307 Shares in Amgen Inc. (NASDAQ:AMGN) Bought by Fairway Wealth LLC

Fairway Wealth LLC acquired a new position in Amgen Inc. (NASDAQ:AMGN) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 307 shares of the medical research company’s stock, valued at approximately $80,000.

A number of other institutional investors have also recently added to or reduced their stakes in AMGN. Charles Schwab Investment Management Inc. lifted its holdings in Amgen by 25.4% in the 4th 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 buying an additional 2,672,975 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Amgen in the 4th quarter worth $401,913,000. Van ECK Associates Corp lifted its holdings in Amgen by 263.8% in the 4th quarter. Van ECK Associates Corp now owns 1,038,593 shares of the medical research company’s stock worth $270,699,000 after buying an additional 753,147 shares in the last quarter. Nordea Investment Management AB lifted its holdings in Amgen by 40.7% in the 4th quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company’s stock worth $609,526,000 after buying an additional 676,598 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of Amgen by 11.7% in the 3rd quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock valued at $1,657,183,000 after purchasing an additional 538,545 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

AMGN has been the subject of several recent analyst reports. Piper Sandler Companies restated an “overweight” rating and issued a $310.00 target price on shares of Amgen in a research report on Thursday, January 2nd. 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 report on Monday, February 10th. Truist Financial decreased their target price on shares of Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Royal Bank of Canada restated an “outperform” rating and issued a $324.00 target price on shares of Amgen in a research report on Friday, January 24th. Finally, Wells Fargo & Company restated an “equal weight” rating on shares of Amgen in a research report on Wednesday, February 5th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $314.04.

Insider Buying and Selling

In other Amgen news, EVP David M. Reese sold 8,711 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $293.22, for a total value of $2,554,239.42. Following the completion of the sale, the executive vice president now owns 62,147 shares in the company, valued at $18,222,743.34. This trade represents a 12.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jonathan P. Graham sold 25,045 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $293.12, for a total transaction of $7,341,190.40. Following the completion of the transaction, the executive vice president now directly owns 28,987 shares in the company, valued at $8,496,669.44. The trade was a 46.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,341 shares of company stock worth $20,644,335. 0.69% of the stock is owned by insiders.

Amgen Stock Up 0.8 %

Shares of NASDAQ:AMGN opened at $327.36 on Tuesday. Amgen Inc. has a 52 week low of $253.30 and a 52 week 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. The company has a market capitalization of $175.86 billion, a PE ratio of 43.36, a PEG ratio of 2.63 and a beta of 0.53. The company has a 50 day moving average price of $287.50 and a two-hundred day moving average price of $299.50.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, beating 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%. Analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently announced 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. This represents a $9.52 annualized dividend and a yield of 2.91%. The ex-dividend date is Friday, May 16th. Amgen’s 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.