BI Asset Management Fondsmaeglerselskab A S Invests $7.76 Million in Amgen Inc. (NASDAQ:AMGN)

BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Amgen Inc. (NASDAQ:AMGN) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 29,754 shares of the medical research company’s stock, valued at approximately $7,755,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Centricity Wealth Management LLC purchased a new stake in Amgen during the 4th quarter valued at $25,000. Ritter Daniher Financial Advisory LLC DE raised its position in Amgen by 66.2% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock worth $33,000 after buying an additional 51 shares during the last quarter. Synergy Investment Management LLC bought a new position in Amgen during the 4th quarter valued at about $34,000. Atala Financial Inc bought a new stake in shares of Amgen in the fourth quarter worth approximately $34,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of Amgen during the fourth quarter valued at approximately $36,000. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

NASDAQ AMGN opened at $277.29 on Friday. The stock has a market capitalization of $149.09 billion, a PE ratio of 36.73, a P/E/G ratio of 2.63 and a beta of 0.59. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The business has a 50 day simple moving average of $303.04 and a two-hundred day simple moving average of $294.04. 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 announced its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share 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%. On average, research analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be paid a dividend of $2.38 per share. The ex-dividend date is Friday, May 16th. This represents a $9.52 annualized dividend and a yield of 3.43%. Amgen’s payout ratio is currently 126.09%.

Insider Buying and Selling at Amgen

In other news, EVP David M. Reese sold 25,225 shares of the 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 sale, the executive vice president now owns 36,922 shares of the company’s stock, valued at approximately $11,240,533.68. This represents a 40.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total transaction of $483,802.83. Following the transaction, the senior vice president now owns 7,210 shares in the company, valued at $2,195,228.70. The trade was a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,341 shares of company stock worth $20,644,335 over the last ninety days. Company insiders own 0.69% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on AMGN. Wells Fargo & Company reissued an “equal weight” rating on shares of Amgen in a report on Wednesday, February 5th. Morgan Stanley increased their price objective on shares of Amgen from $328.00 to $330.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 9th. Citigroup restated a “neutral” rating on shares of Amgen in a research report on Wednesday, February 5th. Royal Bank of Canada reiterated an “outperform” rating and set a $324.00 price target on shares of Amgen in a research note on Friday, January 24th. Finally, Truist Financial lowered their target price on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $314.91.

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.