Fairvoy Private Wealth LLC Purchases New Position in Amgen Inc. (NASDAQ:AMGN)

Fairvoy Private Wealth LLC acquired a new position in shares of Amgen Inc. (NASDAQ:AMGN) in the 4th quarter, HoldingsChannel reports. The firm acquired 3,141 shares of the medical research company’s stock, valued at approximately $819,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Talbot Financial LLC increased its holdings in shares of Amgen by 5.6% in the 4th quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company’s stock valued at $11,153,000 after acquiring an additional 2,274 shares during the last quarter. Swiss National Bank lifted its position in Amgen by 0.3% during the third quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock worth $513,033,000 after buying an additional 5,500 shares during the period. Asset Advisors Investment Management LLC lifted its stake in shares of Amgen by 9.0% in the 3rd quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company’s stock valued at $11,578,000 after purchasing an additional 2,954 shares in the last quarter. Principal Financial Group Inc. lifted its position in Amgen by 6.0% during the 3rd quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company’s stock worth $204,659,000 after acquiring an additional 35,785 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its position in shares of Amgen by 3.2% in the 3rd quarter. First Horizon Advisors Inc. now owns 60,769 shares of the medical research company’s stock valued at $19,581,000 after purchasing an additional 1,872 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Trading Down 3.3 %

NASDAQ:AMGN opened at $297.78 on Friday. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The stock has a market cap of $160.07 billion, a price-to-earnings ratio of 38.13, a price-to-earnings-growth ratio of 2.87 and a beta of 0.56. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The business’s 50-day simple moving average is $271.69 and its 200 day simple moving average is $303.55.

Amgen (NASDAQ:AMGN) last announced its 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 168.35% and a net margin of 13.00%. As a group, sell-side analysts predict that Amgen Inc. will post 19.56 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 $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.20%. This is a boost from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s payout ratio is presently 126.09%.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,589 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total transaction of $483,802.83. Following the completion of the sale, the senior vice president now owns 7,210 shares of the company’s stock, valued at approximately $2,195,228.70. This trade represents a 18.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.69% of the company’s stock.

Wall Street Analysts Forecast Growth

AMGN has been the topic of several recent analyst reports. Piper Sandler cut their target price on Amgen from $344.00 to $310.00 and set an “overweight” rating on the stock in a research note on Thursday, January 2nd. UBS Group decreased their price target on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Leerink Partners decreased their target price on shares of Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. StockNews.com downgraded shares of Amgen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $405.00 price objective on shares of Amgen in a report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $314.83.

Amgen 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.