Runnymede Capital Advisors Inc. Acquires Shares of 175 Amgen Inc. (NASDAQ:AMGN)

Runnymede Capital Advisors Inc. acquired a new stake in Amgen Inc. (NASDAQ:AMGN) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 175 shares of the medical research company’s stock, valued at approximately $46,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMGN. Charles Schwab Investment Management Inc. raised its holdings in Amgen by 25.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company’s stock valued at $3,441,909,000 after acquiring an additional 2,672,975 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Amgen in the 4th quarter valued at $401,913,000. Van ECK Associates Corp raised its holdings in shares of Amgen by 263.8% during the 4th quarter. Van ECK Associates Corp now owns 1,038,593 shares of the medical research company’s stock worth $270,699,000 after buying an additional 753,147 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Amgen by 40.7% during the 4th quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company’s stock worth $609,526,000 after buying an additional 676,598 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of Amgen by 11.7% during the 3rd quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock worth $1,657,183,000 after buying an additional 538,545 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 1,589 shares of the company’s stock in a transaction that occurred on 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 directly owns 7,210 shares of the company’s stock, valued at approximately $2,195,228.70. This represents a 18.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jonathan P. Graham sold 25,045 shares of the company’s stock in a transaction that occurred 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 directly owns 28,987 shares in the company, valued at approximately $8,496,669.44. This trade 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 90 days. Corporate insiders own 0.69% of the company’s stock.

Amgen Stock Up 0.3 %

Shares of Amgen stock 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 current ratio of 1.26 and a quick ratio of 0.95. The stock’s 50-day moving average is $297.24 and its 200 day moving average is $298.80. The firm has a market cap of $169.78 billion, a price-to-earnings ratio of 41.86, a PEG ratio of 2.63 and a beta of 0.53.

Amgen (NASDAQ:AMGN) last announced its 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 anticipate that Amgen Inc. will post 20.62 EPS for the current 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 dividend yield of 3.01%. Amgen’s payout ratio is 126.09%.

Wall Street Analysts Forecast Growth

AMGN has been the subject of a number of research analyst reports. Redburn Partners lowered their price target on Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Bank of America boosted their price target on Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a report on Wednesday, March 5th. Royal Bank of Canada reissued an “outperform” rating and set a $324.00 price target on shares of Amgen in a report on Friday, January 24th. Piper Sandler Companies reissued an “overweight” rating and set a $310.00 price target on shares of Amgen in a report on Thursday, January 2nd. Finally, Leerink Partners lowered their price target on Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Amgen presently has an average rating of “Hold” and a consensus target price of $314.04.

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.