Beacon Harbor Wealth Advisors Inc. Invests $3.53 Million in Amgen Inc. (NASDAQ:AMGN)

Beacon Harbor Wealth Advisors Inc. purchased a new position in Amgen Inc. (NASDAQ:AMGN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 13,548 shares of the medical research company’s stock, valued at approximately $3,531,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in shares of Amgen in the 3rd quarter valued at $25,000. Centricity Wealth Management LLC bought a new stake in shares of Amgen in the 4th quarter valued at $25,000. Legacy Investment Solutions LLC bought a new stake in shares of Amgen in the 3rd quarter valued at $29,000. Synergy Investment Management LLC bought a new stake in shares of Amgen in the 4th quarter valued at $34,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of Amgen in the 4th quarter valued at $36,000. Institutional investors and hedge funds 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 the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total transaction of $483,802.83. Following the transaction, the senior vice president now directly owns 7,210 shares in the company, 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 Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David M. Reese sold 25,225 shares of the stock in a transaction that occurred 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 owns 36,922 shares in the company, valued at $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. Insiders have sold 69,341 shares of company stock worth $20,644,335 over the last ninety days. Insiders own 0.69% of the company’s stock.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $316.57 on Thursday. The company’s 50-day moving average is $283.80 and its 200 day moving average is $299.78. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. The company has a market capitalization of $170.06 billion, a P/E ratio of 41.93, a price-to-earnings-growth ratio of 2.63 and a beta of 0.56. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share 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%. On average, equities research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be given a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date is Friday, May 16th. Amgen’s payout ratio is currently 126.09%.

Analyst Ratings Changes

AMGN has been the subject of several research analyst reports. Citigroup reiterated a “neutral” rating on shares of Amgen in a research note on Wednesday, February 5th. Leerink Partners decreased their price target on shares of Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. Piper Sandler boosted their price target on shares of Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Wolfe Research initiated coverage on shares of Amgen in a research note on Friday, November 15th. They set a “peer perform” rating for the company. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Amgen currently has a consensus rating of “Hold” and an average target price of $314.95.

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.