Amgen Inc. (NASDAQ:AMGN) Shares Bought by Sunpointe LLC

Sunpointe LLC lifted its stake in Amgen Inc. (NASDAQ:AMGN) by 28.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,304 shares of the medical research company’s stock after purchasing an additional 288 shares during the quarter. Sunpointe LLC’s holdings in Amgen were worth $340,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in shares of Amgen in the 3rd quarter valued at approximately $25,000. Legacy Investment Solutions LLC acquired a new stake in Amgen in the third quarter valued at $29,000. Heck Capital Advisors LLC purchased a new stake in Amgen during the fourth quarter worth $36,000. PrairieView Partners LLC grew its position 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 during the last quarter. Finally, Bank of Jackson Hole Trust acquired a new position in shares of Amgen in the fourth quarter valued at approximately $50,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft reduced their price objective on Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. 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 report on Monday, February 10th. StockNews.com lowered Amgen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. Leerink Partners cut their target price on shares of Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. Finally, Wolfe Research began coverage on Amgen in a research note on Friday, November 15th. They issued a “peer perform” rating for the company. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $314.09.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $294.27 on Thursday. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The firm’s 50 day moving average is $275.15 and its two-hundred day moving average is $300.77. The firm has a market capitalization of $158.18 billion, a P/E ratio of 38.98, a PEG ratio of 2.53 and a beta of 0.56. Amgen Inc. has a 52 week low of $253.30 and a 52 week 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 the consensus estimate of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. Analysts anticipate that Amgen Inc. will post 20.6 earnings per share for the current year.

Amgen Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be issued a $2.38 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 annualized dividend and a yield of 3.24%. This is an increase from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio is presently 126.09%.

Insider Buying and Selling at Amgen

In related news, EVP Jonathan P. Graham sold 25,045 shares of Amgen stock in a transaction on Friday, February 7th. The stock was sold at an average price of $293.12, for a total value of $7,341,190.40. Following the transaction, the executive vice president now directly owns 28,987 shares in the company, valued at $8,496,669.44. The trade was a 46.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available 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 stock was sold at an average price of $304.47, for a total transaction of $483,802.83. Following the completion of the transaction, the senior vice president now directly owns 7,210 shares in the company, valued at approximately $2,195,228.70. This trade represents a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,405 shares of company stock valued at $10,410,596. Company insiders own 0.69% of the company’s stock.

Amgen Company 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.