Amgen Inc. (NASDAQ:AMGN) Position Increased by Trinity Legacy Partners LLC

Trinity Legacy Partners LLC boosted its holdings in Amgen Inc. (NASDAQ:AMGN) by 0.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 15,520 shares of the medical research company’s stock after buying an additional 138 shares during the quarter. Trinity Legacy Partners LLC’s holdings in Amgen were worth $4,045,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in Amgen during the 3rd quarter valued at $25,000. Legacy Investment Solutions LLC purchased a new position in shares of Amgen during the third quarter valued at $29,000. Heck Capital Advisors LLC acquired a new position in Amgen during the fourth quarter valued at $36,000. Kennebec Savings Bank purchased a new stake in Amgen in the 3rd quarter worth about $57,000. Finally, PrairieView Partners LLC lifted its stake in Amgen by 118.3% in the 4th quarter. PrairieView Partners LLC now owns 179 shares of the medical research company’s stock worth $46,000 after acquiring an additional 97 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AMGN. Piper Sandler Companies reiterated an “overweight” rating and issued a $310.00 target price on shares of Amgen in a report on Thursday, January 2nd. Redburn Partners dropped their price objective on shares of Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Truist Financial cut their target price on shares of Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. William Blair restated an “outperform” rating on shares of Amgen in a report on Tuesday, November 12th. Finally, Citigroup dropped their price target on shares of Amgen from $310.00 to $295.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $314.09.

Insider Transactions at Amgen

In related news, EVP Murdo Gordon sold 8,771 shares of Amgen stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $294.79, for a total transaction of $2,585,603.09. Following the sale, the executive vice president now directly owns 44,186 shares of the company’s stock, valued at $13,025,590.94. This trade represents a 16.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Nancy A. Grygiel sold 1,589 shares of the company’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 completion of the transaction, the senior vice president now directly owns 7,210 shares of the company’s stock, valued at approximately $2,195,228.70. This trade represents a 18.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,405 shares of company stock worth $10,410,596 over the last three months. 0.69% of the stock is currently owned by insiders.

Amgen Trading Up 1.2 %

NASDAQ:AMGN opened at $297.93 on Friday. The company’s 50 day moving average is $275.62 and its 200-day moving average is $300.75. 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 12 month low of $253.30 and a 12 month high of $346.85. The firm has a market cap of $160.05 billion, a price-to-earnings ratio of 39.46, a P/E/G ratio of 2.54 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, topping the consensus estimate of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. Equities analysts anticipate that Amgen Inc. will post 20.6 EPS for the current year.

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be given a $2.38 dividend. This is an increase from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s payout ratio is currently 126.09%.

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.