Redwood Park Advisors LLC Invests $194,000 in Amgen Inc. (NASDAQ:AMGN)

Redwood Park Advisors LLC bought a new position in shares of Amgen Inc. (NASDAQ:AMGN) in the fourth quarter, HoldingsChannel reports. The firm bought 743 shares of the medical research company’s stock, valued at approximately $194,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Talbot Financial LLC increased its position in Amgen by 5.6% during the 4th quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company’s stock worth $11,153,000 after purchasing an additional 2,274 shares in the last quarter. Asset Advisors Investment Management LLC boosted its stake in Amgen by 9.0% during the third quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company’s stock valued at $11,578,000 after buying an additional 2,954 shares in the last quarter. Ascent Wealth Partners LLC lifted its stake in Amgen by 0.7% in the 4th quarter. Ascent Wealth Partners LLC now owns 9,024 shares of the medical research company’s stock worth $2,352,000 after acquiring an additional 64 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Amgen by 6.0% during the 3rd quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company’s stock valued at $204,659,000 after acquiring an additional 35,785 shares during the last quarter. Finally, ICICI Prudential Asset Management Co Ltd grew its holdings in Amgen by 242.2% in the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 23,999 shares of the medical research company’s stock valued at $6,255,000 after buying an additional 16,985 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

AMGN has been the subject of a number of analyst reports. Bank of America lifted their price objective on Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a research note on Wednesday, March 5th. Piper Sandler Companies reiterated an “overweight” rating and issued a $310.00 price target on shares of Amgen in a research note on Thursday, January 2nd. Piper Sandler raised 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. Johnson Rice set a $294.00 target price on shares of Amgen in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $324.00 price target on shares of Amgen in a report on Friday, January 24th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Amgen presently has a consensus rating of “Moderate Buy” and an average target price of $315.22.

Amgen Price Performance

Shares of AMGN opened at $291.09 on Thursday. The stock has a market cap of $156.38 billion, a P/E ratio of 38.56, a price-to-earnings-growth ratio of 2.63 and a beta of 0.59. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The stock’s 50-day moving average price is $304.54 and its two-hundred day moving average price is $295.80. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, February 4th. The medical research company reported $5.31 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%. On average, equities analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

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 issued a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.27%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s dividend payout ratio (DPR) is 126.09%.

Insider Transactions at Amgen

In other Amgen news, EVP Murdo Gordon sold 8,771 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were 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 owns 44,186 shares in the company, valued at approximately $13,025,590.94. This represents a 16.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP David M. Reese sold 25,225 shares of the stock in a transaction that occurred on 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 sale, 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 disclosure for this sale can be found here. Insiders sold 69,341 shares of company stock valued at $20,644,335 over the last three months. Company insiders own 0.69% 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.