Sitrin Capital Management LLC Buys 36 Shares of Amgen Inc. (NASDAQ:AMGN)

Sitrin Capital Management LLC increased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 0.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,586 shares of the medical research company’s stock after buying an additional 36 shares during the quarter. Amgen comprises approximately 3.0% of Sitrin Capital Management LLC’s investment portfolio, making the stock its 15th biggest position. Sitrin Capital Management LLC’s holdings in Amgen were worth $5,887,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Lansing Street Advisors lifted its stake in shares of Amgen by 1.3% during the 3rd quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock valued at $832,000 after buying an additional 32 shares in the last quarter. Unionview LLC lifted its position in shares of Amgen by 3.8% during the third quarter. Unionview LLC now owns 876 shares of the medical research company’s stock worth $282,000 after acquiring an additional 32 shares in the last quarter. AM Investment Strategies LLC boosted its holdings in shares of Amgen by 0.4% in the third quarter. AM Investment Strategies LLC now owns 7,471 shares of the medical research company’s stock worth $2,407,000 after acquiring an additional 33 shares during the period. Avidian Wealth Enterprises LLC grew its position in shares of Amgen by 0.6% in the third quarter. Avidian Wealth Enterprises LLC now owns 5,863 shares of the medical research company’s stock valued at $1,889,000 after purchasing an additional 33 shares in the last quarter. Finally, Beacon Financial Advisory LLC raised its stake in shares of Amgen by 4.6% during the 3rd quarter. Beacon Financial Advisory LLC now owns 769 shares of the medical research company’s stock valued at $248,000 after purchasing an additional 34 shares during the period. Institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

Shares of Amgen stock opened at $315.63 on Wednesday. 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 Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The company has a fifty day moving average of $278.13 and a 200-day moving average of $300.16. The stock has a market capitalization of $169.56 billion, a price-to-earnings ratio of 41.81, a price-to-earnings-growth ratio of 2.63 and a beta of 0.56.

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%. Equities research analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be given a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.02%. This is a positive change from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. Amgen’s dividend payout ratio (DPR) is presently 126.09%.

Analyst Upgrades and Downgrades

AMGN has been the subject of several analyst reports. Redburn Partners cut their target price on Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. StockNews.com lowered shares of Amgen from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Citigroup reaffirmed a “neutral” rating on shares of Amgen in a report on Wednesday, February 5th. Piper Sandler raised their price target on shares of Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $324.00 price target on shares of Amgen in a research report on Friday, January 24th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $314.09.

Insiders Place Their Bets

In other Amgen news, EVP David M. Reese sold 25,225 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the completion of the sale, the executive vice president now owns 36,922 shares of the company’s stock, valued at $11,240,533.68. This represents a 40.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 transaction of $483,802.83. Following the completion of the sale, the senior vice president now directly owns 7,210 shares in the company, valued at approximately $2,195,228.70. This trade represents a 18.06 % decrease in their position. 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 ninety days. Company insiders own 0.69% of the company’s stock.

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.