Integrity Wealth Advisors Inc. Takes $977,000 Position in Amgen Inc. (NASDAQ:AMGN)

Integrity Wealth Advisors Inc. acquired a new stake in Amgen Inc. (NASDAQ:AMGN) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 3,750 shares of the medical research company’s stock, valued at approximately $977,000. Amgen accounts for about 0.7% of Integrity Wealth Advisors Inc.’s investment portfolio, making the stock its 21st largest holding.

Other hedge funds also recently made changes to their positions in the company. Virtu Financial LLC bought a new stake in Amgen during the third quarter worth about $1,588,000. Morse Asset Management Inc acquired a new position in Amgen during the third quarter valued at approximately $806,000. Tudor Financial Inc. acquired a new stake in shares of Amgen in the 3rd quarter valued at $3,281,000. World Investment Advisors LLC increased its stake in shares of Amgen by 48.4% in the 3rd quarter. World Investment Advisors LLC now owns 11,083 shares of the medical research company’s stock valued at $3,571,000 after purchasing an additional 3,616 shares during the last quarter. Finally, Arvest Bank Trust Division bought a new stake in shares of Amgen during the 3rd quarter worth $408,000. 76.50% of the stock is owned by institutional investors.

Amgen Stock Performance

Shares of Amgen stock opened at $293.92 on Tuesday. The company has a market cap of $158.03 billion, a PE ratio of 38.93, a price-to-earnings-growth ratio of 2.63 and a beta of 0.59. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The business has a 50 day moving average price of $304.05 and a 200-day moving average price of $294.91.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, beating 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 anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be issued a $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 3.24%. The ex-dividend date is Friday, May 16th. Amgen’s dividend payout ratio is presently 126.09%.

Insider Activity at Amgen

In other news, EVP David M. Reese sold 8,711 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $293.22, for a total transaction of $2,554,239.42. Following the completion of the sale, the executive vice president now directly owns 62,147 shares of the company’s stock, valued at $18,222,743.34. This trade represents a 12.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Murdo Gordon sold 8,771 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $294.79, for a total transaction of $2,585,603.09. Following the completion of the transaction, the executive vice president now directly owns 44,186 shares in the company, valued at $13,025,590.94. This trade represents a 16.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 69,341 shares of company stock valued at $20,644,335. 0.69% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on AMGN shares. Morgan Stanley increased their target price on shares of Amgen from $328.00 to $330.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 9th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Amgen in a report on Wednesday, February 5th. Truist Financial lowered their target price on Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. 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, Bank of America boosted their target price on shares of Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a report on Wednesday, March 5th. Two 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $314.91.

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.