Intrepid Capital Management Inc. Purchases 462 Shares of Amgen Inc. (NASDAQ:AMGN)

Intrepid Capital Management Inc. lifted its position in shares of Amgen Inc. (NASDAQ:AMGN) by 26.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,206 shares of the medical research company’s stock after purchasing an additional 462 shares during the quarter. Intrepid Capital Management Inc.’s holdings in Amgen were worth $575,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AMGN. Norges Bank acquired a new stake in Amgen during the 4th quarter worth $1,541,991,000. Charles Schwab Investment Management Inc. increased its holdings in Amgen by 25.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company’s stock worth $3,441,909,000 after purchasing an additional 2,672,975 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Amgen during the fourth quarter worth about $401,913,000. Franklin Resources Inc. grew its stake in shares of Amgen by 52.7% during the 4th quarter. Franklin Resources Inc. now owns 3,291,975 shares of the medical research company’s stock worth $858,020,000 after acquiring an additional 1,135,884 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of Amgen by 263.8% in the fourth quarter. Van ECK Associates Corp now owns 1,038,593 shares of the medical research company’s stock valued at $270,699,000 after purchasing an additional 753,147 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

AMGN has been the subject of a number of analyst reports. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $310.00 target price on shares of Amgen in a research report on Thursday, January 2nd. Citigroup reaffirmed a “neutral” rating on shares of Amgen in a research report on Wednesday, February 5th. StockNews.com raised Amgen from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Truist Financial lowered their price target on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Finally, Wells Fargo & Company reissued an “equal weight” rating on shares of Amgen in a report on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $314.04.

Insider Activity at Amgen

In other Amgen news, EVP David M. Reese sold 25,225 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were 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 in the company, valued at $11,240,533.68. This trade represents a 40.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Jonathan P. Graham sold 25,045 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $293.12, for a total transaction of $7,341,190.40. Following the transaction, the executive vice president now owns 28,987 shares of the company’s stock, valued at $8,496,669.44. This trade represents a 46.35 % 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 valued at $20,644,335 over the last three months. 0.69% of the stock is owned by insiders.

Amgen Price Performance

Shares of Amgen stock opened at $306.92 on Wednesday. The company has a 50-day simple moving average of $302.51 and a two-hundred day simple moving average of $297.63. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The stock has a market capitalization of $164.88 billion, a price-to-earnings ratio of 40.65, 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 results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) 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%. Analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be given a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 annualized dividend and a dividend yield of 3.10%. Amgen’s dividend payout ratio is 126.09%.

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.