Generali Investments Management Co LLC Buys Shares of 6,404 Amgen Inc. (NASDAQ:AMGN)

Generali Investments Management Co LLC purchased a new position in Amgen Inc. (NASDAQ:AMGN) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 6,404 shares of the medical research company’s stock, valued at approximately $1,669,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in AMGN. Swedbank AB raised its holdings in shares of Amgen by 1.1% in the third quarter. Swedbank AB now owns 538,899 shares of the medical research company’s stock worth $173,639,000 after buying an additional 5,751 shares during the last quarter. Quest Partners LLC raised its holdings in shares of Amgen by 1,568.7% in the third quarter. Quest Partners LLC now owns 1,919 shares of the medical research company’s stock worth $618,000 after buying an additional 1,804 shares during the last quarter. Joseph Group Capital Management raised its holdings in shares of Amgen by 15.7% in the third quarter. Joseph Group Capital Management now owns 8,633 shares of the medical research company’s stock worth $2,782,000 after buying an additional 1,169 shares during the last quarter. Pathstone Holdings LLC raised its holdings in shares of Amgen by 1.7% in the third quarter. Pathstone Holdings LLC now owns 98,605 shares of the medical research company’s stock worth $31,772,000 after buying an additional 1,694 shares during the last quarter. Finally, Caprock Group LLC raised its holdings in shares of Amgen by 6.6% in the third quarter. Caprock Group LLC now owns 16,424 shares of the medical research company’s stock worth $5,292,000 after buying an additional 1,017 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 1,589 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were 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 represents a 18.06 % decrease in their position. The sale was disclosed in a legal filing 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 shares were sold at an average price of $293.12, for a total transaction of $7,341,190.40. Following 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,341 shares of company stock valued at $20,644,335. Corporate insiders own 0.69% of the company’s stock.

Amgen Stock Up 0.5 %

AMGN stock opened at $318.65 on Wednesday. The stock has a market capitalization of $171.18 billion, a P/E ratio of 42.21, a P/E/G ratio of 2.63 and a beta of 0.53. The firm has a 50-day simple moving average of $294.12 and a 200-day simple moving average of $298.91. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS 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%. Equities analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be paid a dividend of $2.38 per share. The ex-dividend date is Friday, May 16th. This represents a $9.52 annualized dividend and a yield of 2.99%. Amgen’s dividend payout ratio is presently 126.09%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AMGN. Royal Bank of Canada restated an “outperform” rating and set a $324.00 target price on shares of Amgen in a research report on Friday, January 24th. UBS Group restated a “hold” rating on shares of Amgen in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Johnson Rice set a $294.00 target price on shares of Amgen in a research report on Wednesday, March 5th. Finally, Truist Financial decreased their target price on shares of Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. 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 issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $314.04.

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.