North Forty Two & Co. Buys Shares of 2,420 Amgen Inc. (NASDAQ:AMGN)

North Forty Two & Co. bought 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 and Exchange Commission. The institutional investor bought 2,420 shares of the medical research company’s stock, valued at approximately $631,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Centricity Wealth Management LLC acquired a new stake in shares of Amgen during the 4th quarter worth approximately $25,000. Legacy Investment Solutions LLC acquired a new stake in shares of Amgen during the 3rd quarter worth approximately $29,000. Synergy Investment Management LLC acquired a new stake in shares of Amgen during the 4th quarter worth approximately $34,000. Atala Financial Inc acquired a new stake in shares of Amgen during the 4th quarter worth approximately $34,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Amgen during the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 1,589 shares of Amgen stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total value of $483,802.83. Following the completion of the sale, the senior vice president now owns 7,210 shares of the company’s stock, valued at approximately $2,195,228.70. This trade represents a 18.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Murdo Gordon sold 8,771 shares of Amgen stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 44,186 shares of the company’s stock, valued at approximately $13,025,590.94. This trade represents a 16.56 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 69,341 shares of company stock valued at $20,644,335. 0.69% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on AMGN. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Amgen in a research report on Wednesday, February 5th. Citigroup reaffirmed a “neutral” rating on shares of Amgen in a research report on Wednesday, February 5th. Truist Financial cut their target price on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft cut their target price on Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. Finally, Piper Sandler increased their target price on Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $314.04.

Amgen Trading Up 0.5 %

Shares of Amgen stock opened at $318.65 on Wednesday. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The firm has a market cap of $171.18 billion, a PE ratio of 42.21, a P/E/G ratio of 2.63 and a beta of 0.53. The stock has a fifty day moving average price of $294.12 and a 200-day moving average price of $298.91. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95.

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

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be issued a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 2.99%. The ex-dividend date is Friday, May 16th. 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.