Family Legacy Inc. Grows Holdings in Amgen Inc. (NASDAQ:AMGN)

Family Legacy Inc. grew its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 1.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,963 shares of the medical research company’s stock after purchasing an additional 134 shares during the quarter. Family Legacy Inc.’s holdings in Amgen were worth $3,425,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in AMGN. Vanguard Group Inc. grew its position in shares of Amgen by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 52,721,795 shares of the medical research company’s stock worth $13,741,409,000 after buying an additional 339,522 shares in the last quarter. State Street Corp grew its holdings in Amgen by 1.2% during the 3rd quarter. State Street Corp now owns 29,317,018 shares of the medical research company’s stock worth $9,446,236,000 after acquiring an additional 345,537 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in 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 worth $3,441,909,000 after acquiring an additional 2,672,975 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Amgen by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 12,122,889 shares of the medical research company’s stock valued at $3,893,771,000 after purchasing an additional 103,851 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Amgen in the 4th quarter worth approximately $1,541,991,000. 76.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on AMGN shares. Citigroup reissued a “neutral” rating on shares of Amgen in a report on Wednesday, February 5th. Piper Sandler boosted their price target on Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Amgen in a research report on Wednesday, February 5th. Piper Sandler Companies reiterated an “overweight” rating and issued a $310.00 target price on shares of Amgen in a research note on Thursday, January 2nd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $324.00 price target on shares of Amgen in a research report on Friday, January 24th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Amgen presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.04.

Amgen Stock Up 0.4 %

Amgen stock opened at $306.95 on Monday. The business’s 50-day simple moving average is $301.08 and its two-hundred day simple moving average is $297.94. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. The company has a market cap of $164.90 billion, a PE ratio of 40.66, a PEG ratio of 2.63 and a beta of 0.53. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85.

Amgen (NASDAQ:AMGN) last issued its 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%. Equities analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be paid a $2.38 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.10%. Amgen’s payout ratio is currently 126.09%.

Insider Buying and Selling

In related news, 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 sale, the executive vice president now directly owns 28,987 shares of the company’s stock, valued at $8,496,669.44. This trade represents a 46.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David M. Reese sold 8,711 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $293.22, for a total value of $2,554,239.42. Following the completion of the transaction, the executive vice president now directly owns 62,147 shares of the company’s stock, valued at $18,222,743.34. The trade was a 12.29 % decrease in their ownership of the stock. 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 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.