Burling Wealth Partners LLC Acquires New Shares in Amgen Inc. (NASDAQ:AMGN)

Burling Wealth Partners LLC bought a new position in shares of Amgen Inc. (NASDAQ:AMGN) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 929 shares of the medical research company’s stock, valued at approximately $242,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Beck Mack & Oliver LLC lifted its stake in Amgen by 0.7% during the fourth quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company’s stock worth $1,205,000 after purchasing an additional 34 shares during the last quarter. Blossom Wealth Management raised its holdings in shares of Amgen by 3.5% during the 4th quarter. Blossom Wealth Management now owns 1,090 shares of the medical research company’s stock valued at $284,000 after buying an additional 37 shares in the last quarter. Zullo Investment Group Inc. lifted its position in Amgen by 2.8% in the 4th quarter. Zullo Investment Group Inc. now owns 1,364 shares of the medical research company’s stock worth $356,000 after buying an additional 37 shares during the last quarter. Trillium Asset Management LLC boosted its stake in Amgen by 4.2% in the fourth quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company’s stock worth $237,000 after buying an additional 37 shares in the last quarter. Finally, Evermay Wealth Management LLC grew its position in Amgen by 1.5% during the fourth quarter. Evermay Wealth Management LLC now owns 2,650 shares of the medical research company’s stock valued at $691,000 after acquiring an additional 38 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AMGN. Piper Sandler upped their price objective on shares of Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Wells Fargo & Company restated an “equal weight” rating on shares of Amgen in a research report on Wednesday, February 5th. UBS Group lifted their price objective on Amgen from $315.00 to $319.00 and gave the stock a “neutral” rating in a report on Monday, April 14th. Citigroup restated a “neutral” rating on shares of Amgen in a report on Wednesday, February 5th. Finally, Piper Sandler Companies reiterated an “overweight” rating and issued a $310.00 price objective on shares of Amgen in a research report on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Amgen currently has a consensus rating of “Hold” and an average price target of $310.57.

Insider Transactions at Amgen

In other news, EVP David M. Reese sold 25,225 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was 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 directly owns 36,922 shares in the company, 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 filing with the SEC, which can be accessed through the SEC website. Also, EVP Jonathan P. Graham sold 25,045 shares of the company’s stock in a transaction 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 $8,496,669.44. This trade represents a 46.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 69,341 shares of company stock worth $20,644,335. 0.69% of the stock is currently owned by company insiders.

Amgen Stock Up 0.7 %

NASDAQ AMGN opened at $279.84 on Friday. The stock has a 50 day moving average price of $301.75 and a 200-day moving average price of $293.08. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. 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 company has a market capitalization of $150.46 billion, a P/E ratio of 37.06, a P/E/G ratio of 2.63 and a beta of 0.59.

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 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%. As a group, equities analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be paid a $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 3.40%. The ex-dividend date is Friday, May 16th. Amgen’s payout ratio is 126.09%.

Amgen Company 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.