Redmond Asset Management LLC Invests $581,000 in Amgen Inc. (NASDAQ:AMGN)

Redmond Asset Management LLC acquired a new position in Amgen Inc. (NASDAQ:AMGN) in the 4th quarter, Holdings Channel.com reports. The firm acquired 2,230 shares of the medical research company’s stock, valued at approximately $581,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMGN. Capital Performance Advisors LLP purchased a new stake in shares of Amgen in the 3rd quarter worth $25,000. Centricity Wealth Management LLC purchased a new stake in shares of Amgen in the 4th quarter worth $25,000. Legacy Investment Solutions LLC purchased a new stake in Amgen in the 3rd quarter worth $29,000. Heck Capital Advisors LLC purchased a new stake in Amgen in the 4th quarter worth $36,000. Finally, PrairieView Partners LLC increased its stake in Amgen by 118.3% in the 4th 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. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AMGN has been the subject of a number of analyst reports. Piper Sandler Companies reiterated an “overweight” rating and issued a $310.00 price target on shares of Amgen in a research note on Thursday, January 2nd. Citigroup reiterated a “neutral” rating on shares of Amgen in a research note on Wednesday, February 5th. Truist Financial cut their price target on Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Wolfe Research initiated coverage on Amgen in a research note on Friday, November 15th. They issued a “peer perform” rating for the company. Finally, Bank of America increased their price target on Amgen from $256.00 to $275.00 and gave the stock an “underperform” rating in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Amgen currently has a consensus rating of “Hold” and an average price target of $314.09.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,589 shares of the firm’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 completion of the sale, the senior vice president now owns 7,210 shares of the company’s stock, valued at $2,195,228.70. This trade represents a 18.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jonathan P. Graham sold 25,045 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was 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 of the company’s stock, 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 valued at $20,644,335 over the last 90 days. Insiders own 0.69% of the company’s stock.

Amgen Stock Up 1.7 %

Shares of NASDAQ:AMGN opened at $303.01 on Friday. 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 Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The company has a 50-day moving average price of $276.27 and a 200 day moving average price of $300.40. The company has a market cap of $162.78 billion, a price-to-earnings ratio of 40.13, a PEG ratio of 2.58 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) 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, equities research analysts predict that Amgen Inc. will post 20.6 earnings per share for the current year.

Amgen Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be paid a $2.38 dividend. The ex-dividend date is Friday, February 14th. This represents a $9.52 annualized dividend and a yield of 3.14%. This is an increase from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio (DPR) is presently 126.09%.

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.