Cushing Capital Partners LLC Invests $635,000 in Amgen Inc. (NASDAQ:AMGN)

Cushing Capital Partners LLC acquired a new position in Amgen Inc. (NASDAQ:AMGN) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,435 shares of the medical research company’s stock, valued at approximately $635,000.

A number of other large investors have also modified their holdings of AMGN. Charles Schwab Investment Management Inc. increased its holdings in shares of Amgen by 25.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company’s stock worth $3,441,909,000 after acquiring an additional 2,672,975 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Amgen in the 4th quarter worth about $401,913,000. Van ECK Associates Corp increased its holdings in shares of Amgen by 263.8% in the 4th quarter. Van ECK Associates Corp now owns 1,038,593 shares of the medical research company’s stock worth $270,699,000 after acquiring an additional 753,147 shares during the period. Nordea Investment Management AB increased its holdings in shares of Amgen by 40.7% in the 4th quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company’s stock worth $609,526,000 after acquiring an additional 676,598 shares during the period. Finally, Janus Henderson Group PLC increased its holdings in shares of Amgen by 11.7% in the 3rd quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock worth $1,657,183,000 after acquiring an additional 538,545 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Jonathan P. Graham sold 25,045 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 28,987 shares of the company’s stock, valued at approximately $8,496,669.44. The trade was a 46.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Nancy A. Grygiel sold 1,589 shares of the business’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 transaction of $483,802.83. Following the transaction, the senior vice president now directly owns 7,210 shares in the company, valued at $2,195,228.70. The trade was a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,341 shares of company stock worth $20,644,335 over the last ninety days. 0.69% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on AMGN. UBS Group reaffirmed a “hold” rating on shares of Amgen in a report on Wednesday, February 12th. Redburn Partners lowered their target price on shares of Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Johnson Rice set a $294.00 target price on shares of Amgen in a research note on Wednesday, March 5th. Finally, Leerink Partners lowered their target price on shares of Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Amgen has an average rating of “Hold” and a consensus price target of $314.04.

Amgen Stock Performance

Shares of AMGN opened at $327.36 on Tuesday. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The company has a 50-day moving average of $287.50 and a two-hundred day moving average of $299.50. The stock has a market cap of $175.86 billion, a price-to-earnings ratio of 43.36, 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 (NASDAQ:AMGN) last announced 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%. On average, equities research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be issued a $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s payout ratio is 126.09%.

Amgen Company 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.