Investor s Fiduciary Advisor Network LLC Takes $735,000 Position in Amgen Inc. (NASDAQ:AMGN)

Investor s Fiduciary Advisor Network LLC acquired a new position in shares of Amgen Inc. (NASDAQ:AMGN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,821 shares of the medical research company’s stock, valued at approximately $735,000.

A number of other institutional investors and hedge funds have also bought and sold shares of AMGN. Beck Mack & Oliver LLC grew its holdings in shares of Amgen by 0.7% during the fourth quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company’s stock worth $1,205,000 after purchasing an additional 34 shares during the last quarter. Blossom Wealth Management boosted 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 buying an additional 37 shares during the period. Zullo Investment Group Inc. boosted its position in Amgen by 2.8% during the 4th quarter. Zullo Investment Group Inc. now owns 1,364 shares of the medical research company’s stock worth $356,000 after buying an additional 37 shares during the period. Trillium Asset Management LLC grew its holdings in Amgen by 4.2% during the 4th quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company’s stock worth $237,000 after acquiring an additional 37 shares during the last quarter. Finally, Evermay Wealth Management LLC increased its position in Amgen by 1.5% in the 4th quarter. Evermay Wealth Management LLC now owns 2,650 shares of the medical research company’s stock valued at $691,000 after acquiring an additional 38 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on AMGN. Piper Sandler boosted their price objective on shares of Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Royal Bank of Canada reduced their price target on Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Mizuho raised their price objective on Amgen from $235.00 to $280.00 and gave the stock a “neutral” rating in a research report on Wednesday. Wells Fargo & Company reiterated an “equal weight” rating on shares of Amgen in a report on Wednesday, February 5th. Finally, Johnson Rice set a $294.00 target price on shares of Amgen in a research report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Amgen has an average rating of “Hold” and a consensus target price of $310.23.

Amgen Trading Down 2.3 %

Shares of Amgen stock opened at $265.86 on Friday. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The stock has a 50 day moving average price of $296.08 and a two-hundred day moving average price of $289.69. The stock has a market capitalization of $142.94 billion, a PE ratio of 35.21, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, beating analysts’ consensus estimates of $4.18 by $0.72. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The business had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.05 billion. During the same quarter in the previous year, the business posted $3.96 EPS. Amgen’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, equities analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced 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 of this dividend is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.58%. Amgen’s dividend payout ratio is presently 86.86%.

Insider Activity at Amgen

In other news, EVP Murdo Gordon sold 8,771 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $294.79, for a total value of $2,585,603.09. Following the completion of the sale, the executive vice president now directly owns 44,186 shares of the company’s stock, valued at $13,025,590.94. This represents a 16.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP David M. Reese sold 25,225 shares of Amgen stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $304.44, for a total value of $7,679,499.00. Following the transaction, the executive vice president now directly owns 36,922 shares in the company, valued at approximately $11,240,533.68. The trade was a 40.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,707 shares of company stock valued at $12,819,342. 0.69% of the stock is owned by corporate insiders.

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.