Riverbend Wealth Management LLC Invests $469,000 in Amgen Inc. (NASDAQ:AMGN)

Riverbend Wealth Management LLC purchased a new stake in Amgen Inc. (NASDAQ:AMGN) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,778 shares of the medical research company’s stock, valued at approximately $469,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Talbot Financial LLC lifted its stake in shares of Amgen by 5.6% in the 4th quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company’s stock valued at $11,153,000 after purchasing an additional 2,274 shares during the last quarter. Swiss National Bank raised its holdings in Amgen by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock valued at $513,033,000 after buying an additional 5,500 shares during the period. Asset Advisors Investment Management LLC lifted its position in Amgen by 9.0% in the third quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company’s stock worth $11,578,000 after buying an additional 2,954 shares during the last quarter. Principal Financial Group Inc. lifted its position in Amgen by 6.0% in the third quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company’s stock worth $204,659,000 after buying an additional 35,785 shares during the last quarter. Finally, Ascent Wealth Partners LLC boosted its stake in Amgen by 0.7% during the fourth quarter. Ascent Wealth Partners LLC now owns 9,024 shares of the medical research company’s stock worth $2,352,000 after buying an additional 64 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on AMGN. Redburn Partners lowered their target price on shares of Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Wolfe Research began coverage on shares of Amgen in a research note on Friday, November 15th. They issued a “peer perform” rating for the company. Piper Sandler Companies restated an “overweight” rating and set a $310.00 target price on shares of Amgen in a research report on Thursday, January 2nd. Truist Financial reduced their price target on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Finally, Bank of America boosted their price objective on Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $314.04.

Insider Buying and Selling at Amgen

In related news, EVP Murdo Gordon sold 8,771 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $294.79, for a total value of $2,585,603.09. Following the completion of the transaction, the executive vice president now directly owns 44,186 shares of the company’s stock, valued at $13,025,590.94. This trade represents a 16.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Nancy A. Grygiel sold 1,589 shares of Amgen stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total transaction of $483,802.83. Following the completion of the sale, the senior vice president now owns 7,210 shares of the company’s stock, valued at $2,195,228.70. This trade represents a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,341 shares of company stock worth $20,644,335 over the last three months. Corporate insiders own 0.69% of the company’s stock.

Amgen Trading Up 0.8 %

Shares of NASDAQ:AMGN opened at $327.36 on Tuesday. 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 capitalization of $175.86 billion, a PE ratio of 43.36, a P/E/G ratio of 2.63 and a beta of 0.53. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The business’s fifty day simple moving average is $287.50 and its 200-day simple moving average is $299.50.

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

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be given a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a yield of 2.91%. Amgen’s payout ratio is 126.09%.

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.