Continuum Advisory LLC boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) by 3.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,109 shares of the medical research company’s stock after buying an additional 101 shares during the quarter. Continuum Advisory LLC’s holdings in Amgen were worth $752,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the stock. Tanglewood Legacy Advisors LLC bought a new position in shares of Amgen during the 4th quarter worth $26,000. Ruedi Wealth Management Inc. purchased a new stake in shares of Amgen during the 4th quarter valued at approximately $27,000. GW&K Investment Management LLC boosted its holdings in Amgen by 200.0% in the 4th quarter. GW&K Investment Management LLC now owns 120 shares of the medical research company’s stock worth $32,000 after buying an additional 80 shares during the period. General Partner Inc. purchased a new position in Amgen in the 1st quarter valued at approximately $32,000. Finally, AXS Investments LLC bought a new position in shares of Amgen in the fourth quarter worth $33,000. Institutional investors own 74.44% of the company’s stock.
Amgen Price Performance
AMGN opened at $254.39 on Friday. The company has a debt-to-equity ratio of 8.76, a quick ratio of 2.48 and a current ratio of 2.77. The stock has a market capitalization of $136.07 billion, a PE ratio of 17.15, a price-to-earnings-growth ratio of 3.13 and a beta of 0.61. The stock’s 50 day moving average price is $243.67 and its 200-day moving average price is $236.69. Amgen Inc. has a 52-week low of $211.71 and a 52-week high of $296.67.
Amgen Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 18th will be given a dividend of $2.13 per share. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $8.52 annualized dividend and a yield of 3.35%. Amgen’s payout ratio is 57.45%.
Wall Street Analysts Forecast Growth
Several research analysts have commented on AMGN shares. Oppenheimer restated an “outperform” rating and issued a $280.00 target price on shares of Amgen in a research note on Tuesday, July 25th. Truist Financial reaffirmed a “hold” rating and set a $260.00 target price on shares of Amgen in a report on Tuesday. HSBC began coverage on shares of Amgen in a report on Wednesday. They issued a “buy” rating and a $320.00 price target for the company. Credit Suisse Group decreased their price target on shares of Amgen from $220.00 to $200.00 in a report on Wednesday, July 12th. Finally, Mizuho raised their target price on shares of Amgen from $214.00 to $223.00 and gave the company a “neutral” rating in a research note on Monday, August 14th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $259.53.
Insiders Place Their Bets
In other news, EVP Murdo Gordon sold 9,558 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $262.43, for a total value of $2,508,305.94. Following the completion of the transaction, the executive vice president now owns 44,308 shares in the company, valued at approximately $11,627,748.44. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.46% of the company’s stock.
Amgen Company Profile
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.
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