Amgen Inc. (NASDAQ:AMGN) Position Lifted by Ethos Financial Group LLC

Ethos Financial Group LLC raised its stake in shares of Amgen Inc. (NASDAQ:AMGNFree Report) by 13.3% during the fourth quarter, HoldingsChannel reports. The fund owned 3,079 shares of the medical research company’s stock after acquiring an additional 362 shares during the quarter. Ethos Financial Group LLC’s holdings in Amgen were worth $887,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. OFI Invest Asset Management bought a new position in Amgen during the 3rd quarter valued at $26,000. Briaud Financial Planning Inc acquired a new stake in shares of Amgen during the third quarter worth $26,000. BOK Financial Private Wealth Inc. acquired a new stake in shares of Amgen during the fourth quarter worth $29,000. Providence Capital Advisors LLC acquired a new stake in shares of Amgen during the third quarter worth $30,000. Finally, Planned Solutions Inc. acquired a new stake in shares of Amgen during the fourth quarter worth $30,000. 76.50% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $313.09, for a total value of $662,811.53. Following the completion of the transaction, the senior vice president now directly owns 9,883 shares in the company, valued at $3,094,268.47. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AMGN. William Blair raised shares of Amgen from a “market perform” rating to an “outperform” rating in a report on Friday, May 3rd. Raymond James began coverage on shares of Amgen in a report on Thursday, March 28th. They set a “market perform” rating on the stock. Barclays raised shares of Amgen from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $230.00 to $300.00 in a report on Friday, May 3rd. Truist Financial reaffirmed a “buy” rating and issued a $320.00 price objective on shares of Amgen in a report on Friday, April 12th. Finally, TD Cowen dropped their price objective on shares of Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. Ten equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $305.65.

Check Out Our Latest Analysis on Amgen

Amgen Price Performance

Amgen stock traded down $2.71 during trading hours on Friday, hitting $310.15. 2,611,875 shares of the company traded hands, compared to its average volume of 2,906,587. The firm has a market cap of $166.38 billion, a P/E ratio of 44.82, 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. The firm’s 50-day simple moving average is $277.02 and its two-hundred day simple moving average is $282.14. Amgen Inc. has a 1-year low of $211.71 and a 1-year high of $329.72.

Amgen (NASDAQ:AMGNGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, beating the consensus estimate of $3.76 by $0.20. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The company had revenue of $7.45 billion during the quarter, compared to analyst estimates of $7.45 billion. During the same quarter last year, the firm posted $3.98 EPS. The business’s revenue for the quarter was up 22.0% on a year-over-year basis. As a group, analysts forecast 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 $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s payout ratio is 128.57%.

About Amgen

(Free Report)

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.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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