Fortress Financial Solutions LLC Takes $281,000 Position in Amgen Inc. (NASDAQ:AMGN)

Fortress Financial Solutions LLC bought a new position in Amgen Inc. (NASDAQ:AMGN) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,078 shares of the medical research company’s stock, valued at approximately $281,000.

Several other institutional investors have also added to or reduced their stakes in the company. State Street Corp boosted its position in shares of Amgen by 1.2% during the 3rd quarter. State Street Corp now owns 29,317,018 shares of the medical research company’s stock valued at $9,446,236,000 after acquiring an additional 345,537 shares during the last quarter. Geode Capital Management LLC lifted its position in Amgen by 0.9% during the third quarter. Geode Capital Management LLC now owns 12,122,889 shares of the medical research company’s stock valued at $3,893,771,000 after purchasing an additional 103,851 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Amgen by 2.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,532,629 shares of the medical research company’s stock worth $3,393,718,000 after buying an additional 251,876 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Amgen by 11.7% in the 3rd quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock worth $1,657,183,000 after buying an additional 538,545 shares during the last quarter. Finally, Pathway Financial Advisers LLC increased its holdings in shares of Amgen by 33,125.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock worth $1,437,115,000 after buying an additional 4,446,757 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on AMGN shares. Truist Financial dropped their price target on Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Wolfe Research began coverage on Amgen in a research report on Friday, November 15th. They issued a “peer perform” rating for the company. Sanford C. Bernstein began coverage on shares of Amgen in a report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 target price for the company. Leerink Partners cut their price target on shares of Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Finally, Redburn Partners cut their target price on Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $314.09.

Amgen Stock Up 0.6 %

Amgen stock opened at $296.66 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The firm 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 business has a fifty day moving average of $272.59 and a two-hundred day moving average of $302.50. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85.

Amgen (NASDAQ:AMGN) last released its quarterly 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, analysts forecast 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. Stockholders of record on Friday, February 14th will be paid a dividend of $2.38 per share. This is a positive change from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.21%. Amgen’s payout ratio is presently 119.21%.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,589 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total value of $483,802.83. Following the sale, the senior vice president now owns 7,210 shares in the company, valued at $2,195,228.70. This represents a 18.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jonathan P. Graham sold 25,045 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $293.12, for a total transaction of $7,341,190.40. Following the transaction, the executive vice president now directly owns 28,987 shares of the company’s stock, 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. 0.69% of the stock is currently owned by 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.