Rehmann Capital Advisory Group Raises Position in Amgen Inc. (NASDAQ:AMGN)

Rehmann Capital Advisory Group boosted its position in Amgen Inc. (NASDAQ:AMGN) by 1.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 8,471 shares of the medical research company’s stock after purchasing an additional 109 shares during the period. Rehmann Capital Advisory Group’s holdings in Amgen were worth $2,208,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of AMGN. Capital World Investors increased its holdings in Amgen by 1,292.0% in the 4th quarter. Capital World Investors now owns 6,495,710 shares of the medical research company’s stock worth $1,693,042,000 after acquiring an additional 6,029,058 shares during the last quarter. Norges Bank purchased a new position in shares of Amgen in the fourth quarter worth about $1,541,991,000. Capital International Investors raised its position in shares of Amgen by 40.1% in the fourth quarter. Capital International Investors now owns 12,212,065 shares of the medical research company’s stock valued at $3,182,843,000 after purchasing an additional 3,495,503 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Amgen by 25.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company’s stock valued at $3,441,909,000 after buying an additional 2,672,975 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Amgen in the 4th quarter worth approximately $401,913,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Trading Up 1.9 %

NASDAQ AMGN opened at $288.56 on Wednesday. The firm has a market cap of $155.14 billion, a PE ratio of 38.22, a price-to-earnings-growth 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 stock has a 50-day moving average of $301.10 and a 200-day moving average of $292.08. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62.

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 the consensus estimate of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. As a group, sell-side analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be issued a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date is Friday, May 16th. Amgen’s dividend payout ratio (DPR) is presently 126.09%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. UBS Group boosted their target price on shares of Amgen from $315.00 to $319.00 and gave the company a “neutral” rating in a report on Monday, April 14th. Johnson Rice set a $294.00 price objective on Amgen in a report on Wednesday, March 5th. Truist Financial reduced 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. Morgan Stanley increased their price target 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. Finally, Bank of America boosted their price objective on shares of Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a research note on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $310.57.

Insider Buying and Selling at Amgen

In other news, EVP Murdo Gordon sold 8,771 shares of Amgen stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $294.79, for a total value of $2,585,603.09. Following the sale, the executive vice president now directly owns 44,186 shares in the company, valued at approximately $13,025,590.94. This trade represents a 16.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Nancy A. Grygiel sold 1,589 shares of the company’s stock in a transaction that occurred on 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 owns 7,210 shares of the company’s stock, valued at approximately $2,195,228.70. This represents a 18.06 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,341 shares of company stock worth $20,644,335. 0.69% of the stock is currently owned by company insiders.

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.