PCG Asset Management LLC Takes Position in Amgen Inc. (NASDAQ:AMGN)

PCG Asset Management LLC acquired a new position in Amgen Inc. (NASDAQ:AMGN) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 953 shares of the medical research company’s stock, valued at approximately $248,000.

Other hedge funds have also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in Amgen during the third quarter worth about $25,000. Legacy Investment Solutions LLC acquired a new position in shares of Amgen in the third quarter valued at approximately $29,000. Centricity Wealth Management LLC purchased a new stake in Amgen during the 4th quarter worth approximately $25,000. Heck Capital Advisors LLC acquired a new stake in Amgen during the 4th quarter worth approximately $36,000. Finally, Kennebec Savings Bank purchased a new position in Amgen in the 3rd quarter valued at approximately $57,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,589 shares of Amgen stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total value of $483,802.83. Following the transaction, the senior vice president now directly owns 7,210 shares in the company, valued at approximately $2,195,228.70. This trade represents a 18.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP David M. Reese sold 25,225 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $304.44, for a total value of $7,679,499.00. Following the sale, the executive vice president now owns 36,922 shares of the company’s stock, valued at $11,240,533.68. This trade represents a 40.59 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,341 shares of company stock worth $20,644,335. 0.69% of the stock is owned by company insiders.

Amgen Stock Up 0.7 %

Shares of NASDAQ AMGN opened at $308.06 on Friday. The business has a 50-day moving average price of $280.87 and a 200 day moving average price of $299.99. The stock has a market cap of $165.49 billion, a PE ratio of 40.80, a price-to-earnings-growth ratio of 2.63 and a beta of 0.56. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, beating the consensus estimate of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. Equities research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be given a dividend of $2.38 per share. This is an increase from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s dividend payout ratio (DPR) is presently 126.09%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Redburn Partners cut their price objective on Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Bank of America upped their price target on Amgen from $256.00 to $275.00 and gave the stock an “underperform” rating in a report on Thursday, February 6th. UBS Group reiterated a “hold” rating on shares of Amgen in a research note on Wednesday, February 12th. William Blair restated an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $324.00 price target on shares of Amgen in a research note on Friday, January 24th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Amgen currently has a consensus rating of “Hold” and a consensus price target of $314.09.

Amgen Company 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.