Prodigy Asset Management LLC Makes New $268,000 Investment in Amgen Inc. (NASDAQ:AMGN)

Prodigy Asset Management LLC bought a new position in Amgen Inc. (NASDAQ:AMGN - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,028 shares of the medical research company's stock, valued at approximately $268,000. Amgen makes up about 0.2% of Prodigy Asset Management LLC's investment portfolio, making the stock its 21st biggest position.

A number of other hedge funds and other institutional investors have also made changes to their positions in AMGN. Centricity Wealth Management LLC acquired a new stake in shares of Amgen during the fourth quarter valued at approximately $25,000. Ritter Daniher Financial Advisory LLC DE raised its holdings in shares of Amgen by 66.2% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock valued at $33,000 after acquiring an additional 51 shares during the period. Synergy Investment Management LLC acquired a new stake in shares of Amgen during the fourth quarter valued at approximately $34,000. Atala Financial Inc acquired a new stake in shares of Amgen during the fourth quarter valued at approximately $34,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Amgen during the fourth quarter valued at approximately $36,000. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Performance

AMGN traded up $0.72 during trading on Friday, hitting $272.41. The stock had a trading volume of 2,588,369 shares, compared to its average volume of 2,792,425. The firm has a market cap of $146.48 billion, a PE ratio of 36.08, a P/E/G ratio of 2.63 and a beta of 0.51. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The company has a 50 day simple moving average of $291.00 and a 200-day simple moving average of $288.09.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, topping the consensus estimate of $4.18 by $0.72. The firm had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.05 billion. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The business's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the firm posted $3.96 EPS. Analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be issued a $2.38 dividend. The ex-dividend date is Friday, May 16th. This represents a $9.52 annualized dividend and a yield of 3.49%. Amgen's dividend payout ratio (DPR) is presently 86.86%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AMGN. Piper Sandler cut their price target on shares of Amgen from $329.00 to $328.00 and set an "overweight" rating on the stock in a report on Friday. Citigroup reaffirmed a "neutral" rating on shares of Amgen in a research report on Wednesday, February 5th. Bank of America boosted their price objective on shares of Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a research report on Wednesday, March 5th. Erste Group Bank downgraded shares of Amgen from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Finally, Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Amgen in a research report on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $310.18.

Insider Buying and Selling

In other Amgen news, EVP David M. Reese sold 8,711 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $293.22, for a total value of $2,554,239.42. Following the completion of the transaction, the executive vice president now owns 62,147 shares of the company's stock, valued at $18,222,743.34. This represents a 12.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.76% of the company's stock.

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.