Trinity Legacy Partners LLC Increases Holdings in Amgen Inc. (NASDAQ:AMGN)

Trinity Legacy Partners LLC raised its stake in Amgen Inc. (NASDAQ:AMGN) by 0.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,520 shares of the medical research company’s stock after purchasing an additional 138 shares during the quarter. Trinity Legacy Partners LLC’s holdings in Amgen were worth $4,045,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Nicholson Wealth Management Group LLC raised its stake in shares of Amgen by 48.7% during the fourth quarter. Nicholson Wealth Management Group LLC now owns 5,661 shares of the medical research company’s stock valued at $1,475,000 after purchasing an additional 1,855 shares during the period. Lakeside Advisors INC. grew its holdings in Amgen by 18.5% during the 4th quarter. Lakeside Advisors INC. now owns 1,298 shares of the medical research company’s stock valued at $338,000 after purchasing an additional 203 shares in the last quarter. Morningstar Investment Management LLC grew its holdings in Amgen by 9.6% during the 4th quarter. Morningstar Investment Management LLC now owns 2,729 shares of the medical research company’s stock valued at $711,000 after purchasing an additional 239 shares in the last quarter. Hussman Strategic Advisors Inc. increased its stake in Amgen by 40.0% during the 4th quarter. Hussman Strategic Advisors Inc. now owns 14,700 shares of the medical research company’s stock worth $3,831,000 after buying an additional 4,200 shares during the period. Finally, Zullo Investment Group Inc. lifted its holdings in Amgen by 2.8% in the 4th quarter. Zullo Investment Group Inc. now owns 1,364 shares of the medical research company’s stock worth $356,000 after buying an additional 37 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

AMGN has been the topic of a number of analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $324.00 target price on shares of Amgen in a research report on Friday, January 24th. UBS Group lowered their price objective on Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Redburn Partners cut their target price on Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Citigroup decreased their price target on shares of Amgen from $310.00 to $295.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th. Finally, Truist Financial dropped their price target on shares of Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $314.09.

Insider Buying and Selling

In other Amgen news, EVP Murdo Gordon sold 8,771 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $294.79, for a total transaction 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 approximately $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 can be accessed through this hyperlink. Also, EVP Jonathan P. Graham sold 25,045 shares of the business’s stock in a transaction on 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 sale, the executive vice president now directly owns 28,987 shares in the company, valued at $8,496,669.44. This represents a 46.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,405 shares of company stock valued at $10,410,596 over the last 90 days. 0.69% of the stock is currently owned by company insiders.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $297.93 on Friday. The firm’s 50 day moving average is $275.62 and its two-hundred day moving average is $300.75. The firm has a market capitalization of $160.05 billion, a P/E ratio of 39.46, a PEG ratio of 2.54 and a beta of 0.56. The company has a current ratio of 1.26, a quick ratio of 0.95 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 posted its earnings results on Tuesday, February 4th. The medical research company reported $5.31 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%. Analysts anticipate that Amgen Inc. will post 20.6 earnings per share for the current 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 dividend of $2.38 per share. This is a boost from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s payout ratio is currently 126.09%.

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.