Beacon Harbor Wealth Advisors Inc. Buys Shares of 13,548 Amgen Inc. (NASDAQ:AMGN)

Beacon Harbor Wealth Advisors Inc. bought a new stake in Amgen Inc. (NASDAQ:AMGN) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 13,548 shares of the medical research company’s stock, valued at approximately $3,531,000.

Other large investors have also recently bought and sold shares of the company. Swedbank AB increased its position in shares of Amgen by 1.1% during the third quarter. Swedbank AB now owns 538,899 shares of the medical research company’s stock worth $173,639,000 after acquiring an additional 5,751 shares in the last quarter. Crestwood Advisors Group LLC boosted its holdings in Amgen by 0.5% during the third quarter. Crestwood Advisors Group LLC now owns 10,515 shares of the medical research company’s stock worth $3,388,000 after purchasing an additional 55 shares during the last quarter. Avidian Wealth Enterprises LLC boosted its holdings in Amgen by 0.6% during the third quarter. Avidian Wealth Enterprises LLC now owns 5,863 shares of the medical research company’s stock worth $1,889,000 after purchasing an additional 33 shares during the last quarter. Beacon Financial Advisory LLC boosted its holdings in Amgen by 4.6% during the third quarter. Beacon Financial Advisory LLC now owns 769 shares of the medical research company’s stock worth $248,000 after purchasing an additional 34 shares during the last quarter. Finally, Catalina Capital Group LLC lifted its stake in Amgen by 10.1% in the third quarter. Catalina Capital Group LLC now owns 2,330 shares of the medical research company’s stock valued at $751,000 after acquiring an additional 213 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on AMGN. Piper Sandler Companies reiterated an “overweight” rating and issued a $310.00 price target on shares of Amgen in a research note on Thursday, January 2nd. Leerink Partners dropped their price objective on shares of Amgen from $349.00 to $302.00 in a research 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 research report on Wednesday, January 8th. Bank of America raised their price target on shares of Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a research report on Wednesday. Finally, Redburn Partners lowered their price target on shares of Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Amgen currently has a consensus rating of “Hold” and an average target price of $314.95.

Insider Buying and Selling

In related news, EVP David M. Reese sold 25,225 shares of Amgen stock in a transaction that occurred 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jonathan P. Graham sold 25,045 shares of Amgen stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $293.12, for a total transaction of $7,341,190.40. Following the sale, the executive vice president now owns 28,987 shares in the company, valued at approximately $8,496,669.44. This represents a 46.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,341 shares of company stock worth $20,644,335 in the last ninety days. Company insiders own 0.69% of the company’s stock.

Amgen Trading Up 1.4 %

AMGN opened at $316.57 on Thursday. The company’s 50 day moving average is $283.80 and its 200-day moving average is $299.78. 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 0.95 and a debt-to-equity ratio of 9.62. The company has a market cap of $170.06 billion, a P/E ratio of 41.93, a PEG ratio of 2.63 and a beta of 0.56.

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 net margin of 12.24% and a return on equity of 176.32%. Equities research analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be given a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 annualized dividend and a yield of 3.01%. Amgen’s dividend payout ratio is presently 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.