Strive Asset Management LLC Makes New $652,000 Investment in Amgen Inc. (NASDAQ:AMGN)

Strive Asset Management LLC purchased a new stake in shares of Amgen Inc. (NASDAQ:AMGN) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,502 shares of the medical research company’s stock, valued at approximately $652,000.

Other institutional investors have also recently made changes to their positions in the company. Grassi Investment Management lifted its holdings in Amgen by 4.5% during the 4th quarter. Grassi Investment Management now owns 4,600 shares of the medical research company’s stock worth $1,199,000 after purchasing an additional 200 shares in the last quarter. Tallon Kerry Patrick bought a new position in Amgen in the 4th quarter worth about $270,000. Empirical Asset Management LLC increased its stake in Amgen by 81.3% in the 4th quarter. Empirical Asset Management LLC now owns 7,040 shares of the medical research company’s stock worth $1,835,000 after acquiring an additional 3,156 shares during the last quarter. Hennessy Advisors Inc. increased its stake in Amgen by 1.9% in the 4th quarter. Hennessy Advisors Inc. now owns 13,350 shares of the medical research company’s stock worth $3,480,000 after acquiring an additional 250 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC increased its position in shares of Amgen by 3.2% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 13,313 shares of the medical research company’s stock valued at $3,470,000 after purchasing an additional 416 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of AMGN opened at $272.41 on Friday. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The firm has a market capitalization of $146.48 billion, a P/E ratio of 36.08, a PEG ratio of 2.63 and a beta of 0.51. The business has a fifty day moving average of $291.00 and a 200 day moving average of $288.09.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.18 by $0.72. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The business had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.05 billion. During the same quarter in the previous year, the company posted $3.96 earnings per share. Amgen’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

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 given a $2.38 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 annualized dividend and a dividend yield of 3.49%. Amgen’s payout ratio is 86.86%.

Analyst Ratings Changes

Several equities analysts have recently commented on AMGN shares. Morgan Stanley reiterated an “equal weight” rating on shares of Amgen in a research report on Friday, May 2nd. Johnson Rice set a $294.00 price objective on Amgen in a research report on Wednesday, March 5th. StockNews.com upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Piper Sandler lowered their target price on Amgen from $329.00 to $328.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Bank of America raised their target price on Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a research note on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $310.18.

Insider Activity

In related news, EVP David M. Reese sold 25,225 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was 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 directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.76% of the company’s stock.

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.