IFP Advisors Inc Has $1.59 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

IFP Advisors Inc increased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 6.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,102 shares of the medical research company’s stock after acquiring an additional 357 shares during the quarter. IFP Advisors Inc’s holdings in Amgen were worth $1,591,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in AMGN. Capital Performance Advisors LLP bought a new position in shares of Amgen in the 3rd quarter valued at about $25,000. Centricity Wealth Management LLC acquired a new position in Amgen in the fourth quarter valued at approximately $25,000. Legacy Investment Solutions LLC bought a new position in Amgen in the third quarter valued at approximately $29,000. Heck Capital Advisors LLC acquired a new stake in Amgen during the 4th quarter worth $36,000. Finally, PrairieView Partners LLC raised its position in shares of Amgen by 118.3% during the 4th quarter. PrairieView Partners LLC now owns 179 shares of the medical research company’s stock valued at $46,000 after acquiring an additional 97 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,589 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total value of $483,802.83. Following the completion of the sale, the senior vice president now owns 7,210 shares in the company, 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 legal filing with the SEC, which is available through this link. Also, EVP David M. Reese sold 25,225 shares of the business’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 transaction, the executive vice president now owns 36,922 shares in the company, valued at $11,240,533.68. This represents a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,341 shares of company stock valued at $20,644,335 in the last 90 days. 0.69% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AMGN. StockNews.com lowered Amgen from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Royal Bank of Canada restated an “outperform” rating and set a $324.00 target price on shares of Amgen in a report on Friday, January 24th. Bank of America upped their price target on Amgen from $256.00 to $275.00 and gave the company an “underperform” rating in a research note on Thursday, February 6th. Wells Fargo & Company reissued an “equal weight” rating on shares of Amgen in a research note on Wednesday, February 5th. Finally, Piper Sandler boosted their price objective on shares of Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $314.09.

Amgen Stock Performance

Shares of AMGN stock opened at $306.38 on Thursday. The firm has a market cap of $164.59 billion, a PE ratio of 40.58, a P/E/G ratio of 2.63 and a beta of 0.56. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The company’s fifty day simple moving average is $279.08 and its 200-day simple moving average is $300.20. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62.

Amgen (NASDAQ:AMGN) last issued its quarterly 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%. Equities research analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be paid a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.11%. This is an increase from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. Amgen’s dividend payout ratio (DPR) is currently 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.