Portland Global Advisors LLC Buys 205 Shares of Amgen Inc. (NASDAQ:AMGN)

Portland Global Advisors LLC increased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 0.9% during the 4th quarter, Holdings Channel reports. The firm owned 23,755 shares of the medical research company’s stock after acquiring an additional 205 shares during the period. Portland Global Advisors LLC’s holdings in Amgen were worth $6,192,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in AMGN. Centricity Wealth Management LLC purchased a new stake in Amgen during the fourth quarter valued at $25,000. Legacy Investment Solutions LLC purchased a new position in Amgen during the 3rd quarter worth $29,000. Synergy Investment Management LLC purchased a new stake in shares of Amgen in the 4th quarter worth approximately $34,000. Atala Financial Inc bought a new position in shares of Amgen in the 4th quarter worth $34,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of Amgen in the 4th quarter worth approximately $36,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Amgen

In other news, EVP David M. Reese sold 25,225 shares of the firm’s 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 completion of the transaction, the executive vice president now directly owns 36,922 shares of the company’s stock, valued at approximately $11,240,533.68. This trade represents a 40.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the executive vice president now directly owns 44,186 shares of the company’s stock, valued at approximately $13,025,590.94. The trade was a 16.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,341 shares of company stock valued at $20,644,335 in the last 90 days. 0.69% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AMGN. Truist Financial cut their price objective on shares of Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Citigroup reiterated a “neutral” rating on shares of Amgen in a research report on Wednesday, February 5th. UBS Group reissued a “hold” rating on shares of Amgen in a report on Wednesday, February 12th. Johnson Rice set a $294.00 target price on Amgen in a research report on Wednesday, March 5th. Finally, Wells Fargo & Company restated an “equal weight” rating on shares of Amgen in a research report on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Amgen presently has an average rating of “Moderate Buy” and an average price target of $314.04.

Amgen Stock Up 0.4 %

AMGN stock opened at $306.95 on Friday. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. The firm has a market cap of $164.90 billion, a PE ratio of 40.66, a P/E/G ratio of 2.63 and a beta of 0.53. The firm has a 50 day simple moving average of $301.08 and a 200 day simple moving average of $298.16. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, beating 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%. Equities research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be given a $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 3.10%. The ex-dividend date is Friday, May 16th. Amgen’s dividend payout ratio is currently 126.09%.

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.