Mystic Asset Management Inc. Increases Stock Position in Amgen Inc. (NASDAQ:AMGN)

Mystic Asset Management Inc. raised its position in shares of Amgen Inc. (NASDAQ:AMGN) by 75.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,267 shares of the medical research company’s stock after buying an additional 546 shares during the period. Mystic Asset Management Inc.’s holdings in Amgen were worth $330,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AMGN. Swedbank AB lifted its position in shares of Amgen by 1.1% in the 3rd 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 increased its stake in shares of Amgen by 1,568.7% in the 3rd quarter. Quest Partners LLC now owns 1,919 shares of the medical research company’s stock worth $618,000 after acquiring an additional 1,804 shares in the last quarter. Joseph Group Capital Management lifted its position in Amgen by 15.7% during the 3rd quarter. Joseph Group Capital Management now owns 8,633 shares of the medical research company’s stock valued at $2,782,000 after acquiring an additional 1,169 shares during the period. Pathstone Holdings LLC boosted its stake in Amgen by 1.7% during the third quarter. Pathstone Holdings LLC now owns 98,605 shares of the medical research company’s stock worth $31,772,000 after acquiring an additional 1,694 shares in the last quarter. Finally, Caprock Group LLC grew its holdings in Amgen by 6.6% in the third quarter. Caprock Group LLC now owns 16,424 shares of the medical research company’s stock worth $5,292,000 after purchasing an additional 1,017 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Amgen

In other news, SVP Nancy A. Grygiel sold 1,589 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president now directly owns 7,210 shares in the company, valued at $2,195,228.70. This represents a 18.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP David M. Reese sold 25,225 shares of the company’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 completion of the sale, the executive vice president now owns 36,922 shares of the company’s stock, valued at $11,240,533.68. This trade represents a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,341 shares of company stock worth $20,644,335 in the last three months. Corporate insiders own 0.69% of the company’s stock.

Amgen Price Performance

NASDAQ AMGN opened at $318.65 on Wednesday. The business’s fifty day moving average price is $294.12 and its 200-day moving average price is $298.91. The stock has a market capitalization of $171.18 billion, a price-to-earnings ratio of 42.21, a PEG ratio of 2.63 and a beta of 0.53. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85.

Amgen (NASDAQ:AMGN) last released its quarterly 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%. On average, equities analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be paid a $2.38 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 annualized dividend and a dividend yield of 2.99%. Amgen’s dividend payout ratio (DPR) is 126.09%.

Analysts Set New Price Targets

AMGN has been the subject of several recent research reports. Bank of America lifted their target price on shares of Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft cut their price target on Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Piper Sandler upped their price target on Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Citigroup restated a “neutral” rating on shares of Amgen in a research note on Wednesday, February 5th. Finally, Wells Fargo & Company restated an “equal weight” rating on shares of Amgen in a research note on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $314.04.

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.