LM Advisors LLC Makes New Investment in Amgen Inc. (NASDAQ:AMGN)

LM Advisors LLC purchased a new stake in Amgen Inc. (NASDAQ:AMGN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,460 shares of the medical research company’s stock, valued at approximately $641,000.

A number of other institutional investors and hedge funds have also modified their holdings of AMGN. Vanguard Group Inc. raised its holdings in Amgen by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 52,721,795 shares of the medical research company’s stock worth $13,741,409,000 after acquiring an additional 339,522 shares during the period. State Street Corp increased its stake in shares of Amgen by 1.2% in the third quarter. State Street Corp now owns 29,317,018 shares of the medical research company’s stock worth $9,446,236,000 after purchasing an additional 345,537 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Amgen by 25.4% in the fourth 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 purchasing an additional 2,672,975 shares during the period. Geode Capital Management LLC lifted its position in shares of Amgen by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 12,122,889 shares of the medical research company’s stock worth $3,893,771,000 after purchasing an additional 103,851 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in Amgen by 11.7% during the 3rd quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock valued at $1,657,183,000 after purchasing an additional 538,545 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Citigroup reiterated a “neutral” rating on shares of Amgen in a report on Wednesday, February 5th. Royal Bank of Canada reiterated an “outperform” rating and set a $324.00 target price on shares of Amgen in a research note on Friday, January 24th. Wells Fargo & Company restated an “equal weight” rating on shares of Amgen in a research report on Wednesday, February 5th. Piper Sandler Companies reaffirmed an “overweight” rating and set a $310.00 price objective on shares of Amgen in a research report on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Amgen presently has a consensus rating of “Hold” and an average target price of $314.04.

Insider Buying and Selling

In other news, SVP Nancy A. Grygiel sold 1,589 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total transaction of $483,802.83. Following the transaction, the senior vice president now directly owns 7,210 shares in the company, valued at approximately $2,195,228.70. This represents a 18.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jonathan P. Graham sold 25,045 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 28,987 shares of the company’s stock, valued at approximately $8,496,669.44. This represents a 46.35 % 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 90 days. Corporate insiders own 0.69% of the company’s stock.

Amgen Price Performance

Shares of Amgen stock opened at $305.71 on Thursday. The stock has a market capitalization of $164.23 billion, a price-to-earnings ratio of 40.49, a P/E/G ratio of 2.63 and a beta of 0.53. The firm’s 50-day moving average price is $299.66 and its two-hundred day moving average price is $298.46. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, topping analysts’ consensus estimates of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. On average, equities analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be issued a $2.38 dividend. The ex-dividend date is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.11%. Amgen’s dividend payout ratio is 126.09%.

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.