Parvin Asset Management LLC Invests $1.46 Million in Amgen Inc. (NASDAQ:AMGN)

Parvin Asset Management LLC purchased a new position in shares of Amgen Inc. (NASDAQ:AMGN) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 5,585 shares of the medical research company’s stock, valued at approximately $1,456,000. Amgen comprises 1.5% of Parvin Asset Management LLC’s investment portfolio, making the stock its 11th biggest position.

Other hedge funds also recently modified their holdings of the company. Centricity Wealth Management LLC bought a new stake in shares of Amgen in the 4th quarter worth approximately $25,000. Ritter Daniher Financial Advisory LLC DE increased its holdings 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 valued at $33,000 after buying an additional 51 shares during the period. Synergy Investment Management LLC bought a new stake in Amgen in the 4th quarter valued at $34,000. Atala Financial Inc bought a new stake in Amgen in the 4th quarter valued at $34,000. Finally, Heck Capital Advisors LLC bought a new stake in Amgen in the 4th quarter valued at $36,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Johnson Rice set a $294.00 price target on shares of Amgen in a report on Wednesday, March 5th. Truist Financial lowered their price target on shares of Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $324.00 price target on shares of Amgen in a report on Friday, January 24th. Cantor Fitzgerald assumed coverage on shares of Amgen in a report on Tuesday, April 22nd. They issued a “neutral” rating and a $305.00 price target on the stock. Finally, Citigroup restated a “neutral” rating on shares of Amgen in a research note on Wednesday, February 5th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $310.57.

Insider Activity

In other Amgen news, SVP Nancy A. Grygiel sold 1,589 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total value of $483,802.83. Following the transaction, the senior vice president now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jonathan P. Graham sold 25,045 shares of the company’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 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 a total of 69,341 shares of company stock worth $20,644,335 over the last quarter. Insiders own 0.69% of the company’s stock.

Amgen Stock Up 1.9 %

Amgen stock opened at $288.56 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The firm’s fifty day moving average is $301.10 and its 200 day moving average is $292.08. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The company has a market capitalization of $155.14 billion, a PE ratio of 38.22, a PEG ratio of 2.63 and a beta of 0.59.

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

Amgen Announces Dividend

The company 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. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 annualized dividend and a dividend yield of 3.30%. Amgen’s dividend payout ratio is currently 126.09%.

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.