Kentucky Trust Co Makes New $1.24 Million Investment in Amgen Inc. (NASDAQ:AMGN)

Kentucky Trust Co acquired a new stake in shares of Amgen Inc. (NASDAQ:AMGN) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 4,751 shares of the medical research company’s stock, valued at approximately $1,238,000.

A number of other hedge funds also recently bought and sold shares of AMGN. Pathway Financial Advisers LLC lifted its stake in Amgen by 33,125.4% during the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after buying an additional 4,446,757 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Amgen by 6,812.4% in the third quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock worth $8,130,610,000 after purchasing an additional 2,486,882 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Amgen by 561.5% in the third quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock worth $496,117,000 after purchasing an additional 1,306,982 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Amgen by 40.7% in the fourth quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company’s stock worth $609,526,000 after purchasing an additional 676,598 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of Amgen by 11.7% in the third quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock worth $1,657,183,000 after purchasing an additional 538,545 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AMGN. Piper Sandler increased their price target on shares of Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Sanford C. Bernstein began coverage on shares of Amgen in a research report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price target for the company. Citigroup reduced 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, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $405.00 price objective on shares of Amgen in a research report on Tuesday, October 22nd. Two investment 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 stock. According to MarketBeat.com, Amgen presently has a consensus rating of “Hold” and an average target price of $314.09.

Insider Transactions at Amgen

In related news, SVP Nancy A. Grygiel sold 1,589 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was 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 directly owns 7,210 shares of the company’s stock, valued at $2,195,228.70. This trade represents a 18.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jonathan P. Graham sold 25,045 shares of the firm’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 transaction, the executive vice president now directly owns 28,987 shares of the company’s stock, valued at approximately $8,496,669.44. This trade represents a 46.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.69% of the stock is currently owned by corporate insiders.

Amgen Trading Up 0.6 %

Shares of AMGN stock opened at $296.66 on Wednesday. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The company has a quick ratio of 0.96, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The business’s 50 day moving average is $272.59 and its two-hundred day moving average is $302.50. The company has a market cap of $159.46 billion, a PE ratio of 39.29, a price-to-earnings-growth ratio of 3.01 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (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%. Equities analysts predict that Amgen Inc. will post 20.59 EPS for the current year.

Amgen Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be paid a $2.38 dividend. This is an increase from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 annualized dividend and a dividend yield of 3.21%. Amgen’s dividend payout ratio (DPR) is presently 119.21%.

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.