Generali Investments Management Co LLC Makes New $1.67 Million Investment in Amgen Inc. (NASDAQ:AMGN)

Generali Investments Management Co LLC purchased a new position in Amgen Inc. (NASDAQ:AMGN) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 6,404 shares of the medical research company’s stock, valued at approximately $1,669,000.

Several other hedge funds have also bought and sold shares of the stock. Investment House LLC lifted its stake in Amgen by 2.7% in the 4th quarter. Investment House LLC now owns 35,531 shares of the medical research company’s stock worth $9,261,000 after purchasing an additional 950 shares in the last quarter. Harvest Fund Management Co. Ltd raised its position in shares of Amgen by 15.1% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 31,657 shares of the medical research company’s stock valued at $8,199,000 after buying an additional 4,161 shares in the last quarter. Vinva Investment Management Ltd raised its position in shares of Amgen by 22.7% during the 4th quarter. Vinva Investment Management Ltd now owns 26,522 shares of the medical research company’s stock valued at $6,877,000 after buying an additional 4,909 shares in the last quarter. Stokes Family Office LLC raised its position in shares of Amgen by 117.6% during the 4th quarter. Stokes Family Office LLC now owns 4,104 shares of the medical research company’s stock valued at $1,070,000 after buying an additional 2,218 shares in the last quarter. Finally, North Forty Two & Co. purchased a new stake in shares of Amgen during the 4th quarter valued at about $631,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on AMGN shares. Piper Sandler Companies restated an “overweight” rating and set a $310.00 target price on shares of Amgen in a research report on Thursday, January 2nd. Royal Bank of Canada restated an “outperform” rating and set a $324.00 target price on shares of Amgen in a research report on Friday, January 24th. Bank of America upped their target price on shares of Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a research report on Wednesday, March 5th. Wells Fargo & Company restated an “equal weight” rating on shares of Amgen in a research report on Wednesday, February 5th. Finally, Redburn Partners reduced their price objective on shares of Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $314.04.

Insider Activity

In other Amgen news, EVP Murdo Gordon sold 8,771 shares of the firm’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 value of $2,585,603.09. Following the completion of the sale, the executive vice president now directly owns 44,186 shares in the company, valued at $13,025,590.94. This trade represents a 16.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $483,802.83. Following the completion of the sale, the senior vice president now owns 7,210 shares of the company’s stock, valued at approximately $2,195,228.70. This trade represents a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,341 shares of company stock worth $20,644,335. Corporate insiders own 0.69% of the company’s stock.

Amgen Price Performance

Shares of AMGN stock opened at $318.65 on Wednesday. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. The company’s 50-day simple moving average is $294.12 and its two-hundred day simple moving average is $298.91. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The company has a market capitalization of $171.18 billion, a P/E ratio of 42.21, a P/E/G ratio of 2.63 and a beta of 0.53.

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 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, equities analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be paid a dividend of $2.38 per share. The ex-dividend date is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 2.99%. Amgen’s dividend payout ratio 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.