Prossimo Advisors LLC Buys 440 Shares of Amgen Inc. (NASDAQ:AMGN)

Prossimo Advisors LLC boosted its stake in Amgen Inc. (NASDAQ:AMGN) by 27.3% during the 4th quarter, Holdings Channel reports. The firm owned 2,054 shares of the medical research company’s stock after buying an additional 440 shares during the quarter. Prossimo Advisors LLC’s holdings in Amgen were worth $535,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Capital Performance Advisors LLP purchased a new stake in shares of Amgen in the third quarter worth about $25,000. Legacy Investment Solutions LLC bought a new stake in Amgen in the 3rd quarter worth approximately $29,000. Heck Capital Advisors LLC purchased a new stake in shares of Amgen during the 4th quarter worth approximately $36,000. Kennebec Savings Bank bought a new position in shares of Amgen during the 3rd quarter valued at approximately $57,000. Finally, PrairieView Partners LLC grew its holdings in shares of Amgen by 118.3% in the fourth quarter. PrairieView Partners LLC now owns 179 shares of the medical research company’s stock valued at $46,000 after purchasing an additional 97 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Jonathan P. Graham sold 25,045 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $293.12, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of Amgen stock in a transaction that occurred on Wednesday, February 5th. The shares were 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 in the company, valued at approximately $2,195,228.70. The trade was a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,405 shares of company stock worth $10,410,596 in the last three months. Corporate insiders own 0.69% of the company’s stock.

Analysts Set New Price Targets

AMGN has been the topic of a number of recent research reports. Redburn Partners decreased their price target on shares of Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Piper Sandler increased their price target on shares of Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Cantor Fitzgerald reissued an “overweight” rating and set a $405.00 price objective on shares of Amgen in a research note on Tuesday, October 22nd. Bank of America raised their price objective on Amgen from $256.00 to $275.00 and gave the company an “underperform” rating in a research note on Thursday, February 6th. Finally, Leerink Partners cut their target price on Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $314.09.

Amgen Stock Performance

Amgen stock opened at $292.80 on Wednesday. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.96 and a current ratio of 1.26. The company has a market capitalization of $157.39 billion, a PE ratio of 38.78, a P/E/G ratio of 3.01 and a beta of 0.56. The company has a 50 day moving average price of $274.73 and a 200-day moving average price of $300.81. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, beating 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%. As a group, equities analysts forecast that Amgen Inc. will post 20.59 earnings per share for the current year.

Amgen Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be paid a $2.38 dividend. The ex-dividend date is Friday, February 14th. This is a positive change from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 dividend on an annualized basis and a yield of 3.25%. Amgen’s dividend payout ratio is 119.21%.

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.