King Luther Capital Management Corp Boosts Stock Position in Amgen Inc. (NASDAQ:AMGN)

King Luther Capital Management Corp lifted its position in Amgen Inc. (NASDAQ:AMGN) by 0.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 519,604 shares of the medical research company’s stock after acquiring an additional 1,637 shares during the period. King Luther Capital Management Corp owned 0.10% of Amgen worth $135,430,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Unionview LLC boosted its stake in shares of Amgen by 3.8% in the third quarter. Unionview LLC now owns 876 shares of the medical research company’s stock worth $282,000 after acquiring an additional 32 shares during the last quarter. Semus Wealth Partners LLC boosted its stake in Amgen by 2.3% during the third quarter. Semus Wealth Partners LLC now owns 1,531 shares of the medical research company’s stock worth $493,000 after buying an additional 35 shares during the last quarter. Connable Office Inc. boosted its stake in Amgen by 0.5% during the third quarter. Connable Office Inc. now owns 6,972 shares of the medical research company’s stock worth $2,246,000 after buying an additional 37 shares during the last quarter. Blossom Wealth Management boosted its stake in Amgen by 3.5% during the fourth quarter. Blossom Wealth Management now owns 1,090 shares of the medical research company’s stock worth $284,000 after buying an additional 37 shares during the last quarter. Finally, Zullo Investment Group Inc. boosted its stake in Amgen by 2.8% during the fourth quarter. Zullo Investment Group Inc. now owns 1,364 shares of the medical research company’s stock worth $356,000 after buying an additional 37 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Amgen

In other Amgen news, EVP Murdo Gordon sold 8,771 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $294.79, for a total transaction of $2,585,603.09. Following the completion of the transaction, the executive vice president now owns 44,186 shares of the company’s stock, valued at approximately $13,025,590.94. This trade represents a 16.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total value of $483,802.83. Following the transaction, the senior vice president now directly owns 7,210 shares of the company’s stock, valued at $2,195,228.70. The trade was a 18.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 69,341 shares of company stock valued at $20,644,335 in the last ninety days. Corporate insiders own 0.69% of the company’s stock.

Amgen Stock Performance

Shares of AMGN stock opened at $327.36 on Tuesday. The company has a market cap of $175.86 billion, a price-to-earnings ratio of 43.36, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53. The stock has a 50 day simple moving average of $287.50 and a 200-day simple moving average of $299.50. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, topping 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 forecast that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be paid a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s payout ratio is currently 126.09%.

Analyst Ratings Changes

Several equities analysts have recently commented on AMGN shares. Citigroup reaffirmed a “neutral” rating on shares of Amgen in a research note on Wednesday, February 5th. Piper Sandler upped their price target on Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Bank of America boosted their price objective on Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a report on Wednesday, March 5th. Truist Financial cut their price objective on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Finally, Wolfe Research initiated coverage on Amgen in a report on Friday, November 15th. They issued a “peer perform” rating on the stock. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $314.04.

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.