Legacy Financial Advisors Inc. Buys 199 Shares of Amgen Inc. (NASDAQ:AMGN)

Legacy Financial Advisors Inc. raised its stake in Amgen Inc. (NASDAQ:AMGN) by 3.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 5,498 shares of the medical research company’s stock after acquiring an additional 199 shares during the period. Legacy Financial Advisors Inc.’s holdings in Amgen were worth $1,583,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. BIP Wealth LLC increased its position in shares of Amgen by 2.6% during the 4th quarter. BIP Wealth LLC now owns 1,249 shares of the medical research company’s stock worth $360,000 after purchasing an additional 32 shares in the last quarter. Southland Equity Partners LLC increased its position in shares of Amgen by 2.3% during the 4th quarter. Southland Equity Partners LLC now owns 1,538 shares of the medical research company’s stock worth $443,000 after purchasing an additional 34 shares in the last quarter. Acropolis Investment Management LLC increased its position in shares of Amgen by 3.5% during the 4th quarter. Acropolis Investment Management LLC now owns 999 shares of the medical research company’s stock worth $288,000 after purchasing an additional 34 shares in the last quarter. Opal Wealth Advisors LLC increased its position in Amgen by 1.9% in the 4th quarter. Opal Wealth Advisors LLC now owns 1,868 shares of the medical research company’s stock valued at $538,000 after acquiring an additional 34 shares in the last quarter. Finally, Marino Stram & Associates LLC raised its stake in shares of Amgen by 0.7% in the fourth quarter. Marino Stram & Associates LLC now owns 4,626 shares of the medical research company’s stock worth $1,332,000 after acquiring an additional 34 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $313.09, for a total transaction of $662,811.53. Following the completion of the transaction, the senior vice president now owns 9,883 shares in the company, valued at approximately $3,094,268.47. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.46% of the company’s stock.

Amgen Trading Up 11.8 %

Shares of AMGN traded up $32.90 during trading hours on Friday, reaching $311.29. The stock had a trading volume of 9,644,682 shares, compared to its average volume of 2,279,398. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 10.14. Amgen Inc. has a 52 week low of $211.71 and a 52 week high of $329.72. The firm has a 50-day moving average of $274.95 and a 200 day moving average of $281.50. The company has a market cap of $166.97 billion, a P/E ratio of 44.47, a P/E/G ratio of 3.01 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 EPS for the quarter, beating analysts’ consensus estimates of $3.76 by $0.20. Amgen had a net margin of 12.74% and a return on equity of 145.62%. The business had revenue of $7.45 billion during the quarter, compared to analysts’ expectations of $7.45 billion. During the same quarter in the prior year, the company earned $3.98 EPS. The firm’s quarterly revenue was up 22.0% on a year-over-year basis. On average, sell-side analysts expect that Amgen Inc. will post 19.46 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend payout ratio (DPR) is presently 128.57%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. SVB Leerink lowered shares of Amgen from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $324.00 to $318.00 in a report on Wednesday, February 7th. TD Cowen reduced their price objective on Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. UBS Group upped their price objective on Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a report on Friday. Royal Bank of Canada reduced their price objective on Amgen from $332.00 to $328.00 and set an “outperform” rating on the stock in a report on Friday. Finally, StockNews.com raised Amgen from a “hold” rating to a “buy” rating in a report on Friday. Ten equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $305.05.

About Amgen

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.