Vertex Planning Partners LLC Grows Position in Amgen Inc. (NASDAQ:AMGN)

Vertex Planning Partners LLC increased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 9.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,595 shares of the medical research company’s stock after buying an additional 144 shares during the period. Vertex Planning Partners LLC’s holdings in Amgen were worth $416,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new position in Amgen during the third quarter worth approximately $29,000. Centricity Wealth Management LLC purchased a new stake in shares of Amgen in the 4th quarter valued at $25,000. Synergy Investment Management LLC acquired a new position in shares of Amgen in the fourth quarter valued at approximately $34,000. Atala Financial Inc purchased a new stake in Amgen during the 4th quarter worth about $34,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of Amgen during the fourth quarter worth approximately $36,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Performance

Shares of AMGN opened at $305.77 on Friday. The company has a 50-day moving average of $300.39 and a two-hundred day moving average of $298.51. The stock has a market cap of $164.26 billion, a price-to-earnings ratio of 40.50, a PEG ratio of 2.63 and a beta of 0.53. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85.

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

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be given a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date is Friday, May 16th. Amgen’s dividend payout ratio (DPR) is 126.09%.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 1,589 shares of Amgen stock in a transaction 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 approximately $2,195,228.70. This trade represents a 18.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jonathan P. Graham sold 25,045 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 28,987 shares in the company, valued at approximately $8,496,669.44. The trade was a 46.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 69,341 shares of company stock worth $20,644,335. 0.69% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $324.00 price objective on shares of Amgen in a report on Friday, January 24th. Bank of America upped their target price on shares of Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a research report on Wednesday, March 5th. Piper Sandler Companies reiterated an “overweight” rating and issued a $310.00 price objective on shares of Amgen in a research report on Thursday, January 2nd. UBS Group restated a “hold” rating on shares of Amgen in a report on Wednesday, February 12th. Finally, Citigroup reissued a “neutral” rating on shares of Amgen in a research note on Wednesday, February 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $314.04.

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.