Synergy Investment Management LLC Takes $34,000 Position in Amgen Inc. (NASDAQ:AMGN)

Synergy Investment Management LLC acquired a new stake in shares of Amgen Inc. (NASDAQ:AMGN) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 130 shares of the medical research company’s stock, valued at approximately $34,000.

A number of other large investors have also recently made changes to their positions in AMGN. Unionview LLC lifted its holdings in Amgen by 3.8% in the 3rd quarter. Unionview LLC now owns 876 shares of the medical research company’s stock worth $282,000 after purchasing an additional 32 shares in the last quarter. Avidian Wealth Enterprises LLC lifted its holdings in Amgen by 0.6% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 5,863 shares of the medical research company’s stock worth $1,889,000 after purchasing an additional 33 shares in the last quarter. Beacon Financial Advisory LLC lifted its holdings in Amgen by 4.6% in the 3rd quarter. Beacon Financial Advisory LLC now owns 769 shares of the medical research company’s stock worth $248,000 after purchasing an additional 34 shares in the last quarter. Semus Wealth Partners LLC lifted its holdings in Amgen by 2.3% in the 3rd quarter. Semus Wealth Partners LLC now owns 1,531 shares of the medical research company’s stock worth $493,000 after purchasing an additional 35 shares in the last quarter. Finally, Connable Office Inc. lifted its holdings in Amgen by 0.5% in the 3rd quarter. Connable Office Inc. now owns 6,972 shares of the medical research company’s stock worth $2,246,000 after purchasing an additional 37 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Trading Up 1.4 %

Shares of NASDAQ:AMGN opened at $316.57 on Thursday. The business’s 50-day moving average is $283.80 and its 200 day moving average is $299.78. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The firm has a market capitalization of $170.06 billion, a P/E ratio of 41.93, a P/E/G ratio of 2.63 and a beta of 0.56. 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 announced 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%. On average, research analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be issued a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s dividend payout ratio is presently 126.09%.

Insider Activity

In related news, EVP David M. Reese sold 25,225 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the sale, the executive vice president now directly owns 36,922 shares of the company’s stock, valued at $11,240,533.68. This trade represents a 40.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jonathan P. Graham sold 25,045 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now 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. Over the last three months, insiders have sold 69,341 shares of company stock valued at $20,644,335. Company insiders own 0.69% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on AMGN. William Blair reaffirmed an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. Jefferies Financial Group reissued a “buy” rating and set a $380.00 target price on shares of Amgen in a research report on Tuesday, November 12th. Leerink Partners cut their target price on Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Wells Fargo & Company reissued an “equal weight” rating on shares of Amgen in a research report on Wednesday, February 5th. Finally, Truist Financial cut their target price on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock 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 given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $314.95.

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.