Aire Advisors LLC Grows Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Aire Advisors LLC boosted its holdings in Amgen Inc. (NASDAQ:AMGN) by 26.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,280 shares of the medical research company’s stock after buying an additional 2,762 shares during the quarter. Aire Advisors LLC’s holdings in Amgen were worth $3,461,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Legacy Investment Solutions LLC acquired a new stake in shares of Amgen during the 3rd quarter worth about $29,000. Centricity Wealth Management LLC purchased a new position in Amgen in the fourth quarter valued at approximately $25,000. Synergy Investment Management LLC purchased a new position in Amgen in the fourth quarter valued at approximately $34,000. Atala Financial Inc acquired a new stake in Amgen during the fourth quarter worth approximately $34,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of Amgen during the 4th quarter worth approximately $36,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Trading Down 0.5 %

NASDAQ:AMGN opened at $314.38 on Tuesday. The stock has a market capitalization of $168.89 billion, a price-to-earnings ratio of 41.64, a PEG ratio of 2.63 and a beta of 0.53. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The stock has a fifty day moving average price of $298.13 and a two-hundred day moving average price of $298.50. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26.

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

Amgen Dividend Announcement

The company 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 dividend of $2.38 per share. The ex-dividend date is Friday, May 16th. This represents a $9.52 annualized dividend and a yield of 3.03%. Amgen’s dividend payout ratio is presently 126.09%.

Wall Street Analyst Weigh In

AMGN has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft cut their price target on shares of Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Amgen in a research report on Wednesday, February 5th. UBS Group reissued a “hold” rating on shares of Amgen in a research report on Wednesday, February 12th. Piper Sandler lifted their price target on Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Finally, Bank of America increased their price objective on Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a report on Wednesday, March 5th. 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $314.04.

Insiders Place Their Bets

In related news, SVP Nancy A. Grygiel sold 1,589 shares of Amgen 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 completion of the transaction, the senior vice president now directly owns 7,210 shares in the company, valued at $2,195,228.70. The trade was a 18.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP David M. Reese sold 25,225 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $304.44, for a total value of $7,679,499.00. Following the sale, the executive vice president now owns 36,922 shares in the company, valued at approximately $11,240,533.68. This trade represents a 40.59 % decrease in their position. 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. 0.69% of the stock is owned by corporate 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.