NewEdge Wealth LLC Purchases 9,113 Shares of Amgen Inc. (NASDAQ:AMGN)

NewEdge Wealth LLC increased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 12.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,196 shares of the medical research company’s stock after acquiring an additional 9,113 shares during the quarter. NewEdge Wealth LLC’s holdings in Amgen were worth $21,423,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund increased its position in shares of Amgen by 0.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 46,088 shares of the medical research company’s stock worth $12,012,000 after purchasing an additional 167 shares in the last quarter. Checchi Capital Advisers LLC grew its stake in Amgen by 0.7% during the 4th quarter. Checchi Capital Advisers LLC now owns 6,701 shares of the medical research company’s stock worth $1,747,000 after buying an additional 44 shares during the last quarter. Red Crane Wealth Management LLC acquired a new position in Amgen during the 4th quarter valued at about $515,000. National Pension Service increased its position in Amgen by 2.8% during the 4th quarter. National Pension Service now owns 1,093,563 shares of the medical research company’s stock valued at $285,026,000 after buying an additional 29,272 shares in the last quarter. Finally, Advisor OS LLC raised its stake in Amgen by 34.8% in the fourth quarter. Advisor OS LLC now owns 3,997 shares of the medical research company’s stock valued at $1,042,000 after buying an additional 1,031 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on AMGN shares. UBS Group restated a “hold” rating on shares of Amgen in a report on Wednesday, February 12th. Citigroup restated a “neutral” rating on shares of Amgen in a research note on Wednesday, February 5th. Leerink Partners decreased their price target on shares of Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Truist Financial dropped their price objective 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. Finally, William Blair restated an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $314.09.

Insider Buying and Selling

In related news, EVP Jonathan P. Graham sold 25,045 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $293.12, for a total value of $7,341,190.40. Following the transaction, the executive vice president now directly owns 28,987 shares of the company’s stock, valued at approximately $8,496,669.44. This trade represents a 46.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP David M. Reese sold 8,711 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $293.22, for a total value of $2,554,239.42. Following the sale, the executive vice president now owns 62,147 shares of the company’s stock, valued at approximately $18,222,743.34. This trade represents a 12.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,341 shares of company stock valued at $20,644,335. 0.69% of the stock is owned by corporate insiders.

Amgen Trading Down 2.9 %

Shares of Amgen stock opened at $306.38 on Thursday. The firm has a 50-day simple moving average of $279.08 and a two-hundred day simple moving average of $300.20. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The company has a market cap of $164.59 billion, a P/E ratio of 40.58, a price-to-earnings-growth ratio of 2.63 and a beta of 0.56.

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, 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%. As a group, equities analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be paid a $2.38 dividend. The ex-dividend date is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a yield of 3.11%. This is a boost from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio (DPR) is currently 126.09%.

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.