OFI Invest Asset Management Buys New Stake in Amgen Inc. (NASDAQ:AMGN)

OFI Invest Asset Management bought a new stake in Amgen Inc. (NASDAQ:AMGN) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 5,674 shares of the medical research company’s stock, valued at approximately $1,428,000.

Other hedge funds have also recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new position in shares of Amgen in the 3rd quarter valued at $25,000. Centricity Wealth Management LLC acquired a new stake in Amgen during the 4th quarter worth $25,000. Legacy Investment Solutions LLC acquired a new stake in Amgen during the 3rd quarter worth $29,000. Synergy Investment Management LLC acquired a new stake in Amgen during the 4th quarter worth $34,000. Finally, Heck Capital Advisors LLC acquired a new stake in Amgen during the 4th quarter worth $36,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Truist Financial decreased their price target on shares of Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. William Blair reiterated an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Amgen in a research note on Wednesday, February 5th. Wolfe Research assumed coverage on shares of Amgen in a research note on Friday, November 15th. They set a “peer perform” rating for the company. Finally, Piper Sandler Companies restated an “overweight” rating and issued a $310.00 target price on shares of Amgen in a research note on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $314.95.

Insider Transactions at Amgen

In other news, EVP Murdo Gordon sold 8,771 shares of Amgen stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $294.79, for a total transaction of $2,585,603.09. Following the completion of the sale, the executive vice president now directly owns 44,186 shares in the company, valued at $13,025,590.94. The trade was a 16.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP David M. Reese sold 8,711 shares of Amgen stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $293.22, for a total transaction 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. Insiders sold a total of 69,341 shares of company stock worth $20,644,335 over the last ninety days. 0.69% of the stock is currently owned by corporate insiders.

Amgen Stock Performance

NASDAQ:AMGN opened at $324.86 on Monday. 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 firm has a 50-day moving average price of $286.14 and a two-hundred day moving average price of $299.48. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The company has a market capitalization of $174.52 billion, a P/E ratio of 43.03, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, beating the consensus estimate of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. As a group, research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be issued a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 2.93%. Amgen’s dividend payout ratio (DPR) 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.