Investor s Fiduciary Advisor Network LLC Buys New Position in Amgen Inc. (NASDAQ:AMGN)

Investor s Fiduciary Advisor Network LLC purchased a new position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,821 shares of the medical research company's stock, valued at approximately $735,000.

Several other hedge funds also recently made changes to their positions in AMGN. Beck Mack & Oliver LLC increased its stake in Amgen by 0.7% in the 4th quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company's stock valued at $1,205,000 after buying an additional 34 shares during the last quarter. Blossom Wealth Management increased its position in shares of Amgen by 3.5% in the fourth quarter. Blossom Wealth Management now owns 1,090 shares of the medical research company's stock valued at $284,000 after acquiring an additional 37 shares during the last quarter. Zullo Investment Group Inc. raised its holdings in Amgen by 2.8% during the fourth quarter. Zullo Investment Group Inc. now owns 1,364 shares of the medical research company's stock worth $356,000 after acquiring an additional 37 shares in the last quarter. Trillium Asset Management LLC boosted its position in Amgen by 4.2% during the fourth quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company's stock valued at $237,000 after purchasing an additional 37 shares during the last quarter. Finally, Evermay Wealth Management LLC grew its stake in Amgen by 1.5% in the fourth quarter. Evermay Wealth Management LLC now owns 2,650 shares of the medical research company's stock valued at $691,000 after purchasing an additional 38 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on AMGN shares. Mizuho upped their price objective on Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a research note on Wednesday. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Amgen in a research report on Wednesday, February 5th. StockNews.com downgraded shares of Amgen from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Morgan Stanley reaffirmed an "equal weight" rating on shares of Amgen in a report on Friday, May 2nd. 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, eleven have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $310.23.

Amgen Stock Performance

Shares of NASDAQ:AMGN opened at $265.86 on Friday. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The company's 50 day moving average price is $296.08 and its two-hundred day moving average price is $289.69. The firm has a market cap of $142.94 billion, a PE ratio of 35.21, a PEG ratio of 2.63 and a beta of 0.51. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62.

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

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be given a $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 3.58%. The ex-dividend date is Friday, May 16th. Amgen's payout ratio is presently 86.86%.

Insider Transactions at Amgen

In other news, EVP Murdo Gordon sold 8,771 shares of the business's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $294.79, for a total transaction of $2,585,603.09. Following the completion of the transaction, the executive vice president now owns 44,186 shares of the company's stock, valued at approximately $13,025,590.94. The trade was a 16.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David M. Reese sold 8,711 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $293.22, for a total value of $2,554,239.42. Following the completion of the sale, the executive vice president now directly owns 62,147 shares in the company, valued at $18,222,743.34. This trade represents a 12.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,707 shares of company stock valued at $12,819,342. Company insiders own 0.69% of the company's stock.

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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