Invesco Ltd. Increases Position in Amgen Inc. (NASDAQ:AMGN)

Invesco Ltd. raised its position in shares of Amgen Inc. (NASDAQ:AMGN) by 7.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,887,248 shares of the medical research company’s stock after acquiring an additional 270,135 shares during the period. Invesco Ltd. owned approximately 0.72% of Amgen worth $1,013,172,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in AMGN. Bank of Montreal Can lifted its stake in Amgen by 3.5% in the fourth quarter. Bank of Montreal Can now owns 1,344,419 shares of the medical research company’s stock valued at $350,409,000 after buying an additional 46,030 shares during the last quarter. Bell Asset Management Ltd lifted its position in shares of Amgen by 142.4% in the fourth quarter. Bell Asset Management Ltd now owns 18,743 shares of the medical research company’s stock worth $4,885,000 after purchasing an additional 11,010 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. grew its stake in shares of Amgen by 7.0% in the 4th quarter. Sumitomo Mitsui Financial Group Inc. now owns 55,868 shares of the medical research company’s stock valued at $14,561,000 after buying an additional 3,634 shares in the last quarter. Round Hill Asset Management increased its holdings in shares of Amgen by 1.0% during the 4th quarter. Round Hill Asset Management now owns 44,748 shares of the medical research company’s stock valued at $11,663,000 after acquiring an additional 429 shares during the last quarter. Finally, Ritter Daniher Financial Advisory LLC DE lifted its position in shares of Amgen by 66.2% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock worth $33,000 after purchasing an additional 51 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Amgen

In other Amgen news, 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 transaction of $7,679,499.00. Following the transaction, the executive vice president now directly owns 36,922 shares of the company’s stock, valued at approximately $11,240,533.68. This trade represents a 40.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 value of $7,341,190.40. Following the completion of the transaction, the executive vice president now directly owns 28,987 shares in the company, valued at approximately $8,496,669.44. The trade was a 46.35 % 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 over the last quarter. 0.69% of the stock is currently owned by insiders.

Amgen Trading Down 5.0 %

Shares of AMGN stock opened at $294.39 on Monday. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. 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. The stock has a fifty day simple moving average of $304.18 and a two-hundred day simple moving average of $296.99. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, beating 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, analysts predict 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. Stockholders of record on Friday, May 16th will be given a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s dividend payout ratio (DPR) is presently 126.09%.

Wall Street Analyst Weigh In

AMGN has been the subject of a number of recent research reports. Bank of America increased their target price on Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a report on Wednesday, March 5th. Truist Financial reduced their price objective on shares of Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $310.00 price target on shares of Amgen in a research note on Thursday, January 2nd. Piper Sandler lifted their target price on Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Finally, UBS Group restated a “hold” rating on shares of Amgen in a report on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.