Ipsen Advisor Group LLC Purchases Shares of 2,105 Amgen Inc. (NASDAQ:AMGN)

Ipsen Advisor Group LLC acquired a new stake in Amgen Inc. (NASDAQ:AMGN) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 2,105 shares of the medical research company’s stock, valued at approximately $549,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMGN. Centricity Wealth Management LLC bought a new position in Amgen during the 4th quarter valued at approximately $25,000. Legacy Investment Solutions LLC purchased a new position in shares of Amgen during the third quarter valued at approximately $29,000. Synergy Investment Management LLC bought a new position in shares of Amgen during the fourth quarter valued at approximately $34,000. Atala Financial Inc purchased a new stake in Amgen in the fourth quarter worth $34,000. Finally, Heck Capital Advisors LLC bought a new stake in Amgen in the fourth quarter valued at $36,000. 76.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the stock. Truist Financial decreased their price objective on shares of Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. StockNews.com lowered shares of Amgen from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $324.00 target price on shares of Amgen in a report on Friday, January 24th. Leerink Partners lowered their target price on Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. Finally, Piper Sandler lifted their price target on Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $314.04.

Amgen Trading Down 2.4 %

NASDAQ:AMGN opened at $306.86 on Wednesday. The stock has a market cap of $164.85 billion, a price-to-earnings ratio of 40.64, a PEG ratio of 2.63 and a beta of 0.53. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The company’s 50 day moving average price is $298.92 and its 200-day moving average price is $298.41. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, beating the consensus estimate 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 research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be issued a $2.38 dividend. The ex-dividend date is Friday, May 16th. This represents a $9.52 annualized dividend and a yield of 3.10%. Amgen’s payout ratio is 126.09%.

Insiders Place Their Bets

In related 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 value of $483,802.83. Following the sale, the senior vice president now owns 7,210 shares in the company, valued at approximately $2,195,228.70. This trade represents a 18.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Jonathan P. Graham sold 25,045 shares of the business’s stock in a transaction on Friday, February 7th. The shares were 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 owns 28,987 shares of the company’s stock, valued at approximately $8,496,669.44. This represents a 46.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 69,341 shares of company stock valued at $20,644,335. 0.69% of the stock is owned by insiders.

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.