Capital Advantage Inc. Purchases New Shares in Amgen Inc. (NASDAQ:AMGN)

Capital Advantage Inc. acquired a new position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,094 shares of the medical research company's stock, valued at approximately $806,000.

Other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its stake in 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 buying an additional 35,785 shares during the period. Nordea Investment Management AB raised its position in Amgen by 40.7% during the 4th quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company's stock valued at $609,526,000 after purchasing an additional 676,598 shares during the last quarter. Pensionfund Sabic lifted its position in shares of Amgen by 44.6% in the 4th quarter. Pensionfund Sabic now owns 8,100 shares of the medical research company's stock worth $2,111,000 after purchasing an additional 2,500 shares during the period. Legacy Wealth Management LLC MS boosted its position in Amgen by 115.1% during the 4th quarter. Legacy Wealth Management LLC MS now owns 1,936 shares of the medical research company's stock valued at $505,000 after acquiring an additional 1,036 shares in the last quarter. Finally, CWA Asset Management Group LLC grew its stake in Amgen by 16.2% in the fourth quarter. CWA Asset Management Group LLC now owns 6,198 shares of the medical research company's stock worth $1,615,000 after purchasing an additional 863 shares during the period. Institutional investors own 76.50% of the company's stock.

Amgen Stock Down 0.4 %

Shares of NASDAQ:AMGN opened at $280.06 on Tuesday. 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 firm has a market cap of $150.57 billion, a PE ratio of 37.09, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. The company has a fifty day simple moving average of $299.13 and a 200 day simple moving average of $290.78.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $8.15 billion for the quarter, compared to analysts' expectations of $8.05 billion. During the same period last year, the business posted $3.96 earnings per share. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities research analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be paid a $2.38 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 annualized dividend and a dividend yield of 3.40%. Amgen's payout ratio is 126.09%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Piper Sandler upped their target price on shares of Amgen from $310.00 to $329.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. Morgan Stanley restated an "equal weight" rating on shares of Amgen in a research report on Friday. Cantor Fitzgerald initiated coverage on shares of Amgen in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $305.00 target price on the stock. StockNews.com upgraded shares of Amgen from a "buy" rating to a "strong-buy" rating in a report on Friday. Finally, Citigroup reissued a "neutral" rating on shares of Amgen in a report on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $308.18.

Insider Activity at Amgen

In other news, EVP David M. Reese sold 25,225 shares of the business's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the transaction, the executive vice president now directly owns 36,922 shares in the company, valued at $11,240,533.68. The trade was a 40.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total value of $483,802.83. Following the sale, the senior vice president now owns 7,210 shares of the company's stock, valued at approximately $2,195,228.70. This represents a 18.06 % decrease in their ownership of the stock. 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 over the last ninety days. 0.69% of the stock is currently owned by corporate 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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