Amgen Inc. (NASDAQ:AMGN) Shares Acquired by TCV Trust & Wealth Management Inc.

TCV Trust & Wealth Management Inc. lifted its holdings in Amgen Inc. (NASDAQ:AMGN) by 0.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,270 shares of the medical research company’s stock after purchasing an additional 468 shares during the quarter. Amgen comprises about 1.4% of TCV Trust & Wealth Management Inc.’s portfolio, making the stock its 24th biggest position. TCV Trust & Wealth Management Inc.’s holdings in Amgen were worth $14,927,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. AMF Tjanstepension AB increased its position in shares of Amgen by 16.9% in the 3rd quarter. AMF Tjanstepension AB now owns 120,389 shares of the medical research company’s stock valued at $38,825,000 after acquiring an additional 17,387 shares during the period. Redhawk Wealth Advisors Inc. grew its stake in Amgen by 3.9% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 2,569 shares of the medical research company’s stock valued at $828,000 after purchasing an additional 96 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new position in shares of Amgen in the third quarter valued at about $234,000. Paladin Wealth LLC purchased a new position in shares of Amgen in the third quarter worth about $142,000. Finally, CX Institutional lifted its stake in Amgen by 319.8% during the 3rd quarter. CX Institutional now owns 40,355 shares of the medical research company’s stock valued at $13,003,000 after acquiring an additional 30,741 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AMGN. William Blair restated an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. Piper Sandler Companies reissued an “overweight” rating and set a $310.00 target price on shares of Amgen in a research note on Thursday, January 2nd. StockNews.com cut Amgen from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $405.00 price objective on shares of Amgen in a report on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Amgen currently has a consensus rating of “Hold” and an average target price of $314.09.

Amgen Stock Performance

Shares of AMGN stock opened at $296.66 on Wednesday. The stock has a market capitalization of $159.46 billion, a PE ratio of 39.29, a P/E/G ratio of 3.01 and a beta of 0.56. The firm has a 50 day moving average of $272.59 and a two-hundred day moving average of $302.50. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The company has a quick ratio of 0.96, a current ratio of 1.26 and a debt-to-equity ratio of 9.62.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, topping 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%. On average, research analysts predict that Amgen Inc. will post 20.59 EPS for the current fiscal year.

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be issued a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.21%. This is an increase from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s dividend payout ratio is 119.21%.

Insider Activity at Amgen

In related news, EVP Jonathan P. Graham sold 25,045 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $293.12, for a total value of $7,341,190.40. Following the transaction, the executive vice president now owns 28,987 shares in the company, valued at $8,496,669.44. The trade was a 46.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Nancy A. Grygiel sold 1,589 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total value of $483,802.83. Following the sale, the senior vice president now directly owns 7,210 shares of the company’s stock, valued at approximately $2,195,228.70. This represents a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.69% of the company’s stock.

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.