Mainstay Capital Management LLC ADV Boosts Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Mainstay Capital Management LLC ADV raised its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 3.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,980 shares of the medical research company’s stock after purchasing an additional 171 shares during the period. Mainstay Capital Management LLC ADV’s holdings in Amgen were worth $1,298,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in Amgen during the 3rd quarter valued at about $25,000. Legacy Investment Solutions LLC purchased a new position in shares of Amgen in the 3rd quarter worth approximately $29,000. Centricity Wealth Management LLC purchased a new position in shares of Amgen in the 4th quarter worth approximately $25,000. Heck Capital Advisors LLC purchased a new position in shares of Amgen in the 4th quarter worth approximately $36,000. Finally, Kennebec Savings Bank purchased a new position in shares of Amgen in the 3rd quarter worth approximately $57,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insider Buying and Selling

In related news, EVP David M. Reese sold 8,711 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $293.22, for a total value of $2,554,239.42. Following the completion of the sale, the executive vice president now owns 62,147 shares of the company’s stock, valued at approximately $18,222,743.34. The trade was a 12.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jonathan P. Graham sold 25,045 shares of the business’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 completion of the sale, 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 disclosure for this sale can be found here. In the last quarter, insiders sold 69,341 shares of company stock valued at $20,644,335. 0.69% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AMGN. Leerink Partners cut their price objective on shares of Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $324.00 price objective on shares of Amgen in a research report on Friday, January 24th. Bank of America lifted their price objective on shares of Amgen from $256.00 to $275.00 and gave the stock an “underperform” rating in a research report on Thursday, February 6th. Redburn Partners cut their price objective on shares of Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Finally, Piper Sandler Companies reiterated an “overweight” rating and issued a $310.00 target price on shares of Amgen in a research note on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Amgen has an average rating of “Hold” and a consensus price target of $314.09.

Amgen Price Performance

NASDAQ:AMGN opened at $303.01 on Monday. 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 firm has a market cap of $162.78 billion, a price-to-earnings ratio of 40.13, a price-to-earnings-growth ratio of 2.58 and a beta of 0.56. The company has a 50 day moving average price of $276.27 and a 200-day moving average price of $300.31. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85.

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 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 forecast that Amgen Inc. will post 20.6 EPS for the current year.

Amgen Increases Dividend

The business 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 $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.14%. The ex-dividend date is Friday, February 14th. This is a positive change from Amgen’s previous quarterly dividend of $2.25. Amgen’s payout ratio is presently 126.09%.

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.