Crowley Wealth Management Inc. Invests $2.61 Million in Amgen Inc. (NASDAQ:AMGN)

Crowley Wealth Management Inc. acquired a new position in Amgen Inc. (NASDAQ:AMGN) in the fourth quarter, Holdings Channel reports. The firm acquired 10,017 shares of the medical research company’s stock, valued at approximately $2,611,000. Amgen accounts for 2.3% of Crowley Wealth Management Inc.’s portfolio, making the stock its 13th largest holding.

A number of other hedge funds also recently modified their holdings of AMGN. Legacy Investment Solutions LLC acquired a new stake in Amgen during the 3rd quarter worth about $29,000. Centricity Wealth Management LLC purchased a new stake in shares of Amgen in the fourth quarter worth approximately $25,000. Synergy Investment Management LLC acquired a new stake in shares of Amgen during the fourth quarter worth approximately $34,000. Atala Financial Inc purchased a new position in Amgen during the fourth quarter valued at approximately $34,000. Finally, Heck Capital Advisors LLC acquired a new position in Amgen in the 4th quarter valued at approximately $36,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on AMGN shares. UBS Group restated a “hold” rating on shares of Amgen in a report on Wednesday, February 12th. Redburn Partners dropped their price objective on Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Piper Sandler raised their target price on Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Johnson Rice set a $294.00 price objective on shares of Amgen in a research note on Wednesday, March 5th. Finally, Bank of America raised their price target on shares of Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a research report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $314.04.

Insiders Place Their Bets

In other news, EVP Murdo Gordon sold 8,771 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $294.79, for a total value of $2,585,603.09. Following the transaction, the executive vice president now owns 44,186 shares of the company’s stock, valued at $13,025,590.94. This represents a 16.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 completion of the sale, the senior vice president now owns 7,210 shares of the company’s stock, valued at $2,195,228.70. This represents a 18.06 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 69,341 shares of company stock valued at $20,644,335. 0.69% of the stock is currently owned by insiders.

Amgen Trading Up 0.3 %

Shares of AMGN opened at $316.04 on Friday. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The company has a market cap of $169.78 billion, a price-to-earnings ratio of 41.86, a PEG 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 stock has a fifty day moving average price of $297.24 and a two-hundred day moving average price of $298.80.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share 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%. Analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be given a $2.38 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a yield of 3.01%. 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.