Ipsen Advisor Group LLC Acquires Shares of 2,105 Amgen Inc. (NASDAQ:AMGN)

Ipsen Advisor Group LLC bought a new position in shares of Amgen Inc. (NASDAQ:AMGN) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 2,105 shares of the medical research company’s stock, valued at approximately $549,000.

A number of other hedge funds also recently made changes to their positions in the business. Centricity Wealth Management LLC bought a new stake in Amgen in the fourth quarter worth about $25,000. Legacy Investment Solutions LLC bought a new stake in shares of Amgen in the 3rd quarter worth approximately $29,000. Synergy Investment Management LLC bought a new stake in shares of Amgen in the 4th quarter worth approximately $34,000. Atala Financial Inc purchased a new position in Amgen in the fourth quarter valued at approximately $34,000. Finally, Heck Capital Advisors LLC bought a new position in Amgen during the fourth quarter valued at $36,000. 76.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AMGN has been the topic of a number of recent research reports. Truist Financial dropped their price target on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Piper Sandler boosted their price objective on Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $324.00 target price on shares of Amgen in a research report on Friday, January 24th. StockNews.com lowered shares of Amgen from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Amgen in a report on Wednesday, February 5th. Two 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 company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $314.04.

Insider Buying and Selling

In other news, EVP David M. Reese sold 25,225 shares of the business’s stock in a transaction that occurred 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 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Nancy A. Grygiel sold 1,589 shares of the stock in a transaction on Wednesday, February 5th. The shares were 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 in the company, valued at approximately $2,195,228.70. This represents a 18.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 69,341 shares of company stock worth $20,644,335 in the last quarter. 0.69% of the stock is owned by insiders.

Amgen Trading Down 2.4 %

Shares of Amgen stock opened at $306.86 on Wednesday. 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 1 year low of $253.30 and a 1 year high of $346.85. The firm has a market cap of $164.85 billion, a PE ratio of 40.64, a PEG ratio of 2.63 and a beta of 0.53. The company has a 50 day simple moving average of $298.92 and a two-hundred day simple moving average of $298.41.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data 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%. Analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be issued a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.10%. Amgen’s dividend payout ratio 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.