Potomac Fund Management Inc. ADV Invests $483,000 in Amgen Inc. (NASDAQ:AMGN)

Potomac Fund Management Inc. ADV acquired a new position in Amgen Inc. (NASDAQ:AMGN) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,854 shares of the medical research company’s stock, valued at approximately $483,000.

Several other large investors also recently added to or reduced their stakes in the business. Trexquant Investment LP lifted its position in Amgen by 5,813.3% during the fourth quarter. Trexquant Investment LP now owns 134,705 shares of the medical research company’s stock valued at $35,110,000 after purchasing an additional 132,427 shares during the last quarter. May Hill Capital LLC purchased a new stake in shares of Amgen during the 4th quarter valued at $327,000. Lokken Investment Group LLC lifted its holdings in shares of Amgen by 2.1% during the 4th quarter. Lokken Investment Group LLC now owns 4,121 shares of the medical research company’s stock worth $1,074,000 after acquiring an additional 85 shares during the last quarter. Geode Capital Management LLC grew its position in Amgen by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 12,475,032 shares of the medical research company’s stock worth $3,245,881,000 after acquiring an additional 352,143 shares in the last quarter. Finally, StoneX Group Inc. increased its stake in Amgen by 46.2% in the fourth quarter. StoneX Group Inc. now owns 18,460 shares of the medical research company’s stock valued at $4,811,000 after acquiring an additional 5,836 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Trading Down 1.5 %

NASDAQ:AMGN opened at $306.92 on Wednesday. The company has a 50-day moving average price of $302.51 and a 200-day moving average price of $297.63. The stock has a market cap of $164.88 billion, a price-to-earnings ratio of 40.65, a P/E/G ratio of 2.63 and a beta of 0.53. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 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%. Equities analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors 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 annualized dividend and a dividend yield of 3.10%. Amgen’s dividend payout ratio is presently 126.09%.

Analysts Set New Price Targets

Several brokerages have issued reports on AMGN. Citigroup reaffirmed a “neutral” rating on shares of Amgen in a research note on Wednesday, February 5th. Truist Financial cut their target price on Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Johnson Rice set a $294.00 price target on shares of Amgen in a research note on Wednesday, March 5th. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $310.00 price objective on shares of Amgen in a research note on Thursday, January 2nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $324.00 target price on shares of Amgen in a research report on Friday, January 24th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amgen presently has an average rating of “Moderate Buy” and an average price target of $314.04.

Insider Buying and Selling

In related news, EVP Jonathan P. Graham sold 25,045 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now 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 legal filing with the SEC, which is available at this link. Also, EVP David M. Reese sold 8,711 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $293.22, for a total transaction of $2,554,239.42. Following the transaction, the executive vice president now directly owns 62,147 shares of the company’s stock, valued at $18,222,743.34. This represents a 12.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,341 shares of company stock valued at $20,644,335 over the last ninety days. Company insiders own 0.69% of the company’s stock.

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.