Amgen Inc. (NASDAQ:AMGN) Shares Purchased by Summit Financial LLC

Summit Financial LLC raised its holdings in Amgen Inc. (NASDAQ:AMGN) by 23.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,566 shares of the medical research company’s stock after purchasing an additional 2,018 shares during the quarter. Summit Financial LLC’s holdings in Amgen were worth $2,754,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new stake in Amgen during the 3rd quarter valued at approximately $29,000. Centricity Wealth Management LLC purchased a new stake in shares of Amgen during the fourth quarter worth approximately $25,000. Synergy Investment Management LLC acquired a new stake in shares of Amgen during the fourth quarter worth $34,000. Atala Financial Inc purchased a new position in Amgen in the 4th quarter valued at $34,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Amgen in the 4th quarter worth $36,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Trading Up 1.5 %

Shares of AMGN stock opened at $311.55 on Tuesday. The firm’s 50-day simple moving average is $301.87 and its 200-day simple moving average is $297.81. 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 Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The firm has a market cap of $167.37 billion, a P/E ratio of 41.26, a PEG ratio of 2.63 and a beta of 0.53.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, topping 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%. As a group, equities analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders 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 3.06%. Amgen’s dividend payout ratio is presently 126.09%.

Insider Transactions at Amgen

In related news, 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 value of $483,802.83. Following the transaction, the senior vice president now owns 7,210 shares in the company, valued at approximately $2,195,228.70. This trade represents a 18.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP David M. Reese sold 25,225 shares of Amgen stock in a transaction that occurred on 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 directly owns 36,922 shares in the company, valued at approximately $11,240,533.68. This trade represents a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,341 shares of company stock worth $20,644,335 in the last three months. 0.69% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on AMGN shares. Piper Sandler Companies reiterated an “overweight” rating and set a $310.00 target price on shares of Amgen in a research report on Thursday, January 2nd. Wells Fargo & Company reiterated an “equal weight” rating on shares of Amgen in a research report on Wednesday, February 5th. Citigroup reissued a “neutral” rating on shares of Amgen in a report on Wednesday, February 5th. Bank of America upped their price target on shares of Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a research note on Wednesday, March 5th. Finally, StockNews.com raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a report on Saturday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Amgen has a consensus rating of “Moderate Buy” and a consensus price target of $314.04.

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.