CoreFirst Bank & Trust Buys New Position in Amgen Inc. (NASDAQ:AMGN)

CoreFirst Bank & Trust purchased a new position in Amgen Inc. (NASDAQ:AMGN) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,243 shares of the medical research company’s stock, valued at approximately $585,000.

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

Insider Activity

In other news, EVP David M. Reese sold 25,225 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $304.44, for a total value of $7,679,499.00. Following the completion of the transaction, the executive vice president now directly owns 36,922 shares in the company, valued at $11,240,533.68. This trade represents a 40.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total transaction of $483,802.83. Following the transaction, the senior vice president now owns 7,210 shares in the company, valued at $2,195,228.70. This represents a 18.06 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,341 shares of company stock valued at $20,644,335. Company insiders own 0.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Johnson Rice set a $294.00 price objective on Amgen in a research note on Wednesday, March 5th. Piper Sandler raised their price target on shares of Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $310.00 price target on shares of Amgen in a report on Thursday, January 2nd. Wells Fargo & Company reissued an “equal weight” rating on shares of Amgen in a report on Wednesday, February 5th. Finally, Bank of America boosted their target price 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 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 stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $314.04.

Amgen Trading Down 0.5 %

Shares of NASDAQ:AMGN opened at $314.38 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The company’s 50-day moving average price is $298.13 and its 200 day moving average price is $298.50. The company has a market cap of $168.89 billion, a PE ratio of 41.64, a P/E/G ratio of 2.63 and a beta of 0.53. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share 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%. Sell-side analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently declared 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. The ex-dividend date is Friday, May 16th. This represents a $9.52 annualized dividend and a dividend yield of 3.03%. 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.