Atlas Legacy Advisors LLC Purchases Shares of 1,670 Amgen Inc. (NASDAQ:AMGN)

Atlas Legacy Advisors LLC bought a new position in Amgen Inc. (NASDAQ:AMGN) during the 4th quarter, Holdings Channel reports. The institutional investor bought 1,670 shares of the medical research company’s stock, valued at approximately $435,000.

Several other large investors have also made changes to their positions in AMGN. Pathway Financial Advisers LLC increased its stake in Amgen by 33,125.4% during the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock worth $1,437,115,000 after acquiring an additional 4,446,757 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Amgen by 6,812.4% during the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock worth $8,130,610,000 after purchasing an additional 2,486,882 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Amgen by 561.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock worth $496,117,000 after purchasing an additional 1,306,982 shares during the period. Van ECK Associates Corp increased its position in Amgen by 263.8% during the 4th quarter. Van ECK Associates Corp now owns 1,038,593 shares of the medical research company’s stock worth $270,699,000 after purchasing an additional 753,147 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in Amgen by 40.7% in the fourth quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company’s stock valued at $609,526,000 after buying an additional 676,598 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Performance

Shares of Amgen stock opened at $292.80 on Wednesday. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.96 and a current ratio of 1.26. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The firm’s 50-day simple moving average is $274.73 and its 200-day simple moving average is $300.81. The firm has a market cap of $157.39 billion, a PE ratio of 38.78, a price-to-earnings-growth ratio of 3.01 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last announced 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%. Equities analysts forecast that Amgen Inc. will post 20.59 earnings per share for the current fiscal year.

Amgen Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be paid a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a yield of 3.25%. Amgen’s dividend payout ratio (DPR) is 119.21%.

Analyst Ratings Changes

Several equities research analysts have issued reports on AMGN shares. 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 research note on Wednesday, January 8th. Redburn Partners decreased their price target on shares of Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Wolfe Research started coverage on Amgen in a report on Friday, November 15th. They issued a “peer perform” rating for the company. Deutsche Bank Aktiengesellschaft reduced their price objective on Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Finally, UBS Group lowered their target price on Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Amgen has an average rating of “Hold” and a consensus price target of $314.09.

Insiders Place Their Bets

In other news, SVP Nancy A. Grygiel sold 1,589 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were 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 in the company, valued at approximately $2,195,228.70. This trade represents a 18.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Murdo Gordon sold 8,771 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 44,186 shares of the company’s stock, valued at approximately $13,025,590.94. This represents a 16.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,405 shares of company stock valued at $10,410,596 over the last 90 days. 0.69% of the stock is owned by company insiders.

Amgen 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.