Parvin Asset Management LLC Buys New Shares in Amgen Inc. (NASDAQ:AMGN)

Parvin Asset Management LLC bought a new position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,585 shares of the medical research company's stock, valued at approximately $1,456,000. Amgen comprises 1.5% of Parvin Asset Management LLC's portfolio, making the stock its 11th biggest position.

Several other institutional investors also recently bought and sold shares of AMGN. Vanguard Group Inc. grew its holdings in shares of Amgen by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 52,721,795 shares of the medical research company's stock valued at $13,741,409,000 after purchasing an additional 339,522 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Amgen by 25.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company's stock worth $3,441,909,000 after buying an additional 2,672,975 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Amgen by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 12,475,032 shares of the medical research company's stock worth $3,245,881,000 after buying an additional 352,143 shares during the last quarter. Capital International Investors raised its position in shares of Amgen by 40.1% during the 4th quarter. Capital International Investors now owns 12,212,065 shares of the medical research company's stock valued at $3,182,843,000 after buying an additional 3,495,503 shares in the last quarter. Finally, Capital World Investors lifted its holdings in shares of Amgen by 1,292.0% in the 4th quarter. Capital World Investors now owns 6,495,710 shares of the medical research company's stock valued at $1,693,042,000 after acquiring an additional 6,029,058 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Bank of America upped their price objective on Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a research report on Wednesday, March 5th. Morgan Stanley restated an "equal weight" rating on shares of Amgen in a research report on Friday. Truist Financial cut their price objective on shares of Amgen from $333.00 to $298.00 and set a "hold" rating on the stock in a research report on Wednesday, January 8th. Cantor Fitzgerald assumed coverage on shares of Amgen in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $305.00 target price for the company. Finally, Citigroup reiterated 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 given a hold rating, ten have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Amgen has a consensus rating of "Moderate Buy" and a consensus price target of $310.22.

Amgen Stock Down 0.9 %

Amgen stock traded down $2.56 during mid-day trading on Friday, reaching $281.22. 4,537,023 shares of the company were exchanged, compared to its average volume of 2,795,101. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. The firm has a market cap of $151.20 billion, a P/E ratio of 37.25, a PEG ratio of 2.63 and a beta of 0.51. The business has a fifty day moving average of $299.66 and a 200 day moving average of $291.49. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85.

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

Amgen Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date is Friday, May 16th. Amgen's payout ratio is currently 126.09%.

Insider Buying and Selling

In related news, EVP Jonathan P. Graham sold 25,045 shares of the company's stock in a transaction dated Friday, February 7th. The stock was 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 directly owns 28,987 shares of the company's stock, valued at $8,496,669.44. This represents a 46.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of the firm's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total value 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 approximately $2,195,228.70. This represents a 18.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,341 shares of company stock worth $20,644,335 in the last 90 days. 0.69% of the stock is owned by corporate insiders.

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.