3,996 Shares in Amgen Inc. (NASDAQ:AMGN) Purchased by Forefront Wealth Management Inc.

Forefront Wealth Management Inc. bought a new position in shares of Amgen Inc. (NASDAQ:AMGN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,996 shares of the medical research company’s stock, valued at approximately $1,041,000. Amgen accounts for approximately 1.0% of Forefront Wealth Management Inc.’s portfolio, making the stock its 28th largest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Swedbank AB grew its holdings in Amgen by 1.1% in the third quarter. Swedbank AB now owns 538,899 shares of the medical research company’s stock valued at $173,639,000 after purchasing an additional 5,751 shares during the period. Quest Partners LLC grew its holdings in Amgen by 1,568.7% in the third quarter. Quest Partners LLC now owns 1,919 shares of the medical research company’s stock valued at $618,000 after purchasing an additional 1,804 shares during the period. Citizens Financial Group Inc. RI grew its holdings in Amgen by 4.4% in the third quarter. Citizens Financial Group Inc. RI now owns 14,844 shares of the medical research company’s stock valued at $4,783,000 after purchasing an additional 626 shares during the period. LPL Financial LLC grew its holdings in Amgen by 0.7% in the third quarter. LPL Financial LLC now owns 751,945 shares of the medical research company’s stock valued at $242,284,000 after purchasing an additional 4,999 shares during the period. Finally, Thompson Siegel & Walmsley LLC boosted its stake in shares of Amgen by 7.4% in the third quarter. Thompson Siegel & Walmsley LLC now owns 41,548 shares of the medical research company’s stock worth $13,387,000 after acquiring an additional 2,871 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Up 0.3 %

Amgen stock opened at $316.04 on Friday. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. 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 company has a market capitalization of $169.78 billion, a P/E ratio of 41.86, a PEG ratio of 2.63 and a beta of 0.53. The stock has a 50-day simple moving average of $297.24 and a 200-day simple moving average of $299.02.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, beating the consensus estimate of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. Equities research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The business 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. This represents a $9.52 annualized dividend and a yield of 3.01%. The ex-dividend date is Friday, May 16th. Amgen’s dividend payout ratio is presently 126.09%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AMGN. Bank of America lifted their price target on Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a research note on Wednesday, March 5th. Redburn Partners lowered their price target on Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Amgen in a research note on Wednesday, February 5th. Citigroup reaffirmed a “neutral” rating on shares of Amgen in a research note on Wednesday, February 5th. 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 note on Monday, February 10th. Two investment 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $314.04.

Insider Buying and Selling at Amgen

In other Amgen news, EVP David M. Reese sold 25,225 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the completion of the sale, the executive vice president now directly owns 36,922 shares of the company’s stock, valued at $11,240,533.68. This represents a 40.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jonathan P. Graham sold 25,045 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $293.12, for a total value of $7,341,190.40. Following the sale, the executive vice president now directly owns 28,987 shares of the company’s stock, valued at approximately $8,496,669.44. This represents a 46.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,341 shares of company stock valued at $20,644,335 in the last ninety days. Insiders own 0.69% of the company’s stock.

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.