GEN Financial Management INC. Makes New $652,000 Investment in Amgen Inc. (NASDAQ:AMGN)

GEN Financial Management INC. purchased a new stake in Amgen Inc. (NASDAQ:AMGN) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 2,502 shares of the medical research company’s stock, valued at approximately $652,000. Amgen accounts for 0.4% of GEN Financial Management INC.’s holdings, making the stock its 28th largest position.

A number of other large investors have also recently bought and sold shares of the business. Pathway Financial Advisers LLC lifted its position in Amgen by 33,125.4% in 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 purchasing an additional 4,446,757 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Amgen by 6,812.4% in the third 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. raised its holdings in shares of Amgen by 561.5% during the third 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 buying an additional 1,306,982 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of Amgen by 40.7% during the fourth quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company’s stock worth $609,526,000 after buying an additional 676,598 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in Amgen by 11.7% in the 3rd quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock worth $1,657,183,000 after buying an additional 538,545 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AMGN. TD Cowen boosted their price target on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. StockNews.com downgraded shares of Amgen from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. Piper Sandler lowered their target price on shares of Amgen from $344.00 to $310.00 and set an “overweight” rating on the stock in a research note on Thursday, January 2nd. Wolfe Research assumed coverage on shares of Amgen in a research report on Friday, November 15th. They set a “peer perform” rating on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $405.00 price objective on shares of Amgen in a report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $314.00.

Amgen Trading Up 1.2 %

Amgen stock opened at $288.87 on Tuesday. The company has a 50 day moving average price of $271.06 and a 200 day moving average price of $304.11. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The firm has a market capitalization of $155.28 billion, a price-to-earnings ratio of 36.99, a P/E/G ratio of 2.87 and a beta of 0.56.

Amgen Increases Dividend

The firm also recently declared 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 an increase from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.30%. Amgen’s payout ratio is currently 115.24%.

About Amgen

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.