Mainstay Capital Management LLC ADV Grows Position in Amgen Inc. (NASDAQ:AMGN)

Mainstay Capital Management LLC ADV raised its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 3.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,980 shares of the medical research company’s stock after buying an additional 171 shares during the quarter. Mainstay Capital Management LLC ADV’s holdings in Amgen were worth $1,298,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of AMGN. Capital Performance Advisors LLP acquired a new position in shares of Amgen during the 3rd quarter valued at about $25,000. Centricity Wealth Management LLC acquired a new position in shares of Amgen during the 4th quarter valued at about $25,000. Legacy Investment Solutions LLC acquired a new position in shares of Amgen during the 3rd quarter valued at about $29,000. Heck Capital Advisors LLC acquired a new position in shares of Amgen during the 4th quarter valued at about $36,000. Finally, PrairieView Partners LLC boosted its position in shares of Amgen by 118.3% during the 4th quarter. PrairieView Partners LLC now owns 179 shares of the medical research company’s stock valued at $46,000 after acquiring an additional 97 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analysts Set New Price Targets

AMGN has been the topic of several recent research reports. Jefferies Financial Group reissued a “buy” rating and set a $380.00 price target on shares of Amgen in a research report on Tuesday, November 12th. Citigroup reaffirmed a “neutral” rating on shares of Amgen in a research report on Wednesday, February 5th. Wolfe Research initiated coverage on shares of Amgen in a research report on Friday, November 15th. They issued a “peer perform” rating on the stock. UBS Group reaffirmed a “hold” rating on shares of Amgen in a research report on Wednesday, February 12th. Finally, Redburn Partners decreased their target price on shares of Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $314.09.

Insider Buying and Selling at Amgen

In other news, EVP Jonathan P. Graham sold 25,045 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $293.12, for a total value of $7,341,190.40. Following the completion of the sale, the executive vice president now directly owns 28,987 shares of the company’s stock, valued at approximately $8,496,669.44. This represents a 46.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Nancy A. Grygiel sold 1,589 shares of the 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 completion of the sale, the senior vice president now directly owns 7,210 shares of the company’s stock, valued at $2,195,228.70. The trade was a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,341 shares of company stock worth $20,644,335 over the last three months. Insiders own 0.69% of the company’s stock.

Amgen Stock Up 1.7 %

AMGN stock opened at $303.01 on Monday. The company’s 50 day moving average price is $276.27 and its 200 day moving average price is $300.31. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. 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 $162.78 billion, a price-to-earnings ratio of 40.13, a PEG ratio of 2.58 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results 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%. On average, equities research analysts anticipate that Amgen Inc. will post 20.6 EPS for the current fiscal year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be paid a $2.38 dividend. This is a positive change from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a yield of 3.14%. The ex-dividend date is Friday, February 14th. Amgen’s dividend payout ratio is currently 126.09%.

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.