Pathway Financial Advisers LLC Has $3.64 Million Holdings in Amgen Inc. (NASDAQ:AMGN)

Pathway Financial Advisers LLC raised its position in shares of Amgen Inc. (NASDAQ:AMGN) by 1.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 13,975 shares of the medical research company’s stock after buying an additional 132 shares during the period. Amgen comprises 1.2% of Pathway Financial Advisers LLC’s holdings, making the stock its 25th largest position. Pathway Financial Advisers LLC’s holdings in Amgen were worth $3,642,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in AMGN. Lansing Street Advisors increased its holdings in Amgen by 1.3% in the third quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock valued at $832,000 after purchasing an additional 32 shares during the last quarter. Unionview LLC grew its position in shares of Amgen by 3.8% during the 3rd quarter. Unionview LLC now owns 876 shares of the medical research company’s stock worth $282,000 after buying an additional 32 shares during the period. AM Investment Strategies LLC increased its stake in shares of Amgen by 0.4% in the 3rd quarter. AM Investment Strategies LLC now owns 7,471 shares of the medical research company’s stock valued at $2,407,000 after acquiring an additional 33 shares during the last quarter. Avidian Wealth Enterprises LLC raised its position in shares of Amgen by 0.6% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 5,863 shares of the medical research company’s stock valued at $1,889,000 after acquiring an additional 33 shares during the period. Finally, Beacon Financial Advisory LLC boosted its stake in Amgen by 4.6% during the 3rd quarter. Beacon Financial Advisory LLC now owns 769 shares of the medical research company’s stock worth $248,000 after acquiring an additional 34 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMGN has been the subject of several recent analyst reports. Piper Sandler upped their target price on shares of Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a research note on Monday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $324.00 price target on shares of Amgen in a research report on Friday, January 24th. Sanford C. Bernstein assumed coverage on Amgen in a report on Thursday, October 17th. They set an “outperform” rating and a $380.00 price objective on the stock. Wells Fargo & Company dropped their target price on shares of Amgen from $335.00 to $280.00 and set an “equal weight” rating on the stock in a report on Friday, January 10th. Finally, Redburn Partners reduced their price target on shares of Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $314.09.

Insider Activity

In related news, EVP Jonathan P. Graham sold 25,045 shares of the business’s stock in a transaction that occurred 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. The trade was a 46.35 % 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, SVP Nancy A. Grygiel sold 1,589 shares of the firm’s 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 directly owns 7,210 shares of the company’s stock, valued at $2,195,228.70. This represents a 18.06 % decrease in their position. The disclosure for this sale can be found here. 0.69% of the stock is owned by insiders.

Amgen Stock Performance

Shares of NASDAQ AMGN opened at $295.06 on Thursday. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.96 and a current ratio of 1.26. The stock has a 50 day moving average price of $273.29 and a 200 day moving average price of $302.18. The stock has a market capitalization of $158.60 billion, a PE ratio of 39.08, a price-to-earnings-growth ratio of 3.01 and a beta of 0.56. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 EPS 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%. Analysts predict that Amgen Inc. will post 20.59 earnings per share for the current fiscal year.

Amgen Increases Dividend

The company also recently disclosed 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. The ex-dividend date is Friday, February 14th. This is a positive change from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a dividend yield of 3.23%. Amgen’s payout ratio is currently 119.21%.

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.