Redwood Park Advisors LLC Takes $194,000 Position in Amgen Inc. (NASDAQ:AMGN)

Redwood Park Advisors LLC purchased a new stake in shares of Amgen Inc. (NASDAQ:AMGN) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 743 shares of the medical research company’s stock, valued at approximately $194,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Centricity Wealth Management LLC acquired a new position in shares of Amgen in the 4th quarter valued at about $25,000. Ritter Daniher Financial Advisory LLC DE lifted its stake in Amgen by 66.2% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock valued at $33,000 after acquiring an additional 51 shares in the last quarter. Synergy Investment Management LLC acquired a new position in shares of Amgen during the 4th quarter worth approximately $34,000. Atala Financial Inc bought a new stake in Amgen in the 4th quarter valued at $34,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of Amgen during the 4th quarter valued at $36,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Amgen

In other Amgen news, EVP Jonathan P. Graham sold 25,045 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $293.12, for a total value of $7,341,190.40. Following the completion of the sale, the executive vice president now owns 28,987 shares of the company’s stock, valued at $8,496,669.44. The trade was a 46.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Nancy A. Grygiel sold 1,589 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total value of $483,802.83. Following the completion of the transaction, the senior vice president now directly owns 7,210 shares in the company, valued at $2,195,228.70. The trade was a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,341 shares of company stock worth $20,644,335. 0.69% of the stock is currently owned by corporate insiders.

Amgen Stock Up 3.9 %

NASDAQ AMGN opened at $291.09 on Thursday. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The company has a market cap of $156.38 billion, a P/E ratio of 38.56, a P/E/G ratio of 2.63 and a beta of 0.59. The business has a fifty day moving average price of $304.54 and a 200 day moving average price of $295.80. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26.

Amgen (NASDAQ:AMGN) last posted its quarterly 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 return on equity of 176.32% and a net margin of 12.24%. Research analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 3.27%. Amgen’s dividend payout ratio (DPR) is presently 126.09%.

Analyst Ratings Changes

Several research firms recently commented on AMGN. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Amgen in a research note on Wednesday, February 5th. StockNews.com raised Amgen from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Bank of America raised their price objective on Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a research report on Wednesday, March 5th. Morgan Stanley lifted their target price on Amgen from $328.00 to $330.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Piper Sandler lifted their price target on Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Amgen presently has a consensus rating of “Moderate Buy” and a consensus target price of $315.22.

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.