Level Four Advisory Services LLC Has $3.52 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Level Four Advisory Services LLC raised its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 2.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,485 shares of the medical research company’s stock after purchasing an additional 318 shares during the quarter. Level Four Advisory Services LLC’s holdings in Amgen were worth $3,515,000 as of its most recent SEC filing.

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

Amgen Stock Up 0.4 %

Shares of Amgen stock opened at $306.95 on Friday. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The company has a 50 day moving average of $301.08 and a 200 day moving average of $298.38. 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 has a market capitalization of $164.90 billion, a P/E ratio of 40.66, a P/E/G ratio of 2.63 and a beta of 0.53.

Amgen (NASDAQ:AMGN) last posted 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%. As a group, research analysts forecast that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be issued a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s dividend payout ratio (DPR) is 126.09%.

Wall Street Analysts Forecast Growth

AMGN has been the topic of a number of recent research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $324.00 target price on shares of Amgen in a report on Friday, January 24th. Citigroup reaffirmed a “neutral” rating on shares of Amgen in a research note on Wednesday, February 5th. Johnson Rice set a $294.00 target price on shares of Amgen in a report on Wednesday, March 5th. Piper Sandler upped their price objective on Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Finally, Truist Financial cut their price target on shares of Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $314.04.

Insiders Place Their Bets

In related news, EVP David M. Reese sold 25,225 shares of Amgen stock in a transaction on Friday, February 21st. The shares were sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Nancy A. Grygiel sold 1,589 shares of the company’s stock in a transaction 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 completion of the transaction, 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. Over the last quarter, insiders have sold 69,341 shares of company stock valued at $20,644,335. 0.69% of the stock is owned by corporate insiders.

About Amgen

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.