Zuckerman Investment Group LLC Invests $521,000 in Amgen Inc. (NASDAQ:AMGN)

Zuckerman Investment Group LLC acquired a new stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,803 shares of the medical research company's stock, valued at approximately $521,000.

Several other institutional investors have also added to or reduced their stakes in AMGN. Centricity Wealth Management LLC acquired a new position in shares of Amgen during the 4th quarter worth $25,000. Ritter Daniher Financial Advisory LLC DE raised its stake in Amgen by 66.2% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock worth $33,000 after acquiring an additional 51 shares in the last quarter. Synergy Investment Management LLC bought a new position in shares of Amgen in the fourth quarter worth about $34,000. Atala Financial Inc acquired a new stake in shares of Amgen in the 4th quarter valued at approximately $34,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of Amgen during the 4th quarter valued at approximately $36,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on AMGN shares. Morgan Stanley raised their target price on shares of Amgen from $328.00 to $330.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 9th. Johnson Rice set a $294.00 price objective on Amgen in a research report on Wednesday, March 5th. Piper Sandler Companies reiterated an "overweight" rating and issued a $310.00 target price on shares of Amgen in a research report on Thursday, January 2nd. Bank of America boosted their price target on Amgen from $275.00 to $294.00 and gave the stock an "underperform" rating in a report on Wednesday, March 5th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $324.00 price objective on shares of Amgen in a report on Friday, January 24th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $315.22.

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Insider Buying and Selling

In other news, EVP Jonathan P. Graham sold 25,045 shares of the business's stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $293.12, for a total transaction of $7,341,190.40. Following the completion of the transaction, the executive vice president now owns 28,987 shares of the company's stock, valued at approximately $8,496,669.44. The trade was a 46.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Nancy A. Grygiel sold 1,589 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The shares were 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 in the company, valued at $2,195,228.70. This represents a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,341 shares of company stock valued at $20,644,335. Company insiders own 0.69% of the company's stock.

Amgen Stock Performance

NASDAQ AMGN traded up $7.94 on Monday, hitting $293.92. 2,492,625 shares of the stock traded hands, compared to its average volume of 2,778,568. 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 business's fifty day moving average is $304.33 and its two-hundred day moving average is $295.11. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The firm has a market capitalization of $158.03 billion, a price-to-earnings ratio of 38.93, a PEG ratio of 2.63 and a beta of 0.59.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings data 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%. As a group, equities analysts anticipate that Amgen Inc. will post 20.62 EPS 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 paid a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date is Friday, May 16th. Amgen's payout ratio is currently 126.09%.

Amgen Company Profile

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.