Legacy Capital Group California Inc. lifted its stake in Amgen Inc. (NASDAQ:AMGN – Free Report) by 2.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,106 shares of the medical research company’s stock after purchasing an additional 87 shares during the period. Legacy Capital Group California Inc.’s holdings in Amgen were worth $690,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of AMGN. Strategic Investment Solutions Inc. IL acquired a new position in shares of Amgen in the 1st quarter valued at $28,000. PrairieView Partners LLC lifted its stake in Amgen by 250.0% in the second quarter. PrairieView Partners LLC now owns 140 shares of the medical research company’s stock valued at $31,000 after buying an additional 100 shares during the period. Lumature Wealth Partners LLC boosted its holdings in Amgen by 51.1% during the first quarter. Lumature Wealth Partners LLC now owns 142 shares of the medical research company’s stock worth $34,000 after buying an additional 48 shares during the last quarter. Guardian Wealth Advisors LLC acquired a new position in shares of Amgen during the 1st quarter worth about $37,000. Finally, Impact Partnership Wealth LLC acquired a new stake in shares of Amgen in the 2nd quarter valued at approximately $37,000. Institutional investors own 74.44% of the company’s stock.
Analysts Set New Price Targets
Several research firms have weighed in on AMGN. Truist Financial upgraded shares of Amgen from a “hold” rating to a “buy” rating and increased their target price for the stock from $260.00 to $320.00 in a report on Thursday, November 2nd. Royal Bank of Canada boosted their price objective on Amgen from $253.00 to $256.00 and gave the company a “sector perform” rating in a research report on Wednesday, November 1st. Mizuho upped their price target on shares of Amgen from $214.00 to $223.00 and gave the company a “neutral” rating in a report on Monday, August 14th. Morgan Stanley reduced their target price on shares of Amgen from $300.00 to $291.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 1st. Finally, Deutsche Bank Aktiengesellschaft began coverage on Amgen in a report on Thursday, November 9th. They set a “hold” rating and a $240.00 price objective for the company. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $278.15.
Amgen Stock Performance
Shares of Amgen stock traded down $3.61 on Friday, hitting $265.39. The stock had a trading volume of 2,642,931 shares, compared to its average volume of 2,476,674. The stock has a market cap of $142.03 billion, a price-to-earnings ratio of 18.86, a price-to-earnings-growth ratio of 2.61 and a beta of 0.58. The business’s 50 day moving average is $269.59 and its two-hundred day moving average is $247.27. The company has a quick ratio of 2.56, a current ratio of 2.86 and a debt-to-equity ratio of 7.71. Amgen Inc. has a twelve month low of $211.71 and a twelve month high of $291.60.
Amgen (NASDAQ:AMGN – Get Free Report) last issued its quarterly earnings data on Tuesday, October 31st. The medical research company reported $4.96 EPS for the quarter, beating analysts’ consensus estimates of $4.65 by $0.31. The firm had revenue of $6.90 billion for the quarter, compared to analyst estimates of $6.92 billion. Amgen had a return on equity of 165.37% and a net margin of 28.20%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm posted $4.70 EPS. Analysts forecast that Amgen Inc. will post 18.65 EPS for the current year.
Amgen Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 17th will be given a dividend of $2.13 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $8.52 dividend on an annualized basis and a dividend yield of 3.21%. Amgen’s payout ratio is presently 60.55%.
Insider Transactions at Amgen
In related news, major shareholder Amgen Inc purchased 1,764,705 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The stock was acquired at an average cost of $17.00 per share, for a total transaction of $29,999,985.00. Following the completion of the purchase, the insider now owns 35,368,653 shares in the company, valued at approximately $601,267,101. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Jonathan P. Graham sold 10,000 shares of Amgen stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $272.81, for a total value of $2,728,100.00. Following the transaction, the executive vice president now directly owns 28,078 shares of the company’s stock, valued at $7,659,959.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Amgen Inc bought 1,764,705 shares of the business’s stock in a transaction on Tuesday, September 19th. The shares were acquired at an average price of $17.00 per share, with a total value of $29,999,985.00. Following the completion of the purchase, the insider now directly owns 35,368,653 shares of the company’s stock, valued at $601,267,101. The disclosure for this purchase can be found here. 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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