Sig Brokerage LP Buys New Stake in Amgen Inc. (NASDAQ:AMGN)

Sig Brokerage LP acquired a new position in shares of Amgen Inc. (NASDAQ:AMGN) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,211 shares of the medical research company’s stock, valued at approximately $576,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Moody National Bank Trust Division raised its position in Amgen by 18.7% during the fourth quarter. Moody National Bank Trust Division now owns 925 shares of the medical research company’s stock worth $241,000 after acquiring an additional 146 shares during the last quarter. Grassi Investment Management raised its position in Amgen by 4.5% during the fourth quarter. Grassi Investment Management now owns 4,600 shares of the medical research company’s stock worth $1,199,000 after acquiring an additional 200 shares during the last quarter. Accurate Wealth Management LLC raised its position in Amgen by 3.6% during the fourth quarter. Accurate Wealth Management LLC now owns 2,824 shares of the medical research company’s stock worth $741,000 after acquiring an additional 99 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its position in Amgen by 4.7% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 4,538 shares of the medical research company’s stock worth $1,183,000 after acquiring an additional 204 shares during the last quarter. Finally, Godsey & Gibb Inc. raised its position in shares of Amgen by 3.3% in the fourth quarter. Godsey & Gibb Inc. now owns 64,718 shares of the medical research company’s stock valued at $16,868,000 after buying an additional 2,041 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AMGN. Wells Fargo & Company reissued an “equal weight” rating on shares of Amgen in a research report on Wednesday, February 5th. Cantor Fitzgerald started coverage on shares of Amgen in a research note on Tuesday, April 22nd. They set a “neutral” rating and a $305.00 price objective for the company. 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. Johnson Rice set a $294.00 price target on shares of Amgen in a report on Wednesday, March 5th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $315.00 price target (down from $319.00) on shares of Amgen in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $310.23.

Amgen Stock Performance

Shares of AMGN stock opened at $271.69 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 stock has a 50-day moving average of $291.93 and a 200-day moving average of $288.58. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The stock has a market cap of $146.09 billion, a PE ratio of 35.99, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51.

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

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be given a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s payout ratio is 86.86%.

Insiders Place Their Bets

In related news, EVP David M. Reese sold 25,225 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was 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 owns 36,922 shares in the company, valued at approximately $11,240,533.68. This trade represents a 40.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.76% of the company’s stock.

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.