SRS Capital Advisors Inc. Grows Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

SRS Capital Advisors Inc. raised its position in shares of Amgen Inc. (NASDAQ:AMGN) by 221.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,286 shares of the medical research company’s stock after buying an additional 1,574 shares during the period. SRS Capital Advisors Inc.’s holdings in Amgen were worth $596,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital Performance Advisors LLP purchased a new position in shares of Amgen during the third quarter worth $25,000. Legacy Investment Solutions LLC purchased a new position in shares of Amgen during the third quarter worth $29,000. Centricity Wealth Management LLC acquired a new stake in shares of Amgen in the fourth quarter valued at $25,000. Heck Capital Advisors LLC acquired a new stake in shares of Amgen in the fourth quarter valued at $36,000. Finally, Kennebec Savings Bank acquired a new stake in shares of Amgen in the third quarter valued at $57,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 1,589 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was 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 of the company’s stock, valued at $2,195,228.70. This trade represents a 18.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP David M. Reese sold 25,225 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $304.44, for a total value of $7,679,499.00. Following the transaction, the executive vice president now directly owns 36,922 shares in the company, valued at approximately $11,240,533.68. This represents a 40.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,341 shares of company stock valued at $20,644,335 over the last quarter. 0.69% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AMGN. Leerink Partners reduced their price objective on Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. Redburn Partners reduced their price objective on Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Piper Sandler Companies reiterated an “overweight” rating and issued a $310.00 price objective on shares of Amgen in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft reduced their price objective on Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Finally, Truist Financial reduced their price objective on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $314.09.

Amgen Stock Performance

Shares of AMGN stock opened at $310.78 on Tuesday. The stock’s 50-day moving average is $281.80 and its two-hundred day moving average is $299.73. The firm has a market cap of $166.95 billion, a price-to-earnings ratio of 41.16, a PEG ratio of 2.63 and a beta of 0.56. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. 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 (NASDAQ:AMGN) last released its quarterly 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%. Analysts predict that Amgen Inc. will post 20.62 earnings per share for the current 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 issued a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.06%. This is a positive change from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio (DPR) is currently 126.09%.

Amgen 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.