Mainstream Capital Management LLC Makes New Investment in Amgen Inc. (NASDAQ:AMGN)

Mainstream Capital Management LLC acquired a new position in shares of Amgen Inc. (NASDAQ:AMGN) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 182 shares of the medical research company’s stock, valued at approximately $47,000.

A number of other large investors have also recently bought and sold shares of AMGN. Lansing Street Advisors increased its stake in shares of Amgen by 1.3% in the 3rd quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock valued at $832,000 after acquiring an additional 32 shares in the last quarter. Unionview LLC lifted its position in Amgen by 3.8% in the 3rd quarter. Unionview LLC now owns 876 shares of the medical research company’s stock valued at $282,000 after acquiring an additional 32 shares in the last quarter. Avidian Wealth Enterprises LLC boosted its position in shares of Amgen by 0.6% during the third quarter. Avidian Wealth Enterprises LLC now owns 5,863 shares of the medical research company’s stock valued at $1,889,000 after buying an additional 33 shares during the last quarter. Beacon Financial Advisory LLC boosted its holdings in Amgen by 4.6% during the 3rd quarter. Beacon Financial Advisory LLC now owns 769 shares of the medical research company’s stock worth $248,000 after acquiring an additional 34 shares during the last quarter. Finally, Semus Wealth Partners LLC grew its position in Amgen by 2.3% in the 3rd quarter. Semus Wealth Partners LLC now owns 1,531 shares of the medical research company’s stock worth $493,000 after purchasing an additional 35 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on AMGN. Royal Bank of Canada restated an “outperform” rating and issued a $324.00 price objective on shares of Amgen in a research note on Friday, January 24th. UBS Group restated a “hold” rating on shares of Amgen in a research report on Wednesday, February 12th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Amgen in a research note on Wednesday, February 5th. Piper Sandler boosted their target price on Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Finally, Piper Sandler Companies reissued an “overweight” rating and issued a $310.00 price target on shares of Amgen in a report on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $314.09.

Amgen Trading Up 0.9 %

NASDAQ AMGN opened at $310.78 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The firm has a market capitalization of $166.95 billion, a PE ratio of 41.16, a P/E/G ratio of 2.63 and a beta of 0.56. The stock’s 50 day moving average is $281.80 and its 200 day moving average is $299.73. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85.

Amgen (NASDAQ:AMGN) last announced 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 net margin of 12.24% and a return on equity of 176.32%. Research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be issued a dividend of $2.38 per share. This is a boost from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.06%. Amgen’s dividend payout ratio is presently 126.09%.

Insiders Place Their Bets

In other news, EVP Murdo Gordon sold 8,771 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $294.79, for a total value of $2,585,603.09. Following the transaction, the executive vice president now owns 44,186 shares in the company, valued at $13,025,590.94. This represents a 16.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP David M. Reese sold 25,225 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the completion of the transaction, the executive vice president now owns 36,922 shares in the company, valued at $11,240,533.68. The trade was a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,341 shares of company stock valued at $20,644,335. Corporate insiders own 0.69% of the company’s stock.

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.