Quest Partners LLC Makes New Investment in Amgen Inc. (NASDAQ:AMGN)

Quest Partners LLC purchased a new stake in Amgen Inc. (NASDAQ:AMGN) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,422 shares of the medical research company’s stock, valued at approximately $698,000.

Several other large investors have also modified their holdings of AMGN. Fuller & Thaler Asset Management Inc. increased its holdings in Amgen by 1.7% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 11,658 shares of the medical research company’s stock worth $3,133,000 after purchasing an additional 193 shares during the period. Diversified Trust Co increased its holdings in shares of Amgen by 76.8% in the 4th quarter. Diversified Trust Co now owns 37,695 shares of the medical research company’s stock valued at $10,857,000 after acquiring an additional 16,376 shares during the last quarter. Provence Wealth Management Group increased its holdings in shares of Amgen by 11.9% in the 4th quarter. Provence Wealth Management Group now owns 1,445 shares of the medical research company’s stock valued at $416,000 after acquiring an additional 154 shares during the last quarter. Kinsale Capital Group Inc. increased its holdings in shares of Amgen by 33.0% in the 4th quarter. Kinsale Capital Group Inc. now owns 11,348 shares of the medical research company’s stock valued at $3,269,000 after acquiring an additional 2,814 shares during the last quarter. Finally, Nicolet Advisory Services LLC increased its holdings in shares of Amgen by 4.4% in the 3rd quarter. Nicolet Advisory Services LLC now owns 2,805 shares of the medical research company’s stock valued at $745,000 after acquiring an additional 117 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Insider Transactions at Amgen

In related news, SVP Nancy A. Grygiel sold 2,117 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $313.09, for a total value of $662,811.53. Following the completion of the transaction, the senior vice president now owns 9,883 shares of the company’s stock, valued at $3,094,268.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.69% of the company’s stock.

Wall Street Analysts Forecast Growth

AMGN has been the topic of a number of research reports. Leerink Partnrs downgraded Amgen from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 7th. Oppenheimer reaffirmed an “outperform” rating and set a $350.00 price objective on shares of Amgen in a research report on Thursday, February 1st. Truist Financial reissued a “buy” rating and issued a $320.00 price target on shares of Amgen in a report on Friday, April 12th. Raymond James started coverage on Amgen in a report on Thursday, March 28th. They issued a “market perform” rating for the company. Finally, BMO Capital Markets raised their price target on Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Ten investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $305.65.

Amgen Stock Performance

Amgen stock opened at $309.41 on Thursday. The firm has a market capitalization of $165.98 billion, a P/E ratio of 44.20, a PEG ratio of 2.85 and a beta of 0.60. The stock has a fifty day moving average price of $283.58 and a 200 day moving average price of $285.13. Amgen Inc. has a 52 week low of $211.71 and a 52 week high of $329.72. The company has a current ratio of 1.42, a quick ratio of 0.98 and a debt-to-equity ratio of 11.96.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.76 by $0.20. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The firm had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.45 billion. During the same quarter in the previous year, the business earned $3.98 earnings per share. The firm’s quarterly revenue was up 22.0% compared to the same quarter last year. Equities research analysts anticipate that Amgen Inc. will post 19.46 earnings per share for the current year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend payout ratio (DPR) is presently 128.57%.

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.