Sitrin Capital Management LLC Increases Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Sitrin Capital Management LLC boosted its stake in Amgen Inc. (NASDAQ:AMGN) by 0.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,586 shares of the medical research company’s stock after acquiring an additional 36 shares during the period. Amgen accounts for approximately 3.0% of Sitrin Capital Management LLC’s holdings, making the stock its 15th biggest holding. Sitrin Capital Management LLC’s holdings in Amgen were worth $5,887,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in AMGN. AMF Tjanstepension AB grew its stake in Amgen by 16.9% in the third quarter. AMF Tjanstepension AB now owns 120,389 shares of the medical research company’s stock worth $38,825,000 after purchasing an additional 17,387 shares during the period. Swedbank AB boosted its holdings in shares of Amgen by 1.1% during the 3rd quarter. Swedbank AB now owns 538,899 shares of the medical research company’s stock valued at $173,639,000 after buying an additional 5,751 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of Amgen by 0.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 169,843 shares of the medical research company’s stock worth $54,725,000 after buying an additional 1,037 shares during the period. Autumn Glory Partners LLC increased its stake in shares of Amgen by 23.5% in the 3rd quarter. Autumn Glory Partners LLC now owns 798 shares of the medical research company’s stock worth $268,000 after acquiring an additional 152 shares in the last quarter. Finally, Orrstown Financial Services Inc. increased its stake in shares of Amgen by 96.3% in the 3rd quarter. Orrstown Financial Services Inc. now owns 3,019 shares of the medical research company’s stock worth $973,000 after acquiring an additional 1,481 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Price Performance

NASDAQ AMGN opened at $315.63 on Wednesday. The stock has a market capitalization of $169.56 billion, a price-to-earnings ratio of 41.81, a PEG ratio of 2.63 and a beta of 0.56. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. The business’s fifty day moving average price is $278.13 and its 200-day moving average price is $300.16.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, beating analysts’ consensus estimates 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be issued a $2.38 dividend. This is an increase from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.02%. Amgen’s dividend payout ratio (DPR) is presently 126.09%.

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 1,589 shares of Amgen stock in a transaction 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 in the company, valued at approximately $2,195,228.70. The trade was a 18.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jonathan P. Graham sold 25,045 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was 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 of the company’s stock, valued at approximately $8,496,669.44. The trade was a 46.35 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 69,341 shares of company stock worth $20,644,335. 0.69% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on AMGN. Citigroup restated a “neutral” rating on shares of Amgen in a report on Wednesday, February 5th. Truist Financial dropped their price target on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $324.00 price objective on shares of Amgen in a research report on Friday, January 24th. Wolfe Research started coverage on Amgen in a report on Friday, November 15th. They issued a “peer perform” rating on the stock. Finally, UBS Group reissued a “hold” rating on shares of Amgen in a research note on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $314.09.

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.