Antonelli Financial Advisors LLC Acquires New Holdings in Amgen Inc. (NASDAQ:AMGN)

Antonelli Financial Advisors LLC acquired a new position in Amgen Inc. (NASDAQ:AMGN) during the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 3,149 shares of the medical research company’s stock, valued at approximately $821,000. Amgen accounts for about 0.7% of Antonelli Financial Advisors LLC’s portfolio, making the stock its 22nd biggest holding.

A number of other institutional investors have also recently bought and sold shares of the stock. Whittier Trust Co. of Nevada Inc. grew its stake in Amgen by 1.0% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 21,953 shares of the medical research company’s stock valued at $5,722,000 after purchasing an additional 228 shares in the last quarter. Holderness Investments Co. boosted its holdings in Amgen by 13.9% during the fourth quarter. Holderness Investments Co. now owns 7,626 shares of the medical research company’s stock valued at $1,988,000 after acquiring an additional 928 shares during the period. Blueshift Asset Management LLC bought a new position in Amgen in the 4th quarter worth approximately $345,000. Viawealth LLC raised its stake in Amgen by 0.9% during the 4th quarter. Viawealth LLC now owns 7,594 shares of the medical research company’s stock valued at $1,979,000 after purchasing an additional 66 shares during the last quarter. Finally, iA Global Asset Management Inc. grew its position in Amgen by 5.8% during the fourth quarter. iA Global Asset Management Inc. now owns 57,938 shares of the medical research company’s stock worth $15,101,000 after buying an additional 3,164 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

AMGN has been the subject of several analyst reports. Truist Financial cut their target price on Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $324.00 price objective on shares of Amgen in a report on Friday, January 24th. StockNews.com cut shares of Amgen from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Piper Sandler upped their price objective on Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Finally, Bank of America lifted their price target on shares of Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a research report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $314.04.

Amgen Stock Down 0.2 %

AMGN stock opened at $315.04 on Friday. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The business has a 50 day moving average of $296.17 and a 200 day moving average of $299.14. The firm has a market cap of $169.24 billion, a PE ratio of 41.73, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53. 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 (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, beating 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, research analysts forecast that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be issued a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.02%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s dividend payout ratio is currently 126.09%.

Insider Buying and Selling

In other news, EVP Murdo Gordon sold 8,771 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $294.79, for a total value of $2,585,603.09. Following the completion of the sale, the executive vice president now owns 44,186 shares in the company, valued at approximately $13,025,590.94. This trade represents a 16.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jonathan P. Graham sold 25,045 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $293.12, for a total value of $7,341,190.40. Following the transaction, the executive vice president now owns 28,987 shares of the company’s stock, valued at approximately $8,496,669.44. The trade was a 46.35 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,341 shares of company stock valued at $20,644,335. Company insiders own 0.69% of the company’s stock.

About Amgen

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.