JPL Wealth Management LLC Makes New Investment in Amgen Inc. (NASDAQ:AMGN)

JPL Wealth Management LLC acquired a new position in shares of Amgen Inc. (NASDAQ:AMGN) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 9,917 shares of the medical research company’s stock, valued at approximately $2,585,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMGN. Unionview LLC increased its stake in Amgen by 3.8% in the 3rd quarter. Unionview LLC now owns 876 shares of the medical research company’s stock worth $282,000 after purchasing an additional 32 shares during the period. Semus Wealth Partners LLC increased its stake in Amgen by 2.3% in the 3rd quarter. Semus Wealth Partners LLC now owns 1,531 shares of the medical research company’s stock worth $493,000 after purchasing an additional 35 shares during the period. Connable Office Inc. increased its stake in Amgen by 0.5% in the 3rd quarter. Connable Office Inc. now owns 6,972 shares of the medical research company’s stock worth $2,246,000 after purchasing an additional 37 shares during the period. Blossom Wealth Management increased its stake in Amgen by 3.5% in the 4th quarter. Blossom Wealth Management now owns 1,090 shares of the medical research company’s stock worth $284,000 after purchasing an additional 37 shares during the period. Finally, Zullo Investment Group Inc. increased its stake in Amgen by 2.8% in the 4th quarter. Zullo Investment Group Inc. now owns 1,364 shares of the medical research company’s stock worth $356,000 after purchasing an additional 37 shares during the period. 76.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Bank of America boosted their target price on Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a research note on Wednesday, March 5th. StockNews.com cut Amgen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. Redburn Partners reduced their target price on Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. UBS Group reissued a “hold” rating on shares of Amgen in a research note on Wednesday, February 12th. Finally, Wells Fargo & Company reissued an “equal weight” rating on shares of Amgen in a research note on Wednesday, February 5th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $314.04.

Insider Activity at Amgen

In other Amgen news, 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 sale, the executive vice president now directly owns 28,987 shares in the company, valued at approximately $8,496,669.44. The trade was a 46.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David M. Reese sold 25,225 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the completion of the transaction, the executive vice president now owns 36,922 shares in the company, valued at approximately $11,240,533.68. This trade represents a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,341 shares of company stock worth $20,644,335. 0.69% of the stock is currently owned by company insiders.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $312.50 on Thursday. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. The company has a market cap of $167.88 billion, a PE ratio of 41.39, a P/E/G ratio of 2.63 and a beta of 0.53. The business has a 50-day simple moving average of $289.70 and a two-hundred day simple moving average of $299.52. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 EPS 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%. As a group, equities analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be paid a $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 3.05%. The ex-dividend date is Friday, May 16th. Amgen’s dividend payout ratio (DPR) is presently 126.09%.

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.