Cypress Capital LLC Purchases 301 Shares of Amgen Inc. (NASDAQ:AMGN)

Cypress Capital LLC grew its position in shares of Amgen Inc. (NASDAQ:AMGN) by 3.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,439 shares of the medical research company’s stock after acquiring an additional 301 shares during the quarter. Cypress Capital LLC’s holdings in Amgen were worth $2,200,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMGN. Capital Performance Advisors LLP bought a new stake in shares of Amgen during the third quarter valued at approximately $25,000. Centricity Wealth Management LLC bought a new stake in shares of Amgen during the fourth quarter valued at approximately $25,000. Legacy Investment Solutions LLC bought a new stake in Amgen during the third quarter worth $29,000. Heck Capital Advisors LLC bought a new stake in Amgen during the fourth quarter worth $36,000. Finally, PrairieView Partners LLC grew its holdings in Amgen by 118.3% during the fourth quarter. PrairieView Partners LLC now owns 179 shares of the medical research company’s stock worth $46,000 after buying an additional 97 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AMGN. StockNews.com downgraded Amgen from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $324.00 price target on shares of Amgen in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft decreased their price target on Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. Jefferies Financial Group reiterated a “buy” rating and set a $380.00 price target on shares of Amgen in a report on Tuesday, November 12th. Finally, Redburn Partners decreased their price target on Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Amgen presently has a consensus rating of “Hold” and an average target price of $314.09.

Amgen Stock Up 1.7 %

Shares of NASDAQ AMGN opened at $303.01 on Friday. 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 current ratio of 1.26 and a quick ratio of 0.95. The business’s fifty day moving average price is $276.27 and its 200-day moving average price is $300.59. The stock has a market capitalization of $162.78 billion, a PE ratio of 40.13, a P/E/G ratio of 2.55 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 EPS for the quarter, beating analysts’ consensus estimates of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. On average, equities research analysts anticipate that Amgen Inc. will post 20.6 EPS for the current year.

Amgen Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be paid a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.14%. 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 126.09%.

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 1,589 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total transaction of $483,802.83. Following the sale, the senior vice president now directly owns 7,210 shares in the company, valued at approximately $2,195,228.70. The trade was a 18.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP David M. Reese sold 25,225 shares of the business’s stock in a transaction on Friday, February 21st. The shares were 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 owns 36,922 shares in the company, valued at approximately $11,240,533.68. The trade was a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,341 shares of company stock worth $20,644,335. 0.69% of the stock is owned by company insiders.

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.