James Reed Financial Services Inc. Buys Shares of 902 Amgen Inc. (NASDAQ:AMGN)

James Reed Financial Services Inc. bought a new stake in Amgen Inc. (NASDAQ:AMGN) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 902 shares of the medical research company’s stock, valued at approximately $235,000. Amgen makes up approximately 0.2% of James Reed Financial Services Inc.’s holdings, making the stock its 16th largest holding.

A number of other hedge funds also recently added to or reduced their stakes in AMGN. Swedbank AB increased its stake in shares of Amgen by 1.1% during the 3rd quarter. Swedbank AB now owns 538,899 shares of the medical research company’s stock worth $173,639,000 after purchasing an additional 5,751 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of Amgen by 0.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 11,427 shares of the medical research company’s stock worth $3,682,000 after purchasing an additional 54 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Amgen by 7.0% during the 3rd quarter. Van ECK Associates Corp now owns 285,446 shares of the medical research company’s stock worth $89,887,000 after purchasing an additional 18,573 shares in the last quarter. Angeles Wealth Management LLC increased its stake in shares of Amgen by 5.4% during the 3rd quarter. Angeles Wealth Management LLC now owns 873 shares of the medical research company’s stock worth $281,000 after purchasing an additional 45 shares in the last quarter. Finally, Lansing Street Advisors increased its stake in shares of Amgen by 1.3% during the 3rd quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock worth $832,000 after purchasing an additional 32 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Jonathan P. Graham sold 25,045 shares of Amgen stock in a transaction on Friday, February 7th. The shares were sold at an average price of $293.12, for a total transaction of $7,341,190.40. Following 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Nancy A. Grygiel sold 1,589 shares of Amgen 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 sale, the senior vice president now directly owns 7,210 shares in the company, valued at $2,195,228.70. This trade represents a 18.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,341 shares of company stock valued at $20,644,335 in the last quarter. Company insiders own 0.69% of the company’s stock.

Analyst Upgrades and Downgrades

AMGN has been the subject of a number of recent research reports. Piper Sandler Companies reissued an “overweight” rating and set a $310.00 price objective on shares of Amgen in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. UBS Group restated a “hold” rating on shares of Amgen in a research report on Wednesday, February 12th. Royal Bank of Canada restated an “outperform” rating and set a $324.00 target price on shares of Amgen in a research report on Friday, January 24th. Finally, William Blair restated an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amgen presently has an average rating of “Hold” and a consensus target price of $314.09.

Amgen Stock Performance

Shares of AMGN stock opened at $310.78 on Tuesday. The company’s fifty day simple moving average is $281.80 and its 200-day simple moving average is $299.73. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The company has a market cap of $166.95 billion, a PE ratio of 41.16, a P/E/G ratio of 2.63 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, beating 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 research analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be paid a dividend of $2.38 per share. This is an increase from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 annualized dividend and a yield of 3.06%. Amgen’s payout ratio is 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.