US Asset Management LLC Purchases Shares of 2,196 Amgen Inc. (NASDAQ:AMGN)

US Asset Management LLC acquired a new position in Amgen Inc. (NASDAQ:AMGN) in the 4th quarter, HoldingsChannel reports. The firm acquired 2,196 shares of the medical research company’s stock, valued at approximately $632,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. OFI Invest Asset Management bought a new stake in shares of Amgen during the 3rd quarter valued at about $26,000. Briaud Financial Planning Inc bought a new stake in Amgen during the third quarter worth about $26,000. BOK Financial Private Wealth Inc. purchased a new stake in Amgen in the fourth quarter worth about $29,000. Providence Capital Advisors LLC bought a new position in shares of Amgen during the third quarter valued at approximately $30,000. Finally, Planned Solutions Inc. purchased a new position in shares of Amgen during the fourth quarter valued at approximately $30,000. Institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

AMGN stock traded up $0.91 during mid-day trading on Friday, hitting $313.77. The company had a trading volume of 1,325,221 shares, compared to its average volume of 2,891,774. The company has a 50-day moving average price of $277.02 and a 200 day moving average price of $282.14. Amgen Inc. has a 12-month low of $211.71 and a 12-month high of $329.72. The company has a market capitalization of $168.32 billion, a price-to-earnings ratio of 44.77, a P/E/G ratio of 3.00 and a beta of 0.60. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 11.96.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results 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. The company had revenue of $7.45 billion during the quarter, compared to analyst estimates of $7.45 billion. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The firm’s revenue was up 22.0% on a year-over-year basis. During the same period in the prior year, the company earned $3.98 earnings per share. On average, research analysts anticipate that Amgen Inc. will post 19.46 earnings per share for the current year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.87%. The ex-dividend date is Thursday, May 16th. Amgen’s payout ratio is 128.57%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. The Goldman Sachs Group raised their price objective on Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Truist Financial reiterated a “buy” rating and issued a $320.00 target price on shares of Amgen in a research note on Friday, April 12th. Barclays raised Amgen from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $230.00 to $300.00 in a research report on Friday, May 3rd. TD Cowen decreased their target price on Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. Finally, Raymond James initiated coverage on shares of Amgen in a report on Thursday, March 28th. They set a “market perform” rating on the stock. 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, Amgen presently has an average rating of “Moderate Buy” and a consensus price target of $305.65.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 2,117 shares of Amgen stock in a transaction dated Friday, May 3rd. The shares were 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 directly owns 9,883 shares of the company’s stock, 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 0.69% of the company’s stock.

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.