EntryPoint Capital LLC Purchases New Stake in Amgen Inc. (NASDAQ:AMGN)

EntryPoint Capital LLC acquired a new position in shares of Amgen Inc. (NASDAQ:AMGN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,086 shares of the medical research company’s stock, valued at approximately $804,000. Amgen comprises approximately 0.3% of EntryPoint Capital LLC’s holdings, making the stock its 11th largest position.

A number of other large investors have also recently made changes to their positions in the business. Centricity Wealth Management LLC bought a new position in Amgen in the 4th quarter valued at about $25,000. Legacy Investment Solutions LLC purchased a new stake in shares of Amgen in the third quarter worth approximately $29,000. Synergy Investment Management LLC purchased a new stake in Amgen in the 4th quarter valued at $34,000. Atala Financial Inc bought a new position in Amgen during the 4th quarter valued at $34,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of Amgen in the 4th quarter worth $36,000. 76.50% of the stock is owned by institutional investors.

Amgen Stock Performance

AMGN stock opened at $314.38 on Tuesday. The stock’s fifty day moving average price is $298.13 and its 200-day moving average price is $298.50. The company has a market cap of $168.89 billion, a P/E ratio of 41.64, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53. 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 released its earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, topping 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 analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The company also recently announced 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 3.03%. Amgen’s dividend payout ratio is currently 126.09%.

Insiders Place Their Bets

In other news, EVP Jonathan P. Graham sold 25,045 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were 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 approximately $8,496,669.44. This represents a 46.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP David M. Reese sold 25,225 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $304.44, for a total value of $7,679,499.00. Following the transaction, the executive vice president now owns 36,922 shares in the company, 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 69,341 shares of company stock valued at $20,644,335 in the last three months. Corporate insiders own 0.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AMGN. Truist Financial cut their price target on shares of Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Piper Sandler Companies reaffirmed an “overweight” rating and set a $310.00 price target on shares of Amgen in a research report on Thursday, January 2nd. 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. Citigroup reaffirmed a “neutral” rating on shares of Amgen in a research report on Wednesday, February 5th. Finally, Piper Sandler boosted their price target on shares of Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Two research 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 company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $314.04.

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.