Park Capital Management LLC WI Makes New $269,000 Investment in Amgen Inc. (NASDAQ:AMGN)

Park Capital Management LLC WI bought a new position in shares of Amgen Inc. (NASDAQ:AMGN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,030 shares of the medical research company’s stock, valued at approximately $269,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in shares of Amgen during the third quarter worth about $25,000. Legacy Investment Solutions LLC acquired a new stake in shares of Amgen during the third quarter worth about $29,000. Heck Capital Advisors LLC acquired a new stake in shares of Amgen during the fourth quarter worth about $36,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Amgen during the fourth quarter worth about $52,000. Finally, Livelsberger Financial Advisory acquired a new stake in shares of Amgen during the third quarter worth about $56,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on AMGN shares. Truist Financial cut 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. Sanford C. Bernstein initiated coverage on Amgen in a research report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price target on the stock. Piper Sandler Companies restated an “overweight” rating and issued a $310.00 price target on shares of Amgen in a research report on Thursday, January 2nd. Citigroup dropped their price target on Amgen from $310.00 to $295.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $314.09.

Amgen Price Performance

AMGN stock opened at $295.06 on Thursday. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.96 and a current ratio of 1.26. The stock’s 50 day moving average price is $272.96 and its 200 day moving average price is $302.23. The firm has a market cap of $158.60 billion, a P/E ratio of 39.08, a PEG ratio of 3.01 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last posted its earnings results 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 return on equity of 176.32% and a net margin of 12.24%. On average, sell-side analysts expect that Amgen Inc. will post 20.59 earnings per share for the current fiscal year.

Amgen Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be paid a $2.38 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a yield of 3.23%. This is a positive change from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio is presently 119.21%.

Insider Activity at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,589 shares of the stock in a transaction 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 transaction, the senior vice president now owns 7,210 shares of the company’s stock, valued at $2,195,228.70. This represents a 18.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Jonathan P. Graham sold 25,045 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $293.12, for a total value of $7,341,190.40. Following the transaction, the executive vice president now directly owns 28,987 shares in the company, valued at approximately $8,496,669.44. This represents a 46.35 % decrease in their position. The disclosure for this sale can be found here. 0.69% of the stock is owned by corporate insiders.

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.