Navigoe LLC Takes $390,000 Position in Amgen Inc. (NASDAQ:AMGN)

Navigoe LLC purchased a new position in Amgen Inc. (NASDAQ:AMGN - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,500 shares of the medical research company's stock, valued at approximately $390,000. Amgen comprises approximately 0.4% of Navigoe LLC's investment portfolio, making the stock its 27th biggest position.

Other large investors have also made changes to their positions in the company. Centricity Wealth Management LLC purchased a new position in shares of Amgen in the fourth quarter worth $25,000. Ritter Daniher Financial Advisory LLC DE increased its position in shares of Amgen by 66.2% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock valued at $33,000 after acquiring an additional 51 shares during the period. Synergy Investment Management LLC purchased a new position in Amgen in the 4th quarter worth $34,000. Atala Financial Inc acquired a new stake in Amgen during the 4th quarter worth about $34,000. Finally, Heck Capital Advisors LLC purchased a new stake in Amgen during the 4th quarter valued at about $36,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMGN has been the subject of a number of recent research reports. StockNews.com raised shares of Amgen from a "buy" rating to a "strong-buy" rating in a research report on Friday. Cantor Fitzgerald started coverage on shares of Amgen in a research report on Tuesday, April 22nd. They set a "neutral" rating and a $305.00 target price for the company. Morgan Stanley reaffirmed an "equal weight" rating on shares of Amgen in a report on Friday. Wells Fargo & Company reiterated an "equal weight" rating on shares of Amgen in a research note on Wednesday, February 5th. Finally, Citigroup restated a "neutral" rating on shares of Amgen in a research note on Wednesday, February 5th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $310.22.

Amgen Price Performance

NASDAQ AMGN traded down $2.56 during mid-day trading on Friday, hitting $281.22. The stock had a trading volume of 4,537,023 shares, compared to its average volume of 2,795,101. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. The firm's 50 day moving average is $299.66 and its 200 day moving average is $291.49. The stock has a market capitalization of $151.20 billion, a price-to-earnings ratio of 37.25, a PEG ratio of 2.63 and a beta of 0.51.

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

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be paid a $2.38 dividend. 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 dividend payout ratio (DPR) is 126.09%.

Insider Transactions at Amgen

In other news, EVP Jonathan P. Graham sold 25,045 shares of the business's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $293.12, for a total transaction of $7,341,190.40. Following the transaction, the executive vice president now owns 28,987 shares of the company's stock, valued at approximately $8,496,669.44. The trade was a 46.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of the company's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total transaction of $483,802.83. Following the completion of the sale, the senior vice president now directly owns 7,210 shares of the company's stock, valued at $2,195,228.70. This represents a 18.06 % decrease in their position. 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 in the last ninety days. Insiders own 0.69% of the company's stock.

Amgen Company 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.