Edgestream Partners L.P. Invests $9.76 Million in Amgen Inc. (NASDAQ:AMGN)

Edgestream Partners L.P. acquired a new stake in Amgen Inc. (NASDAQ:AMGN) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 37,432 shares of the medical research company’s stock, valued at approximately $9,756,000. Amgen comprises approximately 0.4% of Edgestream Partners L.P.’s portfolio, making the stock its 14th largest position.

Several other hedge funds have also recently added to or reduced their stakes in the business. Capital Performance Advisors LLP acquired a new stake in shares of Amgen in the third quarter valued at approximately $25,000. Centricity Wealth Management LLC acquired a new position in shares of Amgen during the 4th quarter worth approximately $25,000. Legacy Investment Solutions LLC purchased a new stake in Amgen in the 3rd quarter valued at approximately $29,000. Synergy Investment Management LLC acquired a new stake in Amgen during the 4th quarter valued at $34,000. Finally, Heck Capital Advisors LLC purchased a new position in Amgen during the fourth quarter worth $36,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Trading Up 0.4 %

NASDAQ AMGN opened at $317.82 on Friday. The firm has a market capitalization of $170.73 billion, a price-to-earnings ratio of 42.10, a PEG ratio of 2.63 and a beta of 0.56. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The company’s 50 day moving average price is $284.89 and its 200 day moving average price is $299.91.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS 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%. On average, sell-side analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be issued a dividend of $2.38 per share. The ex-dividend date is Friday, May 16th. This represents a $9.52 annualized dividend and a dividend yield of 3.00%. Amgen’s payout ratio is currently 126.09%.

Analyst Ratings Changes

Several brokerages have recently issued reports on AMGN. Redburn Partners reduced their price objective on Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Piper Sandler upped their target price on shares of Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a report on Monday, February 10th. UBS Group reaffirmed a “hold” rating on shares of Amgen in a research note on Wednesday, February 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $324.00 price objective on shares of Amgen in a research report on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. 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 given a strong buy rating to the stock. According to MarketBeat.com, Amgen has an average rating of “Hold” and an average price target of $314.95.

Insider Activity at Amgen

In related news, EVP Jonathan P. Graham sold 25,045 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 28,987 shares of the company’s stock, valued at approximately $8,496,669.44. This trade represents a 46.35 % decrease in their position. 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 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 sale, the senior vice president now directly owns 7,210 shares in the company, valued at $2,195,228.70. This trade represents a 18.06 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,341 shares of company stock worth $20,644,335. 0.69% of the stock is currently owned by company insiders.

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.