Nutshell Asset Management Ltd Acquires Shares of 10,600 Amgen Inc. (NASDAQ:AMGN)

Nutshell Asset Management Ltd purchased a new stake in shares of Amgen Inc. (NASDAQ:AMGN) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 10,600 shares of the medical research company’s stock, valued at approximately $2,763,000. Amgen makes up 1.7% of Nutshell Asset Management Ltd’s holdings, making the stock its 18th biggest holding.

A number of other large investors have also added to or reduced their stakes in AMGN. Legacy Investment Solutions LLC purchased a new position in Amgen during the third quarter worth $29,000. Centricity Wealth Management LLC purchased a new position in shares of Amgen during the 4th quarter worth about $25,000. Synergy Investment Management LLC purchased a new stake in Amgen in the 4th quarter worth about $34,000. Atala Financial Inc purchased a new position in shares of Amgen during the fourth quarter valued at approximately $34,000. Finally, Heck Capital Advisors LLC bought a new position in Amgen in the 4th quarter valued at $36,000. Institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Piper Sandler Companies restated an “overweight” rating and set a $310.00 price target on shares of Amgen in a research note on Thursday, January 2nd. Citigroup reissued a “neutral” rating on shares of Amgen in a report on Wednesday, February 5th. UBS Group restated a “hold” rating on shares of Amgen in a report on Wednesday, February 12th. Truist Financial reduced their price target on Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Finally, Piper Sandler lifted their target price on Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $314.04.

Amgen Stock Performance

AMGN opened at $294.39 on Friday. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. 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 price is $304.18 and its 200 day moving average price is $297.49. The firm has a market capitalization of $158.15 billion, a PE ratio of 38.99, a PEG ratio of 2.63 and a beta of 0.53.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data 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, sell-side analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be given a $2.38 dividend. The ex-dividend date is Friday, May 16th. This represents a $9.52 annualized dividend and a yield of 3.23%. Amgen’s payout ratio is 126.09%.

Insider Buying and Selling

In other Amgen news, EVP Jonathan P. Graham sold 25,045 shares of the business’s stock in a transaction that occurred 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Murdo Gordon sold 8,771 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $294.79, for a total value of $2,585,603.09. Following the completion of the sale, the executive vice president now owns 44,186 shares in the company, valued at $13,025,590.94. This represents a 16.56 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 69,341 shares of company stock worth $20,644,335. 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.