CapWealth Advisors LLC Acquires 409 Shares of Amgen Inc. (NASDAQ:AMGN)

CapWealth Advisors LLC boosted its holdings in Amgen Inc. (NASDAQ:AMGN) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,837 shares of the medical research company’s stock after purchasing an additional 409 shares during the period. CapWealth Advisors LLC’s holdings in Amgen were worth $7,777,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Pathway Financial Advisers LLC raised its holdings in Amgen by 33,125.4% in 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 buying an additional 4,446,757 shares during the last quarter. International Assets Investment Management LLC raised its stake in 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 valued at $8,130,610,000 after purchasing an additional 2,486,882 shares during the period. Assenagon Asset Management S.A. boosted 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 valued at $496,117,000 after purchasing an additional 1,306,982 shares during the last quarter. Van ECK Associates Corp raised its stake in Amgen by 263.8% during the fourth quarter. Van ECK Associates Corp now owns 1,038,593 shares of the medical research company’s stock valued at $270,699,000 after purchasing an additional 753,147 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of Amgen by 40.7% in the 4th quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company’s stock worth $609,526,000 after purchasing an additional 676,598 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Stock Down 2.0 %

NASDAQ AMGN opened at $291.16 on Friday. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.96. The company has a market capitalization of $156.51 billion, a P/E ratio of 38.56, a PEG ratio of 3.01 and a beta of 0.56. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The company’s 50 day simple moving average is $273.75 and its 200 day simple moving average is $302.14.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS 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%. Equities research analysts expect that Amgen Inc. will post 20.59 earnings per share for the current fiscal year.

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be given a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 dividend on an annualized basis and a yield of 3.27%. Amgen’s dividend payout ratio is 126.09%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on AMGN shares. UBS Group cut their target price on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Wolfe Research began coverage on shares of Amgen in a research note on Friday, November 15th. They set a “peer perform” rating for the company. Bank of America boosted their price target on Amgen from $256.00 to $275.00 and gave the stock an “underperform” rating in a research note on Thursday, February 6th. Jefferies Financial Group reiterated a “buy” rating and set a $380.00 price target on shares of Amgen in a research note on Tuesday, November 12th. Finally, Piper Sandler upped their price target on shares of Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $314.09.

Insider Buying and Selling at Amgen

In other news, EVP Murdo Gordon sold 8,771 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 44,186 shares of the company’s stock, valued at $13,025,590.94. This represents a 16.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jonathan P. Graham sold 25,045 shares of the firm’s 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 owns 28,987 shares in the company, valued at approximately $8,496,669.44. This trade represents a 46.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,405 shares of company stock worth $10,410,596. 0.69% of the stock is currently 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.