Lokken Investment Group LLC Has $1.07 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Lokken Investment Group LLC grew its position in shares of Amgen Inc. (NASDAQ:AMGN) by 2.1% in the 4th quarter, Holdings Channel reports. The firm owned 4,121 shares of the medical research company’s stock after acquiring an additional 85 shares during the quarter. Lokken Investment Group LLC’s holdings in Amgen were worth $1,074,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMGN. Legacy Investment Solutions LLC bought a new position in Amgen during the third quarter worth $29,000. Centricity Wealth Management LLC acquired a new stake in Amgen during the 4th quarter worth about $25,000. Synergy Investment Management LLC bought a new position in shares of Amgen in the 4th quarter worth about $34,000. Atala Financial Inc acquired a new position in shares of Amgen in the 4th quarter valued at about $34,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of Amgen during the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AMGN. UBS Group reissued a “hold” rating on shares of Amgen in a research note on Wednesday, February 12th. Piper Sandler boosted their target price on shares of Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Citigroup restated a “neutral” rating on shares of Amgen in a report on Wednesday, February 5th. Truist Financial dropped their price objective on shares of Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Finally, Wells Fargo & Company restated an “equal weight” rating on shares of Amgen in a research note on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $314.04.

Amgen Stock Up 1.5 %

AMGN opened at $311.55 on Tuesday. 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 $167.37 billion, a P/E ratio of 41.26, a PEG ratio of 2.63 and a beta of 0.53. The company’s 50-day moving average is $301.87 and its 200 day moving average is $297.81. 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 (NASDAQ:AMGN) last posted its earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, topping 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 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be paid a $2.38 dividend. 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 3.06%. Amgen’s dividend payout ratio (DPR) is presently 126.09%.

Insider Activity

In other news, EVP David M. Reese sold 8,711 shares of the firm’s 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 sale, the executive vice president now owns 62,147 shares in the company, valued at $18,222,743.34. This trade represents a 12.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Nancy A. Grygiel sold 1,589 shares of the company’s 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 transaction, the senior vice president now owns 7,210 shares in the company, valued at approximately $2,195,228.70. The trade was a 18.06 % 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 ninety days. 0.69% of the stock is currently owned by insiders.

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.