Lane & Associates LLC Grows Position in Amgen Inc. (NASDAQ:AMGN)

Lane & Associates LLC boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 6.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,499 shares of the medical research company’s stock after purchasing an additional 85 shares during the period. Lane & Associates LLC’s holdings in Amgen were worth $428,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. AMF Tjanstepension AB boosted its stake in shares of Amgen by 16.9% in the third quarter. AMF Tjanstepension AB now owns 120,389 shares of the medical research company’s stock worth $38,825,000 after acquiring an additional 17,387 shares during the period. Swedbank AB boosted its stake in shares of Amgen by 1.1% in the third quarter. Swedbank AB now owns 538,899 shares of the medical research company’s stock worth $173,639,000 after acquiring an additional 5,751 shares during the period. Segment Wealth Management LLC boosted its stake in shares of Amgen by 5.6% in the third quarter. Segment Wealth Management LLC now owns 938 shares of the medical research company’s stock worth $302,000 after acquiring an additional 50 shares during the period. Elevated Capital Advisors LLC boosted its stake in shares of Amgen by 2.5% in the third quarter. Elevated Capital Advisors LLC now owns 1,539 shares of the medical research company’s stock worth $496,000 after acquiring an additional 38 shares during the period. Finally, Lake Street Private Wealth LLC boosted its stake in shares of Amgen by 10.1% in the third quarter. Lake Street Private Wealth LLC now owns 1,861 shares of the medical research company’s stock worth $600,000 after acquiring an additional 171 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Trading Up 1.2 %

Shares of AMGN stock opened at $297.93 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’s 50 day simple moving average is $275.62 and its two-hundred day simple moving average is $300.75. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The company has a market cap of $160.05 billion, a PE ratio of 39.46, a price-to-earnings-growth ratio of 2.54 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share 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%. Research analysts predict that Amgen Inc. will post 20.6 earnings per share for the current year.

Amgen Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be issued a dividend of $2.38 per share. This is an increase from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s dividend payout ratio (DPR) is presently 126.09%.

Wall Street Analyst Weigh In

AMGN has been the subject of a number of recent analyst reports. Piper Sandler upped their price objective on Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Deutsche Bank Aktiengesellschaft dropped their price objective on Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. UBS Group dropped their price objective on Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Redburn Partners dropped their price target on Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Finally, Leerink Partners dropped their price target on Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $314.09.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,589 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total transaction of $483,802.83. Following the transaction, the senior vice president now directly owns 7,210 shares in the company, valued at $2,195,228.70. This trade represents a 18.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Jonathan P. Graham sold 25,045 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $293.12, for a total value of $7,341,190.40. Following the sale, the executive vice president now directly owns 28,987 shares in the company, valued at $8,496,669.44. This trade represents a 46.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,405 shares of company stock worth $10,410,596 in the last ninety days. 0.69% of the stock is owned by company insiders.

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.