BXM Wealth LLC Acquires New Shares in Amgen Inc. (NASDAQ:AMGN)

BXM Wealth LLC acquired a new stake in shares of Amgen Inc. (NASDAQ:AMGN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,206 shares of the medical research company’s stock, valued at approximately $314,000.

A number of other institutional investors have also recently bought and sold shares of AMGN. Capital Performance Advisors LLP acquired a new stake in Amgen during the third quarter valued at $25,000. Legacy Investment Solutions LLC acquired a new stake in Amgen during the third quarter valued at $29,000. Heck Capital Advisors LLC acquired a new stake in Amgen during the fourth quarter valued at $36,000. PrairieView Partners LLC boosted its position in Amgen by 118.3% during the fourth quarter. PrairieView Partners LLC now owns 179 shares of the medical research company’s stock valued at $46,000 after purchasing an additional 97 shares during the last quarter. Finally, Wingate Wealth Advisors Inc. acquired a new stake in shares of Amgen in the fourth quarter worth about $52,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $405.00 price target on shares of Amgen in a research note on Tuesday, October 22nd. Jefferies Financial Group reiterated a “buy” rating and set a $380.00 price target on shares of Amgen in a research note on Tuesday, November 12th. Citigroup decreased their price target on Amgen from $310.00 to $295.00 and set a “neutral” rating for the company in a research note on Tuesday, January 28th. Piper Sandler Companies reiterated an “overweight” rating and set a $310.00 price target on shares of Amgen in a research note on Thursday, January 2nd. Finally, William Blair reiterated an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $314.09.

Amgen Trading Down 2.0 %

Shares of AMGN opened at $291.16 on Friday. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The company has a current ratio of 1.26, a quick ratio of 0.96 and a debt-to-equity ratio of 9.62. The stock has a 50 day simple moving average of $273.75 and a 200-day simple moving average of $302.14. The stock has a market cap of $156.51 billion, a PE ratio of 38.56, a PEG ratio of 3.01 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, topping 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%. On average, sell-side analysts predict that Amgen Inc. will post 20.59 EPS for the current fiscal year.

Amgen Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be issued a $2.38 dividend. The ex-dividend date is Friday, February 14th. This is a boost from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.27%. Amgen’s dividend payout ratio is presently 126.09%.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 1,589 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total transaction of $483,802.83. Following the sale, the senior vice president now directly owns 7,210 shares in the company, valued at $2,195,228.70. This represents a 18.06 % 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 Murdo Gordon sold 8,771 shares of the stock in a transaction that occurred 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 sale, the executive vice president now owns 44,186 shares in the company, valued at approximately $13,025,590.94. This trade represents a 16.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,405 shares of company stock worth $10,410,596 in the last three months. Insiders own 0.69% of the company’s stock.

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.