5,793 Shares in Amgen Inc. (NASDAQ:AMGN) Bought by ABC Arbitrage SA

ABC Arbitrage SA bought a new position in Amgen Inc. (NASDAQ:AMGN) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 5,793 shares of the medical research company’s stock, valued at approximately $1,510,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Pathway Financial Advisers LLC boosted its position in 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 valued at $1,437,115,000 after buying an additional 4,446,757 shares during the period. International Assets Investment Management LLC boosted its position in Amgen by 6,812.4% during the third quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock valued at $8,130,610,000 after buying an additional 2,486,882 shares during the period. Assenagon Asset Management S.A. boosted its position in Amgen by 561.5% during the third quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock valued at $496,117,000 after buying an additional 1,306,982 shares during the period. Van ECK Associates Corp boosted its position in Amgen by 263.8% during the fourth quarter. Van ECK Associates Corp now owns 1,038,593 shares of the medical research company’s stock valued at $270,699,000 after buying an additional 753,147 shares during the period. Finally, Nordea Investment Management AB boosted its position in Amgen by 40.7% during the fourth quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company’s stock valued at $609,526,000 after buying an additional 676,598 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Trading Down 2.0 %

NASDAQ:AMGN opened at $291.16 on Friday. The company’s 50 day moving average price is $273.75 and its 200-day moving average price is $302.14. 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 0.96, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The stock has a market cap of $156.51 billion, a price-to-earnings ratio of 38.56, a PEG ratio of 3.01 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last posted its quarterly 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, equities research analysts forecast that Amgen Inc. will post 20.59 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 of this dividend is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.27%. Amgen’s dividend payout ratio is presently 126.09%.

Insider Activity

In related news, EVP Murdo Gordon sold 8,771 shares of the firm’s 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 sale, the executive vice president now 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Nancy A. Grygiel sold 1,589 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 7,210 shares in the company, valued at $2,195,228.70. This represents a 18.06 % decrease in their position. 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 over the last 90 days. 0.69% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

AMGN has been the subject of several recent analyst reports. StockNews.com downgraded shares of Amgen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. Bank of America upped their price objective on shares of Amgen from $256.00 to $275.00 and gave the company an “underperform” rating in a research note on Thursday, February 6th. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 price objective on shares of Amgen in a research note on Tuesday, November 12th. Piper Sandler upped their price objective on shares of Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Finally, Truist Financial lowered their price objective on shares of Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $314.09.

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.