Lokken Investment Group LLC Has $1.07 Million Position in Amgen Inc. (NASDAQ:AMGN)

Lokken Investment Group LLC raised its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 2.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,121 shares of the medical research company’s stock after purchasing an additional 85 shares during the quarter. Lokken Investment Group LLC’s holdings in Amgen were worth $1,074,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMGN. Geode Capital Management LLC raised its position in shares of Amgen by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 12,475,032 shares of the medical research company’s stock valued at $3,245,881,000 after purchasing an additional 352,143 shares during the period. StoneX Group Inc. boosted its holdings in shares of Amgen by 46.2% during the 4th quarter. StoneX Group Inc. now owns 18,460 shares of the medical research company’s stock worth $4,811,000 after buying an additional 5,836 shares during the period. Tradewinds LLC. grew its stake in Amgen by 102.3% in the 4th quarter. Tradewinds LLC. now owns 5,371 shares of the medical research company’s stock valued at $1,400,000 after buying an additional 2,716 shares during the last quarter. Franklin Resources Inc. raised its holdings in Amgen by 52.7% in the 4th quarter. Franklin Resources Inc. now owns 3,291,975 shares of the medical research company’s stock valued at $858,020,000 after acquiring an additional 1,135,884 shares during the period. Finally, Family Legacy Inc. raised its holdings in Amgen by 1.0% in the 4th quarter. Family Legacy Inc. now owns 12,963 shares of the medical research company’s stock valued at $3,425,000 after acquiring an additional 134 shares during the period. 76.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on AMGN. Johnson Rice set a $294.00 target price on Amgen in a research report on Wednesday, March 5th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Amgen in a report on Wednesday, February 5th. Truist Financial dropped their target price on Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. StockNews.com upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, UBS Group reiterated a “hold” rating on shares of Amgen in a research note on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Amgen has a consensus rating of “Moderate Buy” and a consensus price target of $314.04.

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 1,589 shares of Amgen 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 sale, the senior vice president now directly owns 7,210 shares in the company, valued at $2,195,228.70. This trade represents a 18.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David M. Reese sold 25,225 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, 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. Insiders have sold a total of 69,341 shares of company stock valued at $20,644,335 in the last 90 days. 0.69% of the stock is owned by corporate insiders.

Amgen Stock Up 1.5 %

Shares of NASDAQ AMGN opened at $311.55 on Tuesday. The company has a market cap of $167.37 billion, a price-to-earnings ratio of 41.26, a PEG ratio of 2.63 and a beta of 0.53. 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 Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The stock has a 50-day moving average price of $301.87 and a two-hundred day moving average price of $297.81.

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, topping analysts’ consensus estimates of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. As a group, analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date is Friday, May 16th. Amgen’s payout ratio is 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.