Bellevue Group AG Has $23.26 Million Position in Amgen Inc. (NASDAQ:AMGN)

Bellevue Group AG lifted its stake in Amgen Inc. (NASDAQ:AMGN) by 254.8% during the fourth quarter, HoldingsChannel reports. The fund owned 89,240 shares of the medical research company’s stock after purchasing an additional 64,088 shares during the quarter. Bellevue Group AG’s holdings in Amgen were worth $23,260,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Amgen by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 52,721,795 shares of the medical research company’s stock valued at $13,741,409,000 after buying an additional 339,522 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in 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 acquiring an additional 2,672,975 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Amgen by 2.9% during 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 purchasing an additional 352,143 shares during the last quarter. Capital International Investors raised its holdings 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 purchasing an additional 3,495,503 shares in the last quarter. Finally, Capital World Investors lifted its stake 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 purchasing an additional 6,029,058 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Royal Bank of Canada cut their target price on Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a report on Friday. StockNews.com upgraded Amgen from a “buy” rating to a “strong-buy” rating in a report on Friday. Truist Financial lowered their price target on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Cantor Fitzgerald initiated coverage on shares of Amgen in a research note on Tuesday, April 22nd. They issued a “neutral” rating and a $305.00 price objective for the company. Finally, Piper Sandler raised their target price on shares of Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Amgen currently has an average rating of “Hold” and an average target price of $308.18.

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 1,589 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total value of $483,802.83. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David M. Reese sold 25,225 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the transaction, the executive vice president now owns 36,922 shares in the company, valued at approximately $11,240,533.68. The trade was a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,341 shares of company stock valued at $20,644,335. 0.69% of the stock is owned by insiders.

Amgen Trading Down 0.9 %

Shares of NASDAQ:AMGN opened at $281.22 on Friday. The firm has a market cap 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 Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The company’s fifty day simple moving average is $299.66 and its 200 day simple moving average is $291.28. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.18 by $0.72. The business had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. Amgen had a return on equity of 176.32% and a net margin of 12.24%. Amgen’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the company earned $3.96 earnings per share. As a group, research analysts forecast that Amgen Inc. will post 20.62 EPS for the current fiscal 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 issued a $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 3.39%. The ex-dividend date is Friday, May 16th. Amgen’s payout ratio is 126.09%.

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.