Generali Asset Management SPA SGR Purchases Shares of 60,844 Amgen Inc. (NASDAQ:AMGN)

Generali Asset Management SPA SGR purchased a new stake in shares of Amgen Inc. (NASDAQ:AMGN) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 60,844 shares of the medical research company’s stock, valued at approximately $15,858,000.

A number of other institutional investors have also made changes to their positions in AMGN. State Street Corp boosted its stake in shares of Amgen by 1.2% in the third quarter. State Street Corp now owns 29,317,018 shares of the medical research company’s stock valued at $9,446,236,000 after purchasing an additional 345,537 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Amgen by 25.4% in 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 acquiring an additional 2,672,975 shares during the last quarter. Geode Capital Management LLC lifted its stake in Amgen by 0.9% in the third quarter. Geode Capital Management LLC now owns 12,122,889 shares of the medical research company’s stock worth $3,893,771,000 after acquiring an additional 103,851 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Amgen by 11.7% in the third quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock worth $1,657,183,000 after acquiring an additional 538,545 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Amgen by 6.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,442,543 shares of the medical research company’s stock worth $1,431,432,000 after acquiring an additional 264,396 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 1,589 shares of Amgen stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total transaction of $483,802.83. Following the transaction, the senior vice president now directly owns 7,210 shares of the company’s stock, valued at $2,195,228.70. The trade was a 18.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David M. Reese sold 25,225 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $304.44, for a total value of $7,679,499.00. Following the completion of the transaction, the executive vice president now owns 36,922 shares of the company’s stock, valued at $11,240,533.68. This trade represents a 40.59 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,341 shares of company stock valued at $20,644,335. Company insiders own 0.69% of the company’s stock.

Wall Street Analysts Forecast Growth

AMGN has been the subject of a number of recent research reports. Johnson Rice set a $294.00 price target on shares of Amgen in a research note on Wednesday, March 5th. Piper Sandler raised their price objective on shares of Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. StockNews.com cut shares of Amgen from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. Leerink Partners cut their target price on shares of Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Amgen in a report on Wednesday, February 5th. Two research analysts have rated the stock with a sell rating, ten have issued 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, the company has an average rating of “Hold” and a consensus price target of $314.04.

Amgen Stock Up 1.1 %

AMGN opened at $317.17 on Tuesday. The firm has a 50 day moving average price of $292.99 and a 200 day moving average price of $299.02. The company has a market cap of $170.39 billion, a PE ratio of 42.01, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, topping analysts’ consensus estimates of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. Sell-side analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be issued a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date is Friday, May 16th. Amgen’s dividend payout ratio (DPR) is 126.09%.

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.