Mystic Asset Management Inc. Grows Holdings in Amgen Inc. (NASDAQ:AMGN)

Mystic Asset Management Inc. increased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 75.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,267 shares of the medical research company’s stock after purchasing an additional 546 shares during the quarter. Mystic Asset Management Inc.’s holdings in Amgen were worth $330,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Talbot Financial LLC boosted its stake in Amgen by 5.6% in the fourth quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company’s stock valued at $11,153,000 after acquiring an additional 2,274 shares during the last quarter. Asset Advisors Investment Management LLC boosted its stake in 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 valued at $11,578,000 after acquiring an additional 2,954 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Amgen by 6.0% in the third quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company’s stock valued at $204,659,000 after acquiring an additional 35,785 shares during the last quarter. Ascent Wealth Partners LLC boosted its stake in Amgen by 0.7% in the fourth quarter. Ascent Wealth Partners LLC now owns 9,024 shares of the medical research company’s stock valued at $2,352,000 after acquiring an additional 64 shares during the last quarter. Finally, ICICI Prudential Asset Management Co Ltd boosted its stake in Amgen by 242.2% in the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 23,999 shares of the medical research company’s stock valued at $6,255,000 after acquiring an additional 16,985 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AMGN. Redburn Partners dropped their target price on shares of Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Citigroup restated a “neutral” rating on shares of Amgen in a research note on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Piper Sandler Companies restated an “overweight” rating and set a $310.00 price target on shares of Amgen in a research note on Thursday, January 2nd. Finally, Johnson Rice set a $294.00 price target on shares of Amgen in a research note on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Amgen currently has an average rating of “Hold” and an average target price of $314.04.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $318.65 on Wednesday. The company’s fifty day moving average price is $294.12 and its 200-day moving average price is $298.91. The firm has a market capitalization of $171.18 billion, a price-to-earnings ratio of 42.21, a PEG ratio of 2.63 and a beta of 0.53. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data 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, equities research analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be paid a $2.38 dividend. The ex-dividend date is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 2.99%. Amgen’s dividend payout ratio (DPR) is 126.09%.

Insider Activity

In other Amgen news, EVP Murdo Gordon sold 8,771 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $294.79, for a total transaction of $2,585,603.09. Following the completion of the sale, the executive vice president now owns 44,186 shares of the company’s stock, valued at $13,025,590.94. This represents a 16.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Nancy A. Grygiel sold 1,589 shares of the stock in a transaction 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 sale, the senior vice president now directly owns 7,210 shares of the company’s stock, valued at $2,195,228.70. The trade was a 18.06 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 69,341 shares of company stock valued at $20,644,335. Corporate insiders own 0.69% of the company’s stock.

Amgen 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.