Marshall Investment Management LLC Invests $1.55 Million in Amgen Inc. (NASDAQ:AMGN)

Marshall Investment Management LLC acquired a new position in Amgen Inc. (NASDAQ:AMGN) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,936 shares of the medical research company’s stock, valued at approximately $1,547,000.

Several other institutional investors have also recently made changes to their positions in the business. Capital Performance Advisors LLP purchased a new stake in Amgen in the 3rd quarter worth approximately $25,000. Legacy Investment Solutions LLC purchased a new stake in Amgen in the 3rd quarter worth approximately $29,000. Centricity Wealth Management LLC purchased a new stake in Amgen in the 4th quarter worth approximately $25,000. Heck Capital Advisors LLC purchased a new stake in Amgen in the 4th quarter worth approximately $36,000. Finally, Kennebec Savings Bank purchased a new stake in Amgen in the 3rd quarter worth approximately $57,000. 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 Amgen 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 sale, the executive vice president now directly owns 44,186 shares in the company, valued at approximately $13,025,590.94. This trade represents a 16.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David M. Reese sold 8,711 shares of Amgen stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $293.22, for a total value of $2,554,239.42. Following the sale, the executive vice president now owns 62,147 shares of the company’s stock, valued at approximately $18,222,743.34. This trade represents a 12.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,341 shares of company stock worth $20,644,335 over the last three months. 0.69% of the stock is owned by insiders.

Analysts Set New Price Targets

AMGN has been the subject of several analyst reports. UBS Group reissued a “hold” rating on shares of Amgen in a report on Wednesday, February 12th. Piper Sandler increased their price objective on shares of Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Redburn Partners cut their price objective on shares of Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Piper Sandler Companies reaffirmed an “overweight” rating and set a $310.00 price objective on shares of Amgen in a report on Thursday, January 2nd. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 price objective on shares of Amgen in a report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $314.09.

Amgen Stock Up 1.7 %

Shares of AMGN opened at $303.01 on Friday. The company has a market cap of $162.78 billion, a PE ratio of 40.13, a P/E/G ratio of 2.58 and a beta of 0.56. The business has a fifty day moving average of $276.27 and a 200 day moving average of $300.40. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (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%. On average, sell-side analysts expect that Amgen Inc. will post 20.6 EPS 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 $2.38 dividend. The ex-dividend date is Friday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 dividend on an annualized basis and a yield of 3.14%. Amgen’s dividend payout ratio (DPR) is currently 126.09%.

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.