Bellevue Group AG Boosts Stock Position in Amgen Inc. (NASDAQ:AMGN)

Bellevue Group AG grew its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 254.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 89,240 shares of the medical research company's stock after buying an additional 64,088 shares during the quarter. Bellevue Group AG's holdings in Amgen were worth $23,260,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Benjamin Edwards Inc. grew its holdings in Amgen by 7.4% during the 4th quarter. Benjamin Edwards Inc. now owns 54,417 shares of the medical research company's stock worth $14,198,000 after acquiring an additional 3,754 shares in the last quarter. BIP Wealth LLC grew its stake in Amgen by 39.2% in the fourth quarter. BIP Wealth LLC now owns 1,542 shares of the medical research company's stock worth $402,000 after purchasing an additional 434 shares in the last quarter. BLI Banque de Luxembourg Investments bought a new stake in Amgen in the fourth quarter valued at about $2,200,000. BNP Paribas raised its stake in Amgen by 12.7% during the fourth quarter. BNP Paribas now owns 18,889 shares of the medical research company's stock valued at $4,914,000 after buying an additional 2,122 shares in the last quarter. Finally, Alethea Capital Management LLC acquired a new stake in Amgen during the fourth quarter valued at approximately $347,000. Institutional investors and hedge funds own 76.50% of the company's stock.

Analyst Upgrades and Downgrades

AMGN has been the subject of a number of research analyst reports. Morgan Stanley reiterated an "equal weight" rating on shares of Amgen in a report on Friday. Piper Sandler increased their target price on shares of Amgen from $310.00 to $329.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. UBS Group reaffirmed a "neutral" rating and issued a $315.00 price target (down from $319.00) on shares of Amgen in a report on Friday. StockNews.com upgraded shares of Amgen from a "buy" rating to a "strong-buy" rating in a research note on Friday. Finally, Johnson Rice set a $294.00 target price on Amgen in a report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $308.18.

Amgen Stock Down 0.9 %

AMGN opened at $281.22 on Friday. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. The company has a market capitalization of $151.20 billion, a PE ratio of 37.25, a P/E/G ratio of 2.63 and a beta of 0.51. The stock's fifty day moving average is $299.66 and its 200-day moving average is $291.28. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly 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. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The firm had revenue of $8.15 billion for the quarter, compared to analysts' expectations of $8.05 billion. During the same period in the previous year, the business earned $3.96 earnings per share. Amgen's revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The firm 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 dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend is Friday, May 16th. Amgen's payout ratio is 126.09%.

Insiders Place Their Bets

In other news, SVP Nancy A. Grygiel sold 1,589 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total transaction of $483,802.83. Following the sale, the senior vice president now owns 7,210 shares in the company, valued at $2,195,228.70. The trade was a 18.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David M. Reese sold 25,225 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the completion of the transaction, the executive vice president now directly owns 36,922 shares of the company's stock, valued at $11,240,533.68. This represents a 40.59 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,341 shares of company stock worth $20,644,335. 0.69% of the stock is owned by insiders.

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.

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