Cushing Capital Partners LLC Acquires New Position in Amgen Inc. (NASDAQ:AMGN)

Cushing Capital Partners LLC bought a new position in Amgen Inc. (NASDAQ:AMGN) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,435 shares of the medical research company’s stock, valued at approximately $635,000.

Other large investors also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in Amgen in the third quarter worth approximately $25,000. Centricity Wealth Management LLC bought a new stake in Amgen in the fourth quarter worth approximately $25,000. Legacy Investment Solutions LLC bought a new stake in Amgen in the third quarter worth approximately $29,000. Synergy Investment Management LLC bought a new stake in Amgen in the fourth quarter worth approximately $34,000. Finally, Heck Capital Advisors LLC bought a new stake in Amgen in the fourth quarter worth approximately $36,000. 76.50% of the stock is owned by institutional investors.

Amgen Trading Up 0.8 %

Shares of AMGN stock opened at $327.36 on Tuesday. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The stock has a market cap of $175.86 billion, a price-to-earnings ratio of 43.36, a P/E/G ratio of 2.63 and a beta of 0.53. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. The firm has a fifty day moving average of $287.50 and a 200-day moving average of $299.50.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data 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 net margin of 12.24% and a return on equity of 176.32%. On average, equities research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be paid a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date is Friday, May 16th. Amgen’s dividend payout ratio is 126.09%.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 1,589 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total value of $483,802.83. Following the sale, the senior vice president now owns 7,210 shares of the company’s stock, valued at approximately $2,195,228.70. This represents a 18.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jonathan P. Graham sold 25,045 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $293.12, for a total transaction of $7,341,190.40. Following the completion of the sale, the executive vice president now directly owns 28,987 shares in the company, valued at approximately $8,496,669.44. The trade was a 46.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 69,341 shares of company stock worth $20,644,335. 0.69% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Jefferies Financial Group reissued a “buy” rating and issued a $380.00 target price on shares of Amgen in a research report on Tuesday, November 12th. Redburn Partners reduced their price objective on shares of Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. StockNews.com cut shares of Amgen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. Wolfe Research initiated coverage on shares of Amgen in a research note on Friday, November 15th. They issued a “peer perform” rating for the company. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $324.00 price objective on shares of Amgen in a research note on Friday, January 24th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $314.04.

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.