Amgen Inc. (NASDAQ:AMGN) Shares Purchased by Principal Street Partners LLC

Principal Street Partners LLC grew its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 1.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,435 shares of the medical research company’s stock after purchasing an additional 340 shares during the period. Principal Street Partners LLC’s holdings in Amgen were worth $5,065,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Centricity Wealth Management LLC acquired a new position in shares of Amgen during the 4th quarter worth $25,000. Ritter Daniher Financial Advisory LLC DE boosted its holdings in Amgen by 66.2% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock worth $33,000 after buying an additional 51 shares in the last quarter. Synergy Investment Management LLC acquired a new position in Amgen during the fourth quarter worth about $34,000. Atala Financial Inc purchased a new position in Amgen in the fourth quarter valued at about $34,000. Finally, Heck Capital Advisors LLC purchased a new position in Amgen in the fourth quarter valued at about $36,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Mizuho upped their price target on Amgen from $235.00 to $280.00 and gave the stock a “neutral” rating in a report on Wednesday, May 7th. UBS Group reissued a “neutral” rating and issued a $315.00 target price (down previously from $319.00) on shares of Amgen in a report on Friday, May 2nd. Citigroup reaffirmed a “neutral” rating on shares of Amgen in a research note on Wednesday, February 5th. Morgan Stanley reissued an “equal weight” rating on shares of Amgen in a research note on Friday, May 2nd. Finally, Piper Sandler dropped their target price on shares of Amgen from $329.00 to $328.00 and set an “overweight” rating for the company in a report on Friday. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $310.18.

Insider Transactions at Amgen

In other news, EVP David M. Reese sold 25,225 shares of the 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 completion of the sale, the executive vice president now owns 36,922 shares in the company, valued at approximately $11,240,533.68. This trade represents a 40.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.76% of the company’s stock.

Amgen Trading Up 1.3%

AMGN stock opened at $275.85 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The company has a market cap of $148.33 billion, a price-to-earnings ratio of 36.54, a PEG ratio of 2.63 and a beta of 0.51. The business has a fifty day simple moving average of $290.27 and a 200-day simple moving average of $287.56. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.18 by $0.72. The firm had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.96 earnings per share. On average, equities research analysts expect 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. Shareholders of record on Friday, May 16th will be paid a dividend of $2.38 per share. The ex-dividend date is Friday, May 16th. This represents a $9.52 annualized dividend and a yield of 3.45%. Amgen’s dividend payout ratio is currently 86.86%.

About Amgen

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.