Stokes Family Office LLC Buys 2,218 Shares of Amgen Inc. (NASDAQ:AMGN)

Stokes Family Office LLC lifted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 117.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,104 shares of the medical research company’s stock after purchasing an additional 2,218 shares during the quarter. Stokes Family Office LLC’s holdings in Amgen were worth $1,070,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Centricity Wealth Management LLC purchased a new position in Amgen during the fourth quarter worth about $25,000. Legacy Investment Solutions LLC purchased a new position in Amgen during the third quarter worth about $29,000. Synergy Investment Management LLC purchased a new position in Amgen during the fourth quarter worth about $34,000. Atala Financial Inc purchased a new position in Amgen during the fourth quarter worth about $34,000. Finally, Heck Capital Advisors LLC purchased a new position in Amgen during the fourth quarter worth about $36,000. 76.50% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Jonathan P. Graham sold 25,045 shares of Amgen stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 28,987 shares in the company, valued at approximately $8,496,669.44. This trade represents a 46.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP David M. Reese sold 25,225 shares of Amgen stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $304.44, for a total value of $7,679,499.00. Following the completion of the transaction, the executive vice president now owns 36,922 shares of the company’s stock, valued at approximately $11,240,533.68. This represents a 40.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,341 shares of company stock worth $20,644,335 over the last 90 days. Corporate insiders own 0.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Leerink Partners reduced their target price on Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft cut their price objective on Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. UBS Group reiterated a “hold” rating on shares of Amgen in a report on Wednesday, February 12th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Amgen in a report on Wednesday, February 5th. Finally, Bank of America upped their price objective on Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $314.04.

Amgen Price Performance

NASDAQ:AMGN opened at $318.65 on Wednesday. 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 business’s 50-day simple moving average is $294.12 and its two-hundred day simple moving average is $298.91. The stock has a market cap of $171.18 billion, a PE ratio of 42.21, a P/E/G ratio of 2.63 and a beta of 0.53. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85.

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 return on equity of 176.32% and a net margin of 12.24%. As a group, analysts forecast that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be given a dividend of $2.38 per share. The ex-dividend date is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 2.99%. Amgen’s payout ratio is 126.09%.

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.