Bank of Jackson Hole Trust Takes $50,000 Position in Amgen Inc. (NASDAQ:AMGN)

Bank of Jackson Hole Trust purchased a new stake in shares of Amgen Inc. (NASDAQ:AMGN) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 192 shares of the medical research company’s stock, valued at approximately $50,000.

A number of other large investors also recently bought and sold shares of the stock. New York State Common Retirement Fund lifted its position in Amgen by 0.3% in the fourth quarter. New York State Common Retirement Fund now owns 673,079 shares of the medical research company’s stock valued at $175,431,000 after buying an additional 2,084 shares during the last quarter. Prossimo Advisors LLC increased its stake in Amgen by 27.3% during the fourth quarter. Prossimo Advisors LLC now owns 2,054 shares of the medical research company’s stock worth $535,000 after purchasing an additional 440 shares during the period. Mcdonald Partners LLC increased its stake in Amgen by 2.2% during the fourth quarter. Mcdonald Partners LLC now owns 21,266 shares of the medical research company’s stock worth $5,543,000 after purchasing an additional 464 shares during the period. Kentucky Retirement Systems Insurance Trust Fund increased its stake in Amgen by 67.9% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 26,706 shares of the medical research company’s stock worth $6,961,000 after purchasing an additional 10,797 shares during the period. Finally, Valley Wealth Managers Inc. increased its stake in Amgen by 4.3% during the fourth quarter. Valley Wealth Managers Inc. now owns 80,604 shares of the medical research company’s stock worth $21,009,000 after purchasing an additional 3,306 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,589 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total value of $483,802.83. Following the completion of the sale, the senior vice president now owns 7,210 shares of the company’s stock, valued at approximately $2,195,228.70. This trade represents a 18.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jonathan P. Graham sold 25,045 shares of the firm’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 sale, the executive vice president now directly owns 28,987 shares of the company’s stock, valued at approximately $8,496,669.44. This trade represents a 46.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,405 shares of company stock valued at $10,410,596 over the last three months. 0.69% of the stock is currently owned by company insiders.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $297.93 on Friday. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. The stock has a fifty day moving average price of $275.62 and a 200 day moving average price of $300.75. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The company has a market cap of $160.05 billion, a PE ratio of 39.46, a P/E/G ratio of 2.54 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last issued 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 return on equity of 176.32% and a net margin of 12.24%. Sell-side analysts forecast that Amgen Inc. will post 20.6 EPS for the current year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be issued a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a dividend yield of 3.20%. Amgen’s dividend payout ratio (DPR) is currently 126.09%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on AMGN shares. Piper Sandler Companies reiterated an “overweight” rating and set a $310.00 price target on shares of Amgen in a research note on Thursday, January 2nd. Truist Financial cut their target price on shares of Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Bank of America upped their target price on shares of Amgen from $256.00 to $275.00 and gave the stock an “underperform” rating in a research note on Thursday, February 6th. Citigroup cut their target price on shares of Amgen from $310.00 to $295.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 28th. Finally, Piper Sandler upped their target price on shares of Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $314.09.

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.