Naples Global Advisors LLC Has $9.12 Million Holdings in Amgen Inc. (NASDAQ:AMGN)

Naples Global Advisors LLC lifted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 2.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,006 shares of the medical research company’s stock after buying an additional 836 shares during the quarter. Amgen comprises approximately 0.9% of Naples Global Advisors LLC’s investment portfolio, making the stock its 18th biggest holding. Naples Global Advisors LLC’s holdings in Amgen were worth $9,124,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of AMGN. Lansing Street Advisors lifted its stake in shares of Amgen by 1.3% in the 3rd quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock valued at $832,000 after purchasing an additional 32 shares during the period. Unionview LLC increased its holdings in Amgen by 3.8% in the third quarter. Unionview LLC now owns 876 shares of the medical research company’s stock worth $282,000 after purchasing an additional 32 shares in the last quarter. AM Investment Strategies LLC lifted its stake in Amgen by 0.4% in the third quarter. AM Investment Strategies LLC now owns 7,471 shares of the medical research company’s stock valued at $2,407,000 after buying an additional 33 shares during the period. Avidian Wealth Enterprises LLC boosted its holdings in shares of Amgen by 0.6% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 5,863 shares of the medical research company’s stock worth $1,889,000 after buying an additional 33 shares in the last quarter. Finally, Beacon Financial Advisory LLC grew its position in shares of Amgen by 4.6% during the 3rd quarter. Beacon Financial Advisory LLC now owns 769 shares of the medical research company’s stock worth $248,000 after buying an additional 34 shares during the period. 76.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AMGN has been the topic of a number of research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $324.00 target price on shares of Amgen in a research report on Friday, January 24th. StockNews.com lowered shares of Amgen from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. Jefferies Financial Group reissued a “buy” rating and set a $380.00 price objective on shares of Amgen in a research report on Tuesday, November 12th. Bank of America boosted 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. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $405.00 price target on shares of Amgen in a report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $314.09.

Amgen Stock Down 0.5 %

AMGN opened at $295.06 on Thursday. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The firm has a market capitalization of $158.60 billion, a P/E ratio of 39.08, a PEG ratio of 3.01 and a beta of 0.56. The company’s 50-day moving average is $272.96 and its 200 day moving average is $302.23. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.96.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, beating the consensus estimate of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. 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 disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be given a $2.38 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 annualized dividend and a yield of 3.23%. This is a boost from Amgen’s previous quarterly dividend of $2.25. Amgen’s payout ratio is currently 119.21%.

Insider Buying and Selling at Amgen

In related news, 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 value of $483,802.83. Following 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jonathan P. Graham sold 25,045 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $293.12, for a total value of $7,341,190.40. Following the completion of the transaction, the executive vice president now owns 28,987 shares in the company, valued at approximately $8,496,669.44. The trade was a 46.35 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.69% of the company’s stock.

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.