Fortress Financial Group LLC Purchases Shares of 2,910 Amgen Inc. (NASDAQ:AMGN)

Fortress Financial Group LLC acquired a new position in Amgen Inc. (NASDAQ:AMGN) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,910 shares of the medical research company’s stock, valued at approximately $758,000. Amgen makes up 0.8% of Fortress Financial Group LLC’s investment portfolio, making the stock its 26th biggest holding.

Several other institutional investors have also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new position in Amgen during the third quarter valued at approximately $25,000. Centricity Wealth Management LLC purchased a new stake in shares of Amgen in the 4th quarter valued at $25,000. Legacy Investment Solutions LLC bought a new position in shares of Amgen during the 3rd quarter valued at $29,000. Heck Capital Advisors LLC purchased a new position in Amgen in the 4th quarter worth $36,000. Finally, PrairieView Partners LLC lifted its stake in Amgen by 118.3% in the fourth quarter. PrairieView Partners LLC now owns 179 shares of the medical research company’s stock worth $46,000 after purchasing an additional 97 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AMGN. Truist Financial reduced their price objective on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Citigroup restated a “neutral” rating on shares of Amgen in a research report on Wednesday, February 5th. Piper Sandler lifted their price target on Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a research note 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. Finally, Bank of America lifted their target price on shares of Amgen from $256.00 to $275.00 and gave the stock an “underperform” rating in a research note on Thursday, February 6th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Amgen presently has a consensus rating of “Hold” and a consensus price target of $314.09.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $305.82 on Friday. The company has a market capitalization of $164.29 billion, a PE ratio of 40.51, a PEG ratio of 2.63 and a beta of 0.56. The business has a fifty day moving average price of $279.97 and a 200-day moving average price of $300.24. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. As a group, equities analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Increases Dividend

The firm also recently disclosed 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 a boost from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a yield of 3.11%. Amgen’s dividend payout ratio is 126.09%.

Insider Buying and Selling at Amgen

In other news, EVP Jonathan P. Graham sold 25,045 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 28,987 shares of the company’s stock, valued at $8,496,669.44. The trade was a 46.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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. In the last three months, insiders have sold 69,341 shares of company stock worth $20,644,335. Insiders own 0.69% of the company’s stock.

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.