PKS Advisory Services LLC Acquires Shares of 1,573 Amgen Inc. (NASDAQ:AMGN)

PKS Advisory Services LLC bought a new position in Amgen Inc. (NASDAQ:AMGN) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,573 shares of the medical research company’s stock, valued at approximately $410,000.

Other institutional investors also recently modified their holdings of the company. Zions Bancorporation N.A. increased its stake in shares of Amgen by 52.5% during the fourth quarter. Zions Bancorporation N.A. now owns 24,929 shares of the medical research company’s stock valued at $6,497,000 after purchasing an additional 8,583 shares in the last quarter. Ashton Thomas Securities LLC grew its stake in shares of Amgen by 6.6% in the 4th quarter. Ashton Thomas Securities LLC now owns 810 shares of the medical research company’s stock worth $206,000 after buying an additional 50 shares during the last quarter. Modern Wealth Management LLC grew its stake in shares of Amgen by 171.5% in the 4th quarter. Modern Wealth Management LLC now owns 4,645 shares of the medical research company’s stock worth $1,211,000 after buying an additional 2,934 shares during the last quarter. EntryPoint Capital LLC bought a new position in Amgen during the 4th quarter valued at approximately $804,000. Finally, Dudley Capital Management LLC raised its stake in Amgen by 15.4% during the fourth quarter. Dudley Capital Management LLC now owns 1,085 shares of the medical research company’s stock valued at $283,000 after buying an additional 145 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Leerink Partners cut their target price on Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. Redburn Partners cut their price objective on shares of Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. StockNews.com cut shares of Amgen from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. Piper Sandler upped their target price on shares of Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Finally, Bank of America raised their price target on shares of Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a research report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $314.04.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $306.86 on Wednesday. The firm’s 50 day moving average price is $298.92 and its 200-day moving average price is $298.41. 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 stock has a market capitalization of $164.85 billion, a PE ratio of 40.64, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85.

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 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%. Equities research analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be issued a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s dividend payout ratio is presently 126.09%.

Insiders Place Their Bets

In related news, EVP David M. Reese sold 8,711 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $293.22, for a total transaction of $2,554,239.42. Following the completion of the transaction, the executive vice president now directly owns 62,147 shares in the company, valued at approximately $18,222,743.34. The trade was a 12.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total transaction of $483,802.83. Following the completion of the sale, the senior vice president now directly owns 7,210 shares of the company’s stock, valued at $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 sold a total of 69,341 shares of company stock worth $20,644,335 over the last quarter. 0.69% of the stock is currently owned by corporate insiders.

Amgen 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.