Roxbury Financial LLC Makes New Investment in Amgen Inc. (NASDAQ:AMGN)

Roxbury Financial LLC acquired a new position in Amgen Inc. (NASDAQ:AMGN) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 2,021 shares of the medical research company’s stock, valued at approximately $572,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Lansing Street Advisors raised its stake in Amgen by 1.3% in the 3rd quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock worth $832,000 after purchasing an additional 32 shares in the last quarter. Unionview LLC raised its stake in Amgen by 3.8% in the 3rd quarter. Unionview LLC now owns 876 shares of the medical research company’s stock worth $282,000 after purchasing an additional 32 shares in the last quarter. AM Investment Strategies LLC raised its stake in Amgen by 0.4% in the 3rd quarter. AM Investment Strategies LLC now owns 7,471 shares of the medical research company’s stock worth $2,407,000 after purchasing an additional 33 shares in the last quarter. Avidian Wealth Enterprises LLC raised its stake in Amgen by 0.6% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 5,863 shares of the medical research company’s stock worth $1,889,000 after purchasing an additional 33 shares in the last quarter. Finally, Beacon Financial Advisory LLC raised its stake in Amgen by 4.6% in the 3rd quarter. Beacon Financial Advisory LLC now owns 769 shares of the medical research company’s stock worth $248,000 after purchasing an additional 34 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Trading Down 2.0 %

AMGN opened at $291.16 on Friday. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.96. The firm has a market capitalization of $156.51 billion, a price-to-earnings ratio of 38.56, a PEG ratio of 3.01 and a beta of 0.56. The company’s 50 day moving average price is $273.75 and its two-hundred day moving average price is $302.14.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share 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, research analysts predict that Amgen Inc. will post 20.59 earnings per share for the current year.

Amgen Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be issued a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 3.27%. This is a positive change from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s payout ratio is presently 119.21%.

Insider Activity

In other news, EVP Murdo Gordon sold 8,771 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were 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 of the company’s stock, valued at approximately $13,025,590.94. This represents a 16.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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 transaction of $7,341,190.40. Following the completion of the sale, the executive vice president now directly owns 28,987 shares in the company, valued at approximately $8,496,669.44. This represents a 46.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,405 shares of company stock valued at $10,410,596. 0.69% of the stock is currently owned by insiders.

Analyst Ratings Changes

AMGN has been the subject of several analyst reports. Piper Sandler boosted their target price on shares of Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. UBS Group dropped their target price on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Cantor Fitzgerald restated an “overweight” rating and issued a $405.00 target price on shares of Amgen in a research report on Tuesday, October 22nd. Finally, Wolfe Research initiated coverage on shares of Amgen in a research report on Friday, November 15th. They issued a “peer perform” rating for the company. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Amgen currently has a consensus rating of “Hold” and a consensus target price 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.