Rahlfs Capital LLC Purchases Shares of 840 Amgen Inc. (NASDAQ:AMGN)

Rahlfs Capital LLC acquired a new stake in shares of Amgen Inc. (NASDAQ:AMGN) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 840 shares of the medical research company’s stock, valued at approximately $219,000.

A number of other hedge funds have also recently made changes to their positions in AMGN. Quantbot Technologies LP purchased a new position in shares of Amgen in the 3rd quarter worth approximately $150,000. Texas Capital Bank Wealth Management Services Inc grew its stake in Amgen by 144.0% in the 3rd quarter. Texas Capital Bank Wealth Management Services Inc now owns 1,747 shares of the medical research company’s stock valued at $563,000 after purchasing an additional 1,031 shares during the period. Two Sigma Advisers LP raised its stake in shares of Amgen by 9.5% during the 3rd quarter. Two Sigma Advisers LP now owns 784,900 shares of the medical research company’s stock worth $252,903,000 after purchasing an additional 68,000 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Amgen by 2.1% in the 3rd quarter. Wellington Management Group LLP now owns 239,354 shares of the medical research company’s stock worth $77,122,000 after buying an additional 4,942 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC boosted its stake in Amgen by 38.0% in the third quarter. Kovitz Investment Group Partners LLC now owns 93,668 shares of the medical research company’s stock valued at $30,181,000 after acquiring an additional 25,806 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMGN has been the subject of several research reports. Piper Sandler increased their price objective on Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $324.00 price objective on shares of Amgen in a report on Friday, January 24th. Johnson Rice set a $294.00 price target on shares of Amgen in a research report on Wednesday, March 5th. Truist Financial reduced their price objective 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. Finally, UBS Group restated a “hold” rating on shares of Amgen in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $314.04.

Amgen Price Performance

AMGN stock opened at $294.39 on Friday. The firm has a market cap of $158.15 billion, a P/E ratio of 38.99, a P/E/G ratio of 2.63 and a beta of 0.53. The firm’s fifty day moving average is $304.18 and its 200 day moving average is $297.49. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26.

Amgen (NASDAQ:AMGN) last posted its quarterly 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 net margin of 12.24% and a return on equity of 176.32%. Research analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be paid a $2.38 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a yield of 3.23%. Amgen’s dividend payout ratio (DPR) is currently 126.09%.

Insider Buying and Selling at Amgen

In other Amgen news, EVP Murdo Gordon sold 8,771 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $294.79, for a total value of $2,585,603.09. Following the transaction, the executive vice president now owns 44,186 shares in the company, valued at approximately $13,025,590.94. The trade was a 16.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Nancy A. Grygiel sold 1,589 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total transaction of $483,802.83. Following 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,341 shares of company stock worth $20,644,335. 0.69% of the stock is currently owned by insiders.

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.