OVERSEA CHINESE BANKING Corp Ltd Takes Position in Amgen Inc. (NASDAQ:AMGN)

OVERSEA CHINESE BANKING Corp Ltd bought a new stake in Amgen Inc. (NASDAQ:AMGN) in the 4th quarter, Holdings Channel.com reports. The fund bought 842 shares of the medical research company’s stock, valued at approximately $219,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in AMGN. Swedbank AB grew its stake in shares of Amgen by 1.1% during the third quarter. Swedbank AB now owns 538,899 shares of the medical research company’s stock worth $173,639,000 after purchasing an additional 5,751 shares during the period. Quest Partners LLC grew its stake in shares of Amgen by 1,568.7% during the third quarter. Quest Partners LLC now owns 1,919 shares of the medical research company’s stock worth $618,000 after purchasing an additional 1,804 shares during the period. Darwin Wealth Management LLC acquired a new stake in shares of Amgen during the third quarter worth $219,000. Payden & Rygel grew its stake in shares of Amgen by 0.6% during the third quarter. Payden & Rygel now owns 35,400 shares of the medical research company’s stock worth $11,406,000 after purchasing an additional 200 shares during the period. Finally, Citizens Financial Group Inc. RI grew its stake in shares of Amgen by 4.4% during the third quarter. Citizens Financial Group Inc. RI now owns 14,844 shares of the medical research company’s stock worth $4,783,000 after purchasing an additional 626 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Performance

AMGN opened at $315.04 on Friday. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The firm has a market capitalization of $169.24 billion, a PE ratio of 41.73, a PEG ratio of 2.63 and a beta of 0.53. 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 business’s 50-day simple moving average is $296.17 and its 200 day simple moving average is $299.14.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, topping the consensus estimate 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 expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business 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 dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 annualized dividend and a yield of 3.02%. Amgen’s payout ratio is presently 126.09%.

Analyst Ratings Changes

A number of brokerages recently commented on AMGN. Royal Bank of Canada reaffirmed an “outperform” rating and set a $324.00 price objective on shares of Amgen in a research note on Friday, January 24th. Leerink Partners decreased their price objective on Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft decreased their target price on Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Wells Fargo & Company reissued an “equal weight” rating on shares of Amgen in a research note on Wednesday, February 5th. Finally, Piper Sandler boosted their target price on Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Amgen presently has a consensus rating of “Hold” and an average target price of $314.04.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,589 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total value of $483,802.83. Following the sale, the senior vice president now owns 7,210 shares in the company, valued at $2,195,228.70. This represents a 18.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP David M. Reese sold 25,225 shares of the company’s 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 completion of the sale, the executive vice president now owns 36,922 shares in the company, valued at $11,240,533.68. This represents a 40.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,341 shares of company stock worth $20,644,335 over the last 90 days. Company insiders own 0.69% of the company’s stock.

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.