KLCM Advisors Inc. Raises Position in Amgen Inc. (NASDAQ:AMGN)

KLCM Advisors Inc. lifted its holdings in Amgen Inc. (NASDAQ:AMGN) by 23.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,160 shares of the medical research company’s stock after purchasing an additional 217 shares during the period. KLCM Advisors Inc.’s holdings in Amgen were worth $302,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp grew its stake in Amgen by 1.2% in the third quarter. State Street Corp now owns 29,317,018 shares of the medical research company’s stock worth $9,446,236,000 after purchasing an additional 345,537 shares in the last quarter. Geode Capital Management LLC grew its stake in Amgen by 0.9% in the third quarter. Geode Capital Management LLC now owns 12,122,889 shares of the medical research company’s stock worth $3,893,771,000 after purchasing an additional 103,851 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Amgen by 2.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 10,532,629 shares of the medical research company’s stock worth $3,393,718,000 after purchasing an additional 251,876 shares in the last quarter. Janus Henderson Group PLC boosted its position in Amgen by 11.7% during the 3rd quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock valued at $1,657,183,000 after acquiring an additional 538,545 shares in the last quarter. Finally, Pathway Financial Advisers LLC boosted its position in Amgen by 33,125.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after acquiring an additional 4,446,757 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on AMGN. Citigroup dropped their target price on Amgen from $310.00 to $295.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. Piper Sandler increased their target price on Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Bank of America increased their target price on Amgen from $256.00 to $275.00 and gave the company an “underperform” rating in a research report on Thursday, February 6th. Cantor Fitzgerald reissued an “overweight” rating and issued a $405.00 price objective on shares of Amgen in a research report on Tuesday, October 22nd. Finally, Piper Sandler Companies reissued an “overweight” rating and issued a $310.00 price objective on shares of Amgen in a research report on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Amgen currently has an average rating of “Hold” and a consensus price target of $314.09.

Amgen Trading Down 2.0 %

AMGN stock opened at $291.16 on Monday. The company has a current ratio of 1.26, a quick ratio of 0.96 and a debt-to-equity ratio of 9.62. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The stock has a market cap of $156.51 billion, a price-to-earnings ratio of 38.56, a PEG ratio of 3.01 and a beta of 0.56. The business’s 50-day moving average is $274.12 and its 200 day moving average is $301.63.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (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%. On average, sell-side analysts anticipate that Amgen Inc. will post 20.59 EPS for the current fiscal year.

Amgen Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be issued a dividend of $2.38 per share. This is a boost from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a dividend yield of 3.27%. The ex-dividend date is Friday, February 14th. Amgen’s payout ratio is currently 119.21%.

Insider Transactions at Amgen

In other news, EVP Jonathan P. Graham sold 25,045 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $293.12, for a total transaction of $7,341,190.40. Following the transaction, the executive vice president now directly owns 28,987 shares in the company, valued at $8,496,669.44. The trade was a 46.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Nancy A. Grygiel sold 1,589 shares of Amgen 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 sale, the senior vice president now directly owns 7,210 shares in the company, valued at approximately $2,195,228.70. The trade was a 18.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,405 shares of company stock worth $10,410,596 in the last ninety days. Insiders own 0.69% of the company’s stock.

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.