Arrow Financial Corp Purchases 909 Shares of Amgen Inc. (NASDAQ:AMGN)

Arrow Financial Corp boosted its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 6.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,597 shares of the medical research company's stock after purchasing an additional 909 shares during the period. Arrow Financial Corp's holdings in Amgen were worth $4,065,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Centricity Wealth Management LLC acquired a new position in Amgen during the 4th quarter worth $25,000. Ritter Daniher Financial Advisory LLC DE lifted its stake 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 position in shares of Amgen during the fourth quarter valued at $34,000. Atala Financial Inc bought a new position in Amgen in the fourth quarter valued at about $34,000. Finally, Heck Capital Advisors LLC acquired a new stake in Amgen in the fourth quarter worth about $36,000. Institutional investors own 76.50% of the company's stock.

Amgen Stock Down 0.9 %

Amgen stock traded down $2.56 during midday trading on Friday, reaching $281.22. The stock had a trading volume of 4,537,023 shares, compared to its average volume of 2,767,592. The stock has a market capitalization of $151.20 billion, a P/E ratio of 37.25, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. The firm's fifty day simple moving average is $299.66 and its 200-day simple moving average is $291.28. 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 Inc. has a 1-year low of $253.30 and a 1-year high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.18 by $0.72. The company 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 firm's revenue was up 9.4% compared to the same quarter last year. During the same period last year, the company earned $3.96 earnings per share. As a group, analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The business 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 annualized dividend and a dividend yield of 3.39%. The ex-dividend date is Friday, May 16th. Amgen's dividend payout ratio (DPR) is 126.09%.

Insider Transactions at Amgen

In other news, EVP Murdo Gordon sold 8,771 shares of the company'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 sale, the executive vice president now directly owns 44,186 shares of the company's stock, valued at approximately $13,025,590.94. This represents a 16.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Nancy A. Grygiel sold 1,589 shares of Amgen stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total value of $483,802.83. Following the transaction, the senior vice president now owns 7,210 shares of the company's stock, valued at $2,195,228.70. The trade was a 18.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,341 shares of company stock worth $20,644,335 in the last 90 days. Corporate insiders own 0.69% of the company's stock.

Wall Street Analysts Forecast Growth

AMGN has been the topic of a number of research reports. Bank of America upped their target price 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. Royal Bank of Canada cut their price objective on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a report on Friday. Truist Financial lowered their target price on shares of Amgen from $333.00 to $298.00 and set a "hold" rating for the company in a report on Wednesday, January 8th. UBS Group reissued a "neutral" rating and issued a $315.00 price target (down previously from $319.00) on shares of Amgen in a research note on Friday. Finally, Piper Sandler lifted their price objective on Amgen from $310.00 to $329.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $308.18.

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.