Cutter Capital Management LP acquired a new stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 38,090 shares of the medical research company's stock, valued at approximately $9,928,000. Amgen makes up about 4.1% of Cutter Capital Management LP's portfolio, making the stock its 11th biggest position.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Talbot Financial LLC grew its position in shares of Amgen by 5.6% in the 4th quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company's stock worth $11,153,000 after buying an additional 2,274 shares during the period. Ascent Wealth Partners LLC raised its holdings in Amgen by 0.7% in the 4th quarter. Ascent Wealth Partners LLC now owns 9,024 shares of the medical research company's stock worth $2,352,000 after acquiring an additional 64 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Amgen by 6.0% during the third quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company's stock valued at $204,659,000 after purchasing an additional 35,785 shares in the last quarter. ICICI Prudential Asset Management Co Ltd boosted its holdings in Amgen by 242.2% in the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 23,999 shares of the medical research company's stock worth $6,255,000 after purchasing an additional 16,985 shares during the last quarter. Finally, PFW Advisors LLC bought a new stake in shares of Amgen during the 4th quarter valued at about $1,105,000. Hedge funds and other institutional investors own 76.50% of the company's stock.
Insiders Place Their Bets
In related news, SVP Nancy A. Grygiel sold 1,589 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total transaction of $483,802.83. Following the completion of the transaction, the senior vice president now owns 7,210 shares in the company, valued at $2,195,228.70. This trade represents a 18.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jonathan P. Graham sold 25,045 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $293.12, for a total value of $7,341,190.40. Following the sale, the executive vice president now owns 28,987 shares in the company, valued at approximately $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 worth $20,644,335 in the last ninety days. Insiders own 0.69% of the company's stock.
Amgen Stock Down 0.4 %
NASDAQ:AMGN opened at $280.06 on Tuesday. The company has a market capitalization of $150.57 billion, a price-to-earnings ratio of 37.09, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The stock has a 50-day simple moving average of $299.13 and a 200 day simple moving average of $290.78. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26.
Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.18 by $0.72. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The company had revenue of $8.15 billion for the quarter, compared to analysts' expectations of $8.05 billion. During the same period last year, the firm earned $3.96 EPS. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. Sell-side analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.
Amgen Dividend Announcement
The firm also recently disclosed 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 is Friday, May 16th. This represents a $9.52 annualized dividend and a dividend yield of 3.40%. Amgen's dividend payout ratio is presently 126.09%.
Analyst Ratings Changes
A number of equities research analysts have commented on the company. Royal Bank of Canada decreased their price target on Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a report on Friday. Morgan Stanley reaffirmed an "equal weight" rating on shares of Amgen in a research note on Friday. Truist Financial lowered their price objective on shares of Amgen from $333.00 to $298.00 and set a "hold" rating for the company in a research note on Wednesday, January 8th. Wells Fargo & Company reiterated an "equal weight" rating on shares of Amgen in a report on Wednesday, February 5th. Finally, Bank of America raised their target price on shares of Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a research note on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $308.18.
Check Out Our Latest Stock Analysis on Amgen
Amgen Profile
(
Free Report)
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.
Further Reading
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