Summit X LLC Takes $455,000 Position in Amgen Inc. (NASDAQ:AMGN)

Summit X LLC bought a new stake in Amgen Inc. (NASDAQ:AMGN) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,745 shares of the medical research company’s stock, valued at approximately $455,000.

Several other institutional investors have also modified their holdings of the stock. Capital Performance Advisors LLP acquired a new position in Amgen during the third quarter worth about $25,000. Legacy Investment Solutions LLC acquired a new position in Amgen during the third quarter worth about $29,000. Centricity Wealth Management LLC acquired a new position in Amgen during the fourth quarter worth about $25,000. Synergy Investment Management LLC acquired a new position in Amgen during the fourth quarter worth about $34,000. Finally, Heck Capital Advisors LLC acquired a new position in Amgen during the fourth quarter worth about $36,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,589 shares of the 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 position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP David M. Reese sold 25,225 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the completion of the sale, the executive vice president now directly owns 36,922 shares in the company, valued at approximately $11,240,533.68. This represents a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,341 shares of company stock valued at $20,644,335. Insiders own 0.69% of the company’s stock.

Amgen Price Performance

Shares of AMGN opened at $318.89 on Wednesday. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The firm’s 50 day moving average price is $288.66 and its 200 day moving average price is $299.43. The company has a market cap of $171.31 billion, a P/E ratio of 42.24, a PEG ratio of 2.63 and a beta of 0.53. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, topping the consensus estimate 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 forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be given a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Friday, May 16th. Amgen’s dividend payout ratio is presently 126.09%.

Wall Street Analysts Forecast Growth

AMGN has been the topic of a number of recent research reports. William Blair restated an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. StockNews.com lowered shares of Amgen from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. Citigroup reiterated a “neutral” rating on shares of Amgen in a report on Wednesday, February 5th. Piper Sandler boosted their target price on shares of Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $324.00 target price on shares of Amgen in a report on Friday, January 24th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $314.04.

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.