Hidden Cove Wealth Management LLC Takes $293,000 Position in Amgen Inc. (NASDAQ:AMGN)

Hidden Cove Wealth Management LLC bought a new position 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 1,123 shares of the medical research company’s stock, valued at approximately $293,000.

Several other hedge funds have also recently bought and sold shares of AMGN. AMF Tjanstepension AB boosted its position in shares of Amgen by 16.9% in the third quarter. AMF Tjanstepension AB now owns 120,389 shares of the medical research company’s stock worth $38,825,000 after buying an additional 17,387 shares during the period. Creative Planning boosted its holdings in Amgen by 8.6% in the 3rd quarter. Creative Planning now owns 197,457 shares of the medical research company’s stock worth $63,402,000 after acquiring an additional 15,564 shares during the period. Swedbank AB grew its position in Amgen by 1.1% in the third quarter. Swedbank AB now owns 538,899 shares of the medical research company’s stock valued at $173,639,000 after acquiring an additional 5,751 shares in the last quarter. Magnus Financial Group LLC grew its position in Amgen by 15.2% in the third quarter. Magnus Financial Group LLC now owns 896 shares of the medical research company’s stock valued at $289,000 after acquiring an additional 118 shares in the last quarter. Finally, Regatta Capital Group LLC raised its stake in shares of Amgen by 2.7% during the third quarter. Regatta Capital Group LLC now owns 6,083 shares of the medical research company’s stock valued at $1,960,000 after purchasing an additional 159 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on AMGN shares. Bank of America raised their price target on shares of Amgen from $256.00 to $275.00 and gave the company an “underperform” rating in a report on Thursday, February 6th. Citigroup lowered their target price on Amgen from $310.00 to $295.00 and set a “neutral” rating for the company in a research note on Tuesday, January 28th. Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 price target on shares of Amgen in a research note on Tuesday, November 12th. Wells Fargo & Company lowered their price objective on Amgen from $335.00 to $280.00 and set an “equal weight” rating for the company in a research note on Friday, January 10th. Finally, Redburn Partners cut their target price on 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 given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Amgen currently has an average rating of “Hold” and a consensus target price of $314.09.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,589 shares of the business’s stock in a transaction 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 completion of the transaction, the senior vice president now owns 7,210 shares in the company, valued at approximately $2,195,228.70. The trade was a 18.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jonathan P. Graham sold 25,045 shares of the 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 completion of the transaction, the executive vice president now directly owns 28,987 shares of the company’s stock, valued at approximately $8,496,669.44. The trade was a 46.35 % decrease in their position. The disclosure for this sale can be found here. 0.69% of the stock is currently owned by company insiders.

Amgen Stock Down 0.5 %

NASDAQ:AMGN opened at $295.06 on Thursday. The company has a current ratio of 1.26, a quick ratio of 0.96 and a debt-to-equity ratio of 9.62. The stock has a 50 day moving average of $272.96 and a 200-day moving average of $302.23. The firm has a market capitalization of $158.60 billion, a PE ratio of 39.08, a price-to-earnings-growth ratio of 3.01 and a beta of 0.56. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, topping analysts’ consensus estimates of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. Analysts predict that Amgen Inc. will post 20.59 EPS for the current year.

Amgen Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be given a $2.38 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a yield of 3.23%. Amgen’s dividend payout ratio (DPR) is currently 119.21%.

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.