Tandem Investment Partners LLC Takes $455,000 Position in Amgen Inc. (NASDAQ:AMGN)

Tandem Investment Partners LLC bought a new position in Amgen Inc. (NASDAQ:AMGN) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 1,747 shares of the medical research company’s stock, valued at approximately $455,000.

Several other large investors also recently bought and sold shares of the stock. Blossom Wealth Management lifted its position in Amgen by 3.5% during the 4th quarter. Blossom Wealth Management now owns 1,090 shares of the medical research company’s stock worth $284,000 after acquiring an additional 37 shares during the period. Zullo Investment Group Inc. lifted its holdings in shares of 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 purchasing an additional 37 shares during the period. Trillium Asset Management LLC grew its position in Amgen by 4.2% in the 4th quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company’s stock valued at $237,000 after buying an additional 37 shares during the last quarter. Prestige Wealth Management Group LLC increased its stake in Amgen by 2.8% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 1,387 shares of the medical research company’s stock valued at $447,000 after buying an additional 38 shares during the period. Finally, Evermay Wealth Management LLC raised its position in Amgen by 1.5% during the 4th quarter. Evermay Wealth Management LLC now owns 2,650 shares of the medical research company’s stock worth $691,000 after buying an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insider Transactions at Amgen

In related news, EVP Jonathan P. Graham sold 25,045 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $293.12, for a total value 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 approximately $8,496,669.44. This trade represents a 46.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Nancy A. Grygiel sold 1,589 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total value of $483,802.83. Following 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 trade 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 three months. Company insiders own 0.69% of the company’s stock.

Amgen Stock Down 1.6 %

Shares of NASDAQ AMGN opened at $289.69 on Tuesday. The firm’s 50 day moving average price is $304.31 and its 200 day moving average price is $296.66. 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 $155.62 billion, a P/E ratio of 38.37, a price-to-earnings-growth ratio of 2.63 and a beta of 0.59. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, beating 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%. As a group, sell-side analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be paid a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s dividend payout ratio is currently 126.09%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Piper Sandler lifted their target price on shares of Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $310.00 price objective on shares of Amgen in a report on Thursday, January 2nd. UBS Group reissued a “hold” rating on shares of Amgen in a research note on Wednesday, February 12th. Bank of America lifted their price target on Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a research note on Wednesday, March 5th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $324.00 target price on shares of Amgen in a research report on Friday, January 24th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.04.

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.