Dahring Cusmano LLC Invests $861,000 in Amgen Inc. (NASDAQ:AMGN)

Dahring Cusmano LLC bought a new position in shares of Amgen Inc. (NASDAQ:AMGN) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 3,303 shares of the medical research company’s stock, valued at approximately $861,000. Amgen accounts for approximately 0.8% of Dahring Cusmano LLC’s investment portfolio, making the stock its 19th biggest holding.

Other institutional investors have also made changes to their positions in the company. Talbot Financial LLC increased its stake in shares of Amgen by 5.6% in the fourth quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company’s stock worth $11,153,000 after buying an additional 2,274 shares during the last quarter. Swiss National Bank increased its stake in shares of Amgen by 0.3% in the third quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock worth $513,033,000 after buying an additional 5,500 shares during the last quarter. Asset Advisors Investment Management LLC increased its stake in shares of Amgen by 9.0% in 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 buying an additional 2,954 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Amgen by 6.0% in the third quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company’s stock worth $204,659,000 after buying an additional 35,785 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its stake in shares of Amgen by 3.2% in the third quarter. First Horizon Advisors Inc. now owns 60,769 shares of the medical research company’s stock worth $19,581,000 after buying an additional 1,872 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Amgen

In other news, EVP Jonathan P. Graham sold 25,045 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were 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 in the company, valued at approximately $8,496,669.44. This trade represents a 46.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP David M. Reese sold 25,225 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the transaction, the executive vice president now owns 36,922 shares of the company’s stock, valued at approximately $11,240,533.68. This trade represents a 40.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 69,341 shares of company stock worth $20,644,335 in the last 90 days. Corporate insiders own 0.69% of the company’s stock.

Amgen Stock Performance

Shares of AMGN opened at $303.01 on Friday. The firm has a 50-day moving average price of $276.27 and a 200 day moving average price of $300.59. The firm has a market capitalization of $162.78 billion, a PE ratio of 40.13, a P/E/G ratio of 2.55 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 52-week low of $253.30 and a 52-week high of $346.85.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, beating 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 20.6 earnings per share for the current fiscal year.

Amgen Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be given a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio is currently 126.09%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AMGN. Piper Sandler Companies restated an “overweight” rating and issued a $310.00 price target on shares of Amgen in a research note on Thursday, January 2nd. Truist Financial dropped their target price on shares of Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Redburn Partners dropped their target price on shares of Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. Finally, Citigroup dropped their target price on shares of Amgen from $310.00 to $295.00 and set a “neutral” rating on the stock in a report on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Amgen presently has a consensus rating of “Hold” and an average target price of $314.09.

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.