Beacon Financial Group Has $2.98 Million Stake in Amgen Inc. (NASDAQ:AMGN)

Beacon Financial Group reduced its holdings in Amgen Inc. (NASDAQ:AMGN) by 1.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 11,413 shares of the medical research company’s stock after selling 187 shares during the quarter. Beacon Financial Group’s holdings in Amgen were worth $2,975,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AMGN. TCV Trust & Wealth Management Inc. lifted its stake in Amgen by 0.8% in the fourth quarter. TCV Trust & Wealth Management Inc. now owns 57,270 shares of the medical research company’s stock valued at $14,927,000 after buying an additional 468 shares during the period. Leavell Investment Management Inc. increased its stake in shares of Amgen by 0.8% in the 4th quarter. Leavell Investment Management Inc. now owns 17,892 shares of the medical research company’s stock valued at $4,663,000 after acquiring an additional 136 shares during the last quarter. Fortress Financial Solutions LLC acquired a new stake in shares of Amgen in the 4th quarter valued at approximately $281,000. Augustine Asset Management Inc. boosted its stake in Amgen by 45.2% during the 4th quarter. Augustine Asset Management Inc. now owns 8,520 shares of the medical research company’s stock worth $2,221,000 after acquiring an additional 2,653 shares during the last quarter. Finally, JSF Financial LLC increased its stake in Amgen by 137.5% in the fourth quarter. JSF Financial LLC now owns 2,593 shares of the medical research company’s stock valued at $676,000 after purchasing an additional 1,501 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Nancy A. Grygiel sold 1,589 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $2,195,228.70. The trade was a 18.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 completion of the sale, the executive vice president now owns 28,987 shares in the company, valued at approximately $8,496,669.44. This trade represents a 46.35 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AMGN. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. StockNews.com cut Amgen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. Piper Sandler Companies reaffirmed an “overweight” rating and set a $310.00 price target on shares of Amgen in a research report on Thursday, January 2nd. Citigroup decreased their price objective on Amgen from $310.00 to $295.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th. Finally, Sanford C. Bernstein started coverage on shares of Amgen in a report on Thursday, October 17th. They set an “outperform” rating and a $380.00 target price on the stock. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Amgen presently has a consensus rating of “Hold” and an average target price of $314.09.

Amgen Trading Up 0.6 %

Shares of Amgen stock opened at $296.66 on Wednesday. The stock has a market cap of $159.46 billion, a P/E ratio of 39.29, a P/E/G ratio of 3.01 and a beta of 0.56. The company has a quick ratio of 0.96, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The business’s 50 day moving average is $272.59 and its 200-day moving average is $302.50.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. Equities research analysts predict that Amgen Inc. will post 20.59 earnings per share for the current fiscal year.

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be issued a dividend of $2.38 per share. The ex-dividend date is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a yield of 3.21%. This is a boost from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio (DPR) is presently 119.21%.

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.