Pine Valley Investments Ltd Liability Co Has $1.28 Million Holdings in Amgen Inc. (NASDAQ:AMGN)

Pine Valley Investments Ltd Liability Co increased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 4.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,913 shares of the medical research company’s stock after purchasing an additional 204 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in Amgen were worth $1,280,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Talbot Financial LLC grew its stake in shares of Amgen by 5.6% during the fourth quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company’s stock worth $11,153,000 after purchasing an additional 2,274 shares during the period. Swiss National Bank grew its stake in shares of Amgen by 0.3% during the third quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock worth $513,033,000 after purchasing an additional 5,500 shares during the period. Asset Advisors Investment Management LLC grew its stake in shares of Amgen by 9.0% during the third quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company’s stock worth $11,578,000 after purchasing an additional 2,954 shares during the period. Principal Financial Group Inc. grew its stake in shares of Amgen by 6.0% during the third quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company’s stock worth $204,659,000 after purchasing an additional 35,785 shares during the period. Finally, Ascent Wealth Partners LLC grew its stake in shares of Amgen by 0.7% during the fourth quarter. Ascent Wealth Partners LLC now owns 9,024 shares of the medical research company’s stock worth $2,352,000 after purchasing an additional 64 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Performance

Shares of NASDAQ AMGN opened at $315.63 on Wednesday. The stock has a 50 day moving average price of $278.13 and a 200 day moving average price of $300.16. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. 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 stock has a market capitalization of $169.56 billion, a PE ratio of 41.81, a price-to-earnings-growth ratio of 2.63 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS 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%. Analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be paid a $2.38 dividend. This is a positive change from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. This represents a $9.52 annualized dividend and a yield of 3.02%. Amgen’s dividend payout ratio is currently 126.09%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on AMGN shares. Leerink Partners reduced their target price on Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Bank of America lifted their target price on Amgen from $256.00 to $275.00 and gave the stock an “underperform” rating in a report on Thursday, February 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $324.00 target price on shares of Amgen in a report on Friday, January 24th. Truist Financial reduced their target price on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Finally, Redburn Partners reduced their target price on Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $314.09.

Insider Buying and Selling at Amgen

In other Amgen news, EVP David M. Reese sold 25,225 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $304.44, for a total value of $7,679,499.00. Following the sale, the executive vice president now owns 36,922 shares in the company, valued at $11,240,533.68. This represents a 40.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of the company’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 value of $483,802.83. Following the completion of the sale, the senior vice president now owns 7,210 shares in the company, valued at $2,195,228.70. This represents a 18.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,341 shares of company stock worth $20,644,335 over the last 90 days. Company insiders own 0.69% of the company’s stock.

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.