Insight Inv LLC Buys 385 Shares of Amgen Inc. (NASDAQ:AMGN)

Insight Inv LLC increased its stake in Amgen Inc. (NASDAQ:AMGN) by 5.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,541 shares of the medical research company’s stock after purchasing an additional 385 shares during the quarter. Insight Inv LLC’s holdings in Amgen were worth $1,965,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. State Street Corp increased its stake in shares of Amgen by 1.2% in the third quarter. State Street Corp now owns 29,317,018 shares of the medical research company’s stock worth $9,446,236,000 after purchasing an additional 345,537 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Amgen by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 12,122,889 shares of the medical research company’s stock valued at $3,893,771,000 after buying an additional 103,851 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Amgen by 2.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,532,629 shares of the medical research company’s stock worth $3,393,718,000 after buying an additional 251,876 shares during the period. Janus Henderson Group PLC grew its stake in Amgen by 11.7% in the 3rd quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock valued at $1,657,183,000 after buying an additional 538,545 shares in the last quarter. Finally, Pathway Financial Advisers LLC lifted its position in shares of Amgen by 33,125.4% during the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock worth $1,437,115,000 after acquiring an additional 4,446,757 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Trading Down 0.9 %

Shares of AMGN opened at $275.42 on Friday. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The firm has a market cap of $148.05 billion, a price-to-earnings ratio of 35.27, a PEG ratio of 2.78 and a beta of 0.56. The firm has a 50 day moving average price of $271.39 and a 200-day moving average price of $305.99. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. During the same period in the previous year, the firm posted $4.96 earnings per share. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. As a group, equities research analysts forecast that Amgen Inc. will post 19.56 earnings per share for the current year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be given a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.46%. This is a positive change from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft reduced their price target on Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Truist Financial reduced their target price on Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. TD Cowen increased their price target on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Citigroup decreased their target price on shares of Amgen from $335.00 to $310.00 in a report on Wednesday, November 27th. Finally, William Blair reissued an “outperform” rating on shares of Amgen in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $314.65.

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.