Torray Investment Partners LLC Has $15.67 Million Stake in Amgen Inc. (NASDAQ:AMGN)

Torray Investment Partners LLC raised its position in shares of Amgen Inc. (NASDAQ:AMGN) by 394.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 60,127 shares of the medical research company’s stock after buying an additional 47,969 shares during the period. Amgen comprises 2.2% of Torray Investment Partners LLC’s portfolio, making the stock its 14th biggest position. Torray Investment Partners LLC’s holdings in Amgen were worth $15,672,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Commerzbank Aktiengesellschaft FI increased its holdings in shares of Amgen by 372.2% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 277,772 shares of the medical research company’s stock worth $72,398,000 after buying an additional 218,948 shares in the last quarter. Synergy Investment Management LLC bought a new stake in shares of Amgen during the fourth quarter valued at approximately $34,000. Charles Schwab Investment Management Inc. grew its stake in shares of Amgen by 25.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company’s stock valued at $3,441,909,000 after purchasing an additional 2,672,975 shares during the last quarter. James Reed Financial Services Inc. bought a new stake in shares of Amgen during the fourth quarter valued at approximately $235,000. Finally, Bedel Financial Consulting Inc. grew its stake in shares of Amgen by 4.5% during the fourth quarter. Bedel Financial Consulting Inc. now owns 1,517 shares of the medical research company’s stock valued at $395,000 after purchasing an additional 66 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on AMGN shares. Royal Bank of Canada reissued an “outperform” rating and set a $324.00 price target on shares of Amgen in a research note on Friday, January 24th. StockNews.com cut shares of Amgen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Redburn Partners reduced their price objective on shares of Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Finally, Piper Sandler boosted their price target on shares of Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $314.09.

Amgen Stock Performance

Shares of Amgen stock opened at $310.78 on Tuesday. The company has a 50 day moving average of $281.80 and a 200-day moving average of $299.73. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The company has a market cap of $166.95 billion, a PE ratio of 41.16, a price-to-earnings-growth ratio of 2.63 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, topping analysts’ consensus estimates of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. As a group, equities research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be paid a $2.38 dividend. 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 annualized dividend and a yield of 3.06%. Amgen’s dividend payout ratio is presently 126.09%.

Insider Activity at Amgen

In related news, EVP Jonathan P. Graham sold 25,045 shares of the 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 of the company’s stock, valued at $8,496,669.44. This represents a 46.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP David M. Reese sold 8,711 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $293.22, for a total transaction of $2,554,239.42. Following the completion of the transaction, the executive vice president now directly owns 62,147 shares of the company’s stock, valued at approximately $18,222,743.34. The trade was a 12.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,341 shares of company stock valued at $20,644,335 in the last quarter. 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.