Savvy Advisors Inc. Invests $11.32 Million in Amgen Inc. (NASDAQ:AMGN)

Savvy Advisors Inc. acquired a new position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 39,297 shares of the medical research company's stock, valued at approximately $11,318,000. Amgen comprises about 11.0% of Savvy Advisors Inc.'s holdings, making the stock its biggest holding.

Several other large investors have also modified their holdings of the stock. Briaud Financial Planning Inc acquired a new position in shares of Amgen in the 3rd quarter valued at $26,000. BOK Financial Private Wealth Inc. purchased a new stake in shares of Amgen in the fourth quarter valued at about $29,000. OFI Invest Asset Management acquired a new stake in shares of Amgen during the third quarter worth about $26,000. Planned Solutions Inc. purchased a new position in shares of Amgen during the fourth quarter worth about $30,000. Finally, Delos Wealth Advisors LLC raised its stake in Amgen by 2,500.0% during the 4th quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company's stock valued at $30,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 2,117 shares of the firm's stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $313.09, for a total value of $662,811.53. Following the sale, the senior vice president now directly owns 9,883 shares of the company's stock, valued at $3,094,268.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.69% of the stock is currently owned by company insiders.

Amgen Price Performance

Amgen stock traded down $4.32 during midday trading on Thursday, reaching $314.72. 2,367,087 shares of the company were exchanged, compared to its average volume of 2,879,180. The firm's 50-day simple moving average is $279.75 and its 200-day simple moving average is $283.39. Amgen Inc. has a 1 year low of $211.71 and a 1 year high of $329.72. The company has a market capitalization of $168.83 billion, a price-to-earnings ratio of 44.86, a P/E/G ratio of 2.77 and a beta of 0.60. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, beating analysts' consensus estimates of $3.76 by $0.20. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The business had revenue of $7.45 billion during the quarter, compared to analyst estimates of $7.45 billion. During the same quarter in the previous year, the business posted $3.98 earnings per share. The company's revenue was up 22.0% on a year-over-year basis. On average, analysts anticipate that Amgen Inc. will post 19.46 EPS for the current year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be paid a $2.25 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $9.00 annualized dividend and a yield of 2.86%. Amgen's payout ratio is currently 128.57%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AMGN. UBS Group lifted their target price on Amgen from $284.00 to $307.00 and gave the company a "neutral" rating in a research note on Friday, May 3rd. Raymond James began coverage on shares of Amgen in a research note on Thursday, March 28th. They issued a "market perform" rating for the company. The Goldman Sachs Group lifted their target price on shares of Amgen from $313.00 to $350.00 and gave the company a "buy" rating in a report on Wednesday, February 7th. StockNews.com upgraded shares of Amgen from a "hold" rating to a "buy" rating in a research report on Friday, May 3rd. Finally, Barclays raised Amgen from an "underweight" rating to an "equal weight" rating and lifted their price objective for the company from $230.00 to $300.00 in a report on Friday, May 3rd. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Amgen presently has an average rating of "Moderate Buy" and a consensus price target of $305.65.

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.