Amgen Inc. (NASDAQ:AMGN) Shares Bought by Canopy Partners LLC

Canopy Partners LLC boosted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 64.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,229 shares of the medical research company’s stock after acquiring an additional 1,662 shares during the period. Canopy Partners LLC’s holdings in Amgen were worth $1,102,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of AMGN. Vanguard Group Inc. lifted its position in Amgen by 0.6% during the fourth 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. Charles Schwab Investment Management Inc. increased its position in Amgen by 25.4% during the fourth 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 purchasing an additional 2,672,975 shares during the last quarter. Geode Capital Management LLC raised its stake in Amgen by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 12,475,032 shares of the medical research company’s stock worth $3,245,881,000 after purchasing an additional 352,143 shares during the period. Norges Bank acquired a new position in Amgen in the 4th quarter valued at about $1,541,991,000. Finally, Invesco Ltd. grew its stake in shares of Amgen by 7.5% in the 4th quarter. Invesco Ltd. now owns 3,887,248 shares of the medical research company’s stock valued at $1,013,172,000 after buying an additional 270,135 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Down 5.0 %

Amgen stock opened at $294.39 on Monday. The stock has a 50 day moving average of $304.18 and a two-hundred day moving average of $296.99. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The stock has a market capitalization of $158.15 billion, a price-to-earnings ratio of 38.99, a PEG ratio of 2.63 and a beta of 0.53. 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 (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, beating 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 expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be given 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 yield of 3.23%. Amgen’s payout ratio is currently 126.09%.

Insider Buying and Selling at Amgen

In other Amgen news, EVP Murdo Gordon sold 8,771 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $294.79, for a total value of $2,585,603.09. Following the completion of the transaction, the executive vice president now owns 44,186 shares in the company, valued at approximately $13,025,590.94. This represents a 16.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 owns 7,210 shares in the company, valued at $2,195,228.70. The trade was a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,341 shares of company stock valued at $20,644,335. 0.69% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Piper Sandler Companies reiterated an “overweight” rating and issued a $310.00 price objective on shares of Amgen in a report on Thursday, January 2nd. Wells Fargo & Company reissued an “equal weight” rating on shares of Amgen in a research report on Wednesday, February 5th. Bank of America boosted their price target on shares of Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a research note on Wednesday, March 5th. Truist Financial dropped their target price on shares of Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Finally, StockNews.com upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 29th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $314.04.

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.