Perennial Investment Advisors LLC Purchases 43 Shares of Amgen Inc. (NASDAQ:AMGN)

Perennial Investment Advisors LLC increased its holdings in Amgen Inc. (NASDAQ:AMGN) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,733 shares of the medical research company’s stock after acquiring an additional 43 shares during the quarter. Perennial Investment Advisors LLC’s holdings in Amgen were worth $713,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blossom Wealth Management grew its position in shares of Amgen by 3.5% in the 4th quarter. Blossom Wealth Management now owns 1,090 shares of the medical research company’s stock worth $284,000 after buying an additional 37 shares during the last quarter. Zullo Investment Group Inc. grew its holdings in Amgen by 2.8% in the fourth quarter. Zullo Investment Group Inc. now owns 1,364 shares of the medical research company’s stock worth $356,000 after purchasing an additional 37 shares during the last quarter. Trillium Asset Management LLC increased its position in shares of Amgen by 4.2% during the fourth quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company’s stock worth $237,000 after purchasing an additional 37 shares in the last quarter. Prestige Wealth Management Group LLC lifted its holdings in shares of Amgen by 2.8% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 1,387 shares of the medical research company’s stock valued at $447,000 after purchasing an additional 38 shares during the last quarter. Finally, Evermay Wealth Management LLC boosted its position in shares of Amgen by 1.5% in the 4th quarter. Evermay Wealth Management LLC now owns 2,650 shares of the medical research company’s stock worth $691,000 after purchasing an additional 38 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.

Insider Transactions at Amgen

In related news, EVP David M. Reese sold 25,225 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the transaction, the executive vice president now directly owns 36,922 shares in the company, valued at approximately $11,240,533.68. The trade was a 40.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Nancy A. Grygiel sold 1,589 shares of the stock in a transaction dated 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. The trade was a 18.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 69,341 shares of company stock valued at $20,644,335 over the last 90 days. 0.69% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on AMGN shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $324.00 target price on shares of Amgen in a research report on Friday, January 24th. Citigroup restated a “neutral” rating on shares of Amgen in a report on Wednesday, February 5th. Piper Sandler lifted their target price on shares of Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Wells Fargo & Company restated an “equal weight” rating on shares of Amgen in a research note on Wednesday, February 5th. Finally, UBS Group reiterated a “hold” rating on shares of Amgen in a research note on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $314.04.

Amgen Stock Down 5.0 %

AMGN opened at $294.39 on Friday. The company has a market cap of $158.15 billion, a PE ratio of 38.99, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The company has a 50-day moving average price of $304.18 and a 200 day moving average price of $297.24. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, February 4th. The medical research company reported $5.31 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%. Sell-side analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders 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 annualized dividend and a yield of 3.23%. Amgen’s dividend payout ratio (DPR) is presently 126.09%.

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.