350 shares of the company's stock were exchanged, compared to its average volume of 2,553,454. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The stock has a market cap of $169.78 billion, a P/E ratio of 41.86, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53. 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 company has a 50 day moving average price of $297.24 and a two-hundred day moving average price of $298.80.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, topping 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%. On average, equities research analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be paid a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 annualized dividend and a yield of 3.01%. Amgen's dividend payout ratio is currently 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.