Ilmarinen Mutual Pension Insurance Co Raises Stake in Amgen Inc. (NASDAQ:AMGN)

Ilmarinen Mutual Pension Insurance Co lifted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 27.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 72,000 shares of the medical research company’s stock after acquiring an additional 15,500 shares during the period. Ilmarinen Mutual Pension Insurance Co’s holdings in Amgen were worth $18,766,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Centricity Wealth Management LLC acquired a new position in Amgen in the 4th quarter valued at about $25,000. Legacy Investment Solutions LLC acquired a new position in Amgen in the third quarter valued at approximately $29,000. Synergy Investment Management LLC acquired a new position in Amgen in the fourth quarter valued at approximately $34,000. Atala Financial Inc purchased a new position in Amgen in the fourth quarter worth approximately $34,000. Finally, Heck Capital Advisors LLC acquired a new stake in Amgen during the fourth quarter worth $36,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

AMGN has been the topic of several recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $324.00 price target on shares of Amgen in a research note on Friday, January 24th. Bank of America increased their target price 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. Johnson Rice set a $294.00 price target on shares of Amgen in a research report on Wednesday, March 5th. UBS Group restated a “hold” rating on shares of Amgen in a report on Wednesday, February 12th. Finally, Piper Sandler lifted their target price on shares of Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $314.04.

Insider Buying and Selling

In related news, EVP Jonathan P. Graham sold 25,045 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $293.12, for a total value of $7,341,190.40. Following the transaction, the executive vice president now directly owns 28,987 shares of the company’s stock, valued at $8,496,669.44. This trade represents a 46.35 % decrease in their position. 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 on Friday, February 21st. The stock was sold at an average price of $304.44, for a total transaction 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 disclosure for this sale can be found here. Insiders sold a total of 69,341 shares of company stock worth $20,644,335 over the last 90 days. 0.69% of the stock is owned by insiders.

Amgen Trading Down 5.0 %

Shares of NASDAQ:AMGN opened at $294.39 on Friday. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The company’s 50 day moving average is $304.18 and its two-hundred day moving average is $297.49. The company has a market cap of $158.15 billion, a PE ratio of 38.99, a P/E/G ratio of 2.63 and a beta of 0.53. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62.

Amgen (NASDAQ:AMGN) last posted its 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%. Equities analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be given a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s dividend payout ratio (DPR) is presently 126.09%.

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.