Tidal Investments LLC Boosts Stock Position in Amgen Inc. (NASDAQ:AMGN)

Tidal Investments LLC increased its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 39.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 34,078 shares of the medical research company's stock after buying an additional 9,598 shares during the period. Tidal Investments LLC's holdings in Amgen were worth $8,882,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. TrinityPoint Wealth LLC grew its stake in shares of Amgen by 5.7% in the 4th quarter. TrinityPoint Wealth LLC now owns 8,846 shares of the medical research company's stock worth $2,306,000 after buying an additional 477 shares during the last quarter. Strategic Wealth Partners Ltd. grew its stake in shares of Amgen by 1.2% in the 4th quarter. Strategic Wealth Partners Ltd. now owns 12,491 shares of the medical research company's stock worth $3,256,000 after buying an additional 153 shares during the last quarter. Strive Asset Management LLC purchased a new stake in shares of Amgen in the 4th quarter worth approximately $652,000. Tema Etfs LLC purchased a new stake in shares of Amgen in the 4th quarter worth approximately $2,914,000. Finally, Studio Investment Management LLC grew its stake in shares of Amgen by 0.9% in the 4th quarter. Studio Investment Management LLC now owns 12,390 shares of the medical research company's stock worth $3,229,000 after buying an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Insider Buying and Selling at Amgen

In other news, EVP David M. Reese sold 25,225 shares of Amgen stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $304.44, for a total value of $7,679,499.00. Following the sale, the executive vice president now directly owns 36,922 shares of the company's stock, valued at approximately $11,240,533.68. The trade was a 40.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.76% of the company's stock.

Amgen Price Performance

NASDAQ:AMGN opened at $275.85 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The business's 50-day simple moving average is $290.27 and its two-hundred day simple moving average is $287.56. The stock has a market cap of $148.33 billion, a PE ratio of 36.54, a P/E/G ratio of 2.63 and a beta of 0.51. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85.

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

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be issued a dividend of $2.38 per share. The ex-dividend date is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a yield of 3.45%. Amgen's dividend payout ratio is presently 86.86%.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Royal Bank of Canada cut their target price on Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Morgan Stanley reiterated an "equal weight" rating on shares of Amgen in a research note on Friday, May 2nd. UBS Group reiterated a "neutral" rating and set a $315.00 target price (down from $319.00) on shares of Amgen in a research note on Friday, May 2nd. Johnson Rice set a $294.00 target price on Amgen in a research note on Wednesday, March 5th. Finally, Mizuho increased their target price on Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $310.18.

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.

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