Red Crane Wealth Management LLC Makes New $515,000 Investment in Amgen Inc. (NASDAQ:AMGN)

Red Crane Wealth Management LLC acquired a new stake in Amgen Inc. (NASDAQ:AMGN) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 1,975 shares of the medical research company’s stock, valued at approximately $515,000.

Other large investors also recently modified their holdings of the company. State Street Corp increased its holdings in Amgen by 1.2% in the third quarter. State Street Corp now owns 29,317,018 shares of the medical research company’s stock worth $9,446,236,000 after purchasing an additional 345,537 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Amgen by 0.9% during the third quarter. Geode Capital Management LLC now owns 12,122,889 shares of the medical research company’s stock worth $3,893,771,000 after purchasing an additional 103,851 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Amgen by 2.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 10,532,629 shares of the medical research company’s stock valued at $3,393,718,000 after buying an additional 251,876 shares in the last quarter. Janus Henderson Group PLC lifted its position in Amgen by 11.7% in the 3rd quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock valued at $1,657,183,000 after acquiring an additional 538,545 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Amgen by 6.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,442,543 shares of the medical research company’s stock worth $1,431,432,000 after buying an additional 264,396 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Trading Up 1.9 %

Shares of AMGN stock opened at $315.63 on Wednesday. The stock has a market capitalization of $169.56 billion, a PE ratio of 41.81, a P/E/G ratio of 2.63 and a beta of 0.56. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. The business has a 50-day moving average of $278.13 and a 200 day moving average of $300.16.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. As a group, sell-side analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Increases Dividend

The firm also recently declared 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 a positive change from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a yield of 3.02%. Amgen’s dividend payout ratio is presently 126.09%.

Insider Transactions at Amgen

In related news, SVP Nancy A. Grygiel sold 1,589 shares of the firm’s stock in a transaction 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 completion of the sale, the senior vice president now owns 7,210 shares of the company’s stock, valued at $2,195,228.70. This trade represents a 18.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP David M. Reese sold 25,225 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the transaction, the executive vice president now directly owns 36,922 shares in the company, valued at approximately $11,240,533.68. The trade was a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,341 shares of company stock worth $20,644,335. 0.69% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

AMGN has been the topic of a number of recent analyst reports. UBS Group reissued a “hold” rating on shares of Amgen in a research report on Wednesday, February 12th. Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 price objective on shares of Amgen in a research note on Tuesday, November 12th. Truist Financial cut their price target on Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Bank of America boosted their price objective on Amgen from $256.00 to $275.00 and gave the company an “underperform” rating in a research note on Thursday, February 6th. Finally, William Blair restated an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $314.09.

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.