Trek Financial LLC Buys 1,885 Shares of Amgen Inc. $AMGN

Trek Financial LLC increased its stake in Amgen Inc. (NASDAQ:AMGN) by 26.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,890 shares of the medical research company’s stock after acquiring an additional 1,885 shares during the period. Trek Financial LLC’s holdings in Amgen were worth $3,747,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Wellington Altus USA Inc. raised its stake in Amgen by 72.3% during the second quarter. Wellington Altus USA Inc. now owns 81 shares of the medical research company’s stock worth $28,000 after purchasing an additional 34 shares during the period. Nvwm LLC boosted its holdings in shares of Amgen by 412.5% in the 3rd quarter. Nvwm LLC now owns 82 shares of the medical research company’s stock valued at $35,000 after purchasing an additional 66 shares during the last quarter. Security National Bank of Sioux City Iowa IA acquired a new position in shares of Amgen in the 2nd quarter valued at $36,000. PFS Partners LLC grew its stake in shares of Amgen by 95.5% during the 3rd quarter. PFS Partners LLC now owns 86 shares of the medical research company’s stock valued at $36,000 after buying an additional 42 shares during the period. Finally, Evergreen Advisors LLC purchased a new stake in shares of Amgen during the 1st quarter valued at $37,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Sanford C. Bernstein upped their price objective on Amgen from $335.00 to $345.00 and gave the stock a “market perform” rating in a report on Thursday, August 6th. Oppenheimer reaffirmed an “outperform” rating on shares of Amgen in a research report on Friday, October 23rd. TD Cowen lifted their target price on Amgen from $420.00 to $452.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Argus boosted their price target on Amgen from $375.00 to $460.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. Finally, Truist Financial boosted their price target on Amgen from $362.00 to $380.00 and gave the company a “hold” rating in a research report on Wednesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, sixteen have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $389.71.

Insiders Place Their Bets

In related news, SVP Nancy Grygiel sold 2,970 shares of Amgen stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $402.16, for a total transaction of $1,194,415.20. Following the transaction, the senior vice president owned 7,340 shares in the company, valued at approximately $2,951,854.40. The trade was a 28.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Rachna Khosla sold 2,000 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $412.57, for a total transaction of $825,140.00. Following the sale, the senior vice president directly owned 6,404 shares of the company’s stock, valued at approximately $2,642,098.28. This trade represents a 23.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 6,222 shares of company stock worth $2,540,926. Insiders own 0.85% of the company’s stock.

Amgen Trading Down 0.1%

Shares of AMGN stock opened at $465.45 on Tuesday. The stock has a market cap of $251.64 billion, a price-to-earnings ratio of 28.93, a price-to-earnings-growth ratio of 3.31 and a beta of 0.41. The company has a quick ratio of 1.13, a current ratio of 1.37 and a debt-to-equity ratio of 4.44. Amgen Inc. has a fifty-two week low of $292.12 and a fifty-two week high of $475.64. The firm’s 50 day moving average price is $420.49 and its two-hundred day moving average price is $375.49.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, August 4th. The medical research company reported $6.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.62 by $0.67. Amgen had a net margin of 22.95% and a return on equity of 124.14%. The company had revenue of $10.05 billion during the quarter, compared to the consensus estimate of $9.43 billion. During the same period in the previous year, the firm earned $6.02 earnings per share. Amgen’s revenue for the quarter was up 9.5% on a year-over-year basis. On average, analysts anticipate that Amgen Inc. will post 22.96 EPS for the current year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 20th will be paid a $2.52 dividend. This represents a $10.08 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, November 20th. Amgen’s dividend payout ratio (DPR) is currently 62.65%.

Amgen Profile

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research focuses on areas including oncology, cardiovascular disease, inflammation, bone health, nephrology and neuroscience.

The company’s products include biologic and specialty medicines such as Enbrel for inflammatory diseases, Prolia and Evenity for osteoporosis, Xgeva for skeletal-related complications, Repatha for cardiovascular risk reduction, Otezla for inflammatory conditions, Tezspire for severe asthma, Blincyto for certain blood cancers, and Lumakras for specific cancers.

Founded in 1980, Amgen is headquartered in Thousand Oaks, California.