Fairfield Bush & CO. Has $957,000 Position in Amgen Inc. (NASDAQ:AMGN)

Fairfield Bush & CO. raised its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 12.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 3,671 shares of the medical research company’s stock after buying an additional 404 shares during the period. Fairfield Bush & CO.’s holdings in Amgen were worth $957,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Virtu Financial LLC acquired a new stake in Amgen in the 3rd quarter valued at $1,588,000. Morse Asset Management Inc bought a new position in shares of Amgen in the 3rd quarter valued at about $806,000. Tudor Financial Inc. acquired a new stake in shares of Amgen in the third quarter valued at about $3,281,000. World Investment Advisors LLC increased its position in shares of Amgen by 48.4% in the third quarter. World Investment Advisors LLC now owns 11,083 shares of the medical research company’s stock valued at $3,571,000 after acquiring an additional 3,616 shares during the last quarter. Finally, Arvest Bank Trust Division bought a new stake in Amgen during the third quarter worth about $408,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Price Performance

NASDAQ:AMGN opened at $282.64 on Thursday. 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 $151.96 billion, a price-to-earnings ratio of 37.44, a P/E/G ratio of 2.63 and a beta of 0.59. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The firm’s 50-day simple moving average is $303.78 and its 200 day simple moving average is $294.82.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, topping the consensus estimate of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. As a group, sell-side analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be given a dividend of $2.38 per share. The ex-dividend date is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.37%. Amgen’s payout ratio is 126.09%.

Insider Transactions at Amgen

In other Amgen news, EVP David M. Reese sold 25,225 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the sale, the executive vice president now directly owns 36,922 shares in the company, valued at $11,240,533.68. This represents a 40.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jonathan P. Graham sold 25,045 shares of the business’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 transaction, the executive vice president now owns 28,987 shares of the company’s stock, valued at $8,496,669.44. The trade was a 46.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,341 shares of company stock valued at $20,644,335. 0.69% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

AMGN has been the topic of several recent analyst reports. Piper Sandler boosted their price target on Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Citigroup reissued a “neutral” rating on shares of Amgen in a research note on Wednesday, February 5th. Morgan Stanley upped their price target on shares of Amgen from $328.00 to $330.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 9th. Bank of America lifted their price objective on shares of Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a research report on Wednesday, March 5th. Finally, Truist Financial lowered their price objective on shares of Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $314.91.

Amgen 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.