Ellerson Group Inc. ADV Raises Stock Position in Amgen Inc. (NASDAQ:AMGN)

Ellerson Group Inc. ADV boosted its position in shares of Amgen Inc. (NASDAQ:AMGN) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,275 shares of the medical research company’s stock after acquiring an additional 80 shares during the period. Amgen accounts for 2.8% of Ellerson Group Inc. ADV’s holdings, making the stock its 15th biggest position. Ellerson Group Inc. ADV’s holdings in Amgen were worth $3,247,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of AMGN. OFI Invest Asset Management purchased a new stake in shares of Amgen during the third quarter worth about $26,000. Briaud Financial Planning Inc purchased a new position in shares of Amgen in the third quarter worth $26,000. BOK Financial Private Wealth Inc. acquired a new stake in shares of Amgen during the fourth quarter worth $29,000. Providence Capital Advisors LLC acquired a new position in shares of Amgen in the 3rd quarter valued at $30,000. Finally, Planned Solutions Inc. acquired a new stake in Amgen during the 4th quarter worth about $30,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AMGN. BMO Capital Markets raised their price objective on Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a research note on Friday. UBS Group upped their price objective on shares of Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a report on Friday. TD Cowen lowered their price target on shares of Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. Morgan Stanley lifted their price objective on Amgen from $271.00 to $310.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, Truist Financial reaffirmed a “buy” rating and set a $320.00 target price on shares of Amgen in a report on Friday, April 12th. Ten equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $305.05.

Insiders Place Their Bets

In related news, SVP Nancy A. Grygiel sold 2,117 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $313.09, for a total transaction of $662,811.53. Following the completion of the sale, the senior vice president now directly owns 9,883 shares of the company’s stock, valued at approximately $3,094,268.47. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.46% of the company’s stock.

Amgen Price Performance

Amgen stock traded up $32.90 during mid-day trading on Friday, hitting $311.29. The company’s stock had a trading volume of 9,644,682 shares, compared to its average volume of 2,279,398. Amgen Inc. has a twelve month low of $211.71 and a twelve month high of $329.72. The stock has a market capitalization of $166.97 billion, a P/E ratio of 44.47, a P/E/G ratio of 2.69 and a beta of 0.60. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 10.14. The stock’s fifty day moving average price is $274.95 and its two-hundred day moving average price is $281.50.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.76 by $0.20. The firm had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.45 billion. Amgen had a return on equity of 145.62% and a net margin of 12.74%. The business’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same period in the prior year, the business earned $3.98 EPS. Research analysts forecast that Amgen Inc. will post 19.43 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.89%. The ex-dividend date is Thursday, May 16th. Amgen’s dividend payout ratio is 128.57%.

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.