Amgen Inc. (NASDAQ:AMGN) Shares Purchased by TRUE Private Wealth Advisors

TRUE Private Wealth Advisors boosted its holdings in Amgen Inc. (NASDAQ:AMGNGet Rating) by 11.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,328 shares of the medical research company’s stock after purchasing an additional 139 shares during the quarter. TRUE Private Wealth Advisors’ holdings in Amgen were worth $299,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Culbertson A N & Co Inc lifted its stake in Amgen by 19.8% in the third quarter. Culbertson A N & Co Inc now owns 1,450 shares of the medical research company’s stock valued at $326,000 after buying an additional 240 shares during the last quarter. Asset Dedication LLC lifted its stake in Amgen by 11.8% in the second quarter. Asset Dedication LLC now owns 11,931 shares of the medical research company’s stock valued at $2,875,000 after buying an additional 1,259 shares during the last quarter. Mather Group LLC. lifted its stake in Amgen by 2.3% in the second quarter. Mather Group LLC. now owns 4,097 shares of the medical research company’s stock valued at $997,000 after buying an additional 91 shares during the last quarter. Schmidt P J Investment Management Inc. bought a new stake in Amgen in the second quarter valued at $235,000. Finally, NewSquare Capital LLC lifted its stake in Amgen by 7.3% in the third quarter. NewSquare Capital LLC now owns 18,425 shares of the medical research company’s stock valued at $4,153,000 after buying an additional 1,249 shares during the last quarter. Institutional investors and hedge funds own 75.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on AMGN shares. Oppenheimer raised their target price on Amgen from $300.00 to $310.00 and gave the company an “outperform” rating in a research note on Tuesday, December 6th. Piper Sandler cut their target price on Amgen from $299.00 to $293.00 and set an “overweight” rating on the stock in a research note on Thursday, January 19th. Credit Suisse Group began coverage on shares of Amgen in a research note on Thursday, November 17th. They set an “underperform” rating and a $240.00 price objective on the stock. StockNews.com upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 17th. Finally, Barclays lifted their price objective on shares of Amgen from $234.00 to $240.00 and gave the company an “underweight” rating in a research note on Wednesday, January 18th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $253.57.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 545 shares of Amgen stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $293.54, for a total value of $159,979.30. Following the transaction, the senior vice president now owns 13,009 shares of the company’s stock, valued at approximately $3,818,661.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is currently owned by company insiders.

Amgen Price Performance

NASDAQ:AMGN opened at $259.70 on Wednesday. The business’s 50-day moving average price is $273.21 and its 200 day moving average price is $257.04. The firm has a market cap of $138.57 billion, a P/E ratio of 20.83, a PEG ratio of 1.85 and a beta of 0.67. Amgen Inc. has a 52-week low of $214.39 and a 52-week high of $296.67. The company has a quick ratio of 1.35, a current ratio of 1.68 and a debt-to-equity ratio of 10.17.

Amgen (NASDAQ:AMGNGet Rating) last released its earnings results on Thursday, November 3rd. The medical research company reported $4.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.43 by $0.27. The firm had revenue of $6.65 billion for the quarter, compared to analyst estimates of $6.56 billion. Amgen had a return on equity of 287.23% and a net margin of 25.96%. Amgen’s revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the company earned $4.67 earnings per share. As a group, sell-side analysts predict that Amgen Inc. will post 17.62 earnings per share for the current fiscal year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 8th. Investors of record on Wednesday, February 15th will be paid a $2.13 dividend. The ex-dividend date of this dividend is Tuesday, February 14th. This represents a $8.52 dividend on an annualized basis and a yield of 3.28%. This is a boost from Amgen’s previous quarterly dividend of $1.94. Amgen’s dividend payout ratio (DPR) is currently 62.23%.

About Amgen

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Amgen, Inc is a biotechnology company, which engages in the discovery, development, manufacture and marketing of human therapeutics. Its products include the following brands: Aranesp, Aimovig, KANJINTI, EVENITY, AMGEVITA, AVSOLA, BLINCYTO, MVASI, Corlanor, Enbrel, EPOGEN, IMLYGIC, Kyprolis, Neulasta, NEUPOGEN, Nplate, Parsabiv, Prolia, Repatha, Sensipar, Vectibix, Otezla, RIABNI, and XGEVA.

Further Reading

Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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