Richwood Investment Advisors LLC Boosts Stock Position in Amgen Inc. (NASDAQ:AMGN)

Richwood Investment Advisors LLC raised its position in shares of Amgen Inc. (NASDAQ:AMGN) by 5.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,338 shares of the medical research company’s stock after purchasing an additional 206 shares during the quarter. Amgen accounts for 0.9% of Richwood Investment Advisors LLC’s portfolio, making the stock its 23rd largest position. Richwood Investment Advisors LLC’s holdings in Amgen were worth $1,131,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Centricity Wealth Management LLC purchased a new stake in Amgen during the 4th quarter valued at about $25,000. Legacy Investment Solutions LLC purchased a new stake in shares of Amgen in the third quarter worth about $29,000. Synergy Investment Management LLC purchased a new stake in shares of Amgen in the fourth quarter worth about $34,000. Atala Financial Inc purchased a new stake in shares of Amgen in the fourth quarter worth about $34,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of Amgen in the fourth quarter worth about $36,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insider Buying and Selling

In other news, EVP Murdo Gordon sold 8,771 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $294.79, for a total transaction of $2,585,603.09. Following the completion of the transaction, the executive vice president now directly owns 44,186 shares in the company, valued at $13,025,590.94. This trade represents a 16.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jonathan P. Graham sold 25,045 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was 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 owns 28,987 shares of the company’s stock, 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. Over the last three months, insiders sold 69,341 shares of company stock worth $20,644,335. Company insiders own 0.69% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on AMGN. Truist Financial lowered their target price on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. UBS Group restated a “hold” rating on shares of Amgen in a research note on Wednesday, February 12th. Leerink Partners lowered their target price on Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. Royal Bank of Canada restated an “outperform” rating and issued a $324.00 target price on shares of Amgen in a research note on Friday, January 24th. Finally, Johnson Rice set a $294.00 price target on Amgen in a report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $314.04.

Amgen Price Performance

NASDAQ:AMGN opened at $316.04 on Friday. Amgen Inc. has a one year low of $253.30 and a one 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. The stock has a market cap of $169.78 billion, a PE ratio of 41.86, a P/E/G ratio of 2.63 and a beta of 0.53. The stock has a 50 day moving average price of $297.24 and a 200 day moving average price of $298.80.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 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 expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

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