StoneX Group Inc. Raises Stock Position in Amgen Inc. (NASDAQ:AMGN)

StoneX Group Inc. grew its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 46.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,460 shares of the medical research company’s stock after purchasing an additional 5,836 shares during the period. StoneX Group Inc.’s holdings in Amgen were worth $4,811,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of AMGN. Centricity Wealth Management LLC purchased a new stake in Amgen in the fourth quarter worth about $25,000. Legacy Investment Solutions LLC bought a new stake in shares of Amgen in the 3rd quarter worth $29,000. Synergy Investment Management LLC bought a new position in shares of Amgen during the fourth quarter valued at $34,000. Atala Financial Inc purchased a new stake in shares of Amgen during the fourth quarter valued at $34,000. Finally, Heck Capital Advisors LLC bought a new stake in Amgen in the 4th quarter worth about $36,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

AMGN has been the topic of a number of recent analyst reports. StockNews.com raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a report on Saturday. UBS Group reaffirmed a “hold” rating on shares of Amgen in a report on Wednesday, February 12th. Truist Financial decreased their target price on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Piper Sandler Companies reissued an “overweight” rating and set a $310.00 price objective on shares of Amgen in a research note on Thursday, January 2nd. Finally, Piper Sandler raised their target price on shares of Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Amgen currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.04.

Amgen Trading Up 1.5 %

AMGN opened at $311.55 on Tuesday. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The firm 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. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The stock has a fifty day moving average price of $301.87 and a 200-day moving average price of $297.81.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, topping 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%. As a group, equities research analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be given a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a yield of 3.06%. Amgen’s payout ratio is 126.09%.

Insider Buying and Selling at Amgen

In other Amgen news, EVP Murdo Gordon sold 8,771 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The shares were 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 in the company, valued at $13,025,590.94. The trade was a 16.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was 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 approximately $2,195,228.70. The trade was a 18.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,341 shares of company stock worth $20,644,335 in the last ninety days. 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.