Jacobi Capital Management LLC Raises Holdings in Amgen Inc. (NASDAQ:AMGN)

Jacobi Capital Management LLC boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 4.3% in the 4th quarter, HoldingsChannel reports. The fund owned 11,208 shares of the medical research company’s stock after buying an additional 463 shares during the quarter. Jacobi Capital Management LLC’s holdings in Amgen were worth $2,921,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in Amgen during the 3rd quarter valued at about $25,000. Legacy Investment Solutions LLC purchased a new stake in Amgen in the 3rd quarter worth approximately $29,000. Centricity Wealth Management LLC bought a new stake in shares of Amgen in the 4th quarter worth approximately $25,000. Heck Capital Advisors LLC bought a new stake in shares of Amgen in the 4th quarter worth approximately $36,000. Finally, Kennebec Savings Bank bought a new stake in shares of Amgen in the 3rd quarter worth approximately $57,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 1,589 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total transaction of $483,802.83. Following the transaction, the senior vice president now directly owns 7,210 shares of the company’s stock, valued at $2,195,228.70. This represents a 18.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Murdo Gordon sold 8,771 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $294.79, for a total value of $2,585,603.09. Following the completion of the transaction, the executive vice president now directly owns 44,186 shares in the company, valued at approximately $13,025,590.94. This represents a 16.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,341 shares of company stock valued at $20,644,335 over the last ninety days. 0.69% of the stock is currently owned by corporate insiders.

Amgen Trading Up 0.7 %

Amgen stock opened at $308.06 on Friday. The company has a market capitalization of $165.49 billion, a price-to-earnings ratio of 40.80, a price-to-earnings-growth ratio of 2.63 and a beta of 0.56. 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 Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The business’s fifty day simple moving average is $280.87 and its two-hundred day simple moving average is $300.16.

Amgen (NASDAQ:AMGN) last announced 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%. As a group, equities analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be issued a dividend of $2.38 per share. This is an increase from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date is Friday, February 14th. Amgen’s dividend payout ratio is presently 126.09%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Wolfe Research assumed coverage on Amgen in a research report on Friday, November 15th. They issued a “peer perform” rating on the stock. Piper Sandler lifted their price objective on Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Truist Financial cut their price objective on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Amgen in a research report on Wednesday, February 5th. Finally, William Blair restated an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. Two equities 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 issued a strong buy rating to the company. According to data from MarketBeat.com, Amgen has an average rating of “Hold” and an average target price of $314.09.

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.