Clearstead Trust LLC Boosts Stake in Amgen Inc. (NASDAQ:AMGN)

by · The Markets Daily

Clearstead Trust LLC lifted its holdings in Amgen Inc. (NASDAQ:AMGN – Free Report) by 13.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,094 shares of the medical research company’s stock after buying an additional 130 shares during the period. Clearstead Trust LLC’s holdings in Amgen were worth $285,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Centricity Wealth Management LLC purchased a new position in shares of Amgen in the fourth quarter worth about $25,000. Legacy Investment Solutions LLC purchased a new position in Amgen during the third quarter worth about $29,000. Synergy Investment Management LLC purchased a new position in Amgen during the fourth quarter worth about $34,000. Atala Financial Inc purchased a new position in Amgen during the fourth quarter worth about $34,000. Finally, Heck Capital Advisors LLC purchased a new position in Amgen during the fourth quarter worth about $36,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Johnson Rice set a $294.00 target price on shares of Amgen in a research note on Wednesday, March 5th. Citigroup reaffirmed a “neutral” rating on shares of Amgen in a research note on Wednesday, February 5th. Royal Bank of Canada reiterated an “outperform” rating and set a $324.00 price target on shares of Amgen in a research report on Friday, January 24th. Leerink Partners dropped their price target on shares of Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Finally, StockNews.com cut shares of Amgen from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Amgen presently has a consensus rating of “Hold” and an average price target of $314.04.

View Our Latest Analysis on AMGN

Amgen Trading Up 0.3 %

Shares of NASDAQ:AMGN opened at $313.71 on Friday. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The company’s 50 day moving average is $291.82 and its two-hundred day moving average is $299.52. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The company has a market cap of $168.53 billion, a PE ratio of 41.55, a P/E/G ratio of 2.63 and a beta of 0.53.

Amgen (NASDAQ:AMGN – Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, beating analysts’ consensus estimates 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 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be issued a $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 3.03%. The ex-dividend date is Friday, May 16th. Amgen’s payout ratio is 126.09%.

Insider Activity

In other news, EVP Jonathan P. Graham sold 25,045 shares of the company’s stock in a transaction on Friday, February 7th. The shares were 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 owns 28,987 shares in the company, valued at approximately $8,496,669.44. This represents a 46.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP David M. Reese sold 8,711 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $293.22, for a total transaction of $2,554,239.42. Following the completion of the transaction, the executive vice president now owns 62,147 shares of the company’s stock, valued at approximately $18,222,743.34. The trade was a 12.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,341 shares of company stock worth $20,644,335. Corporate insiders own 0.69% of the company’s stock.

Amgen Company Profile

(Free Report)

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.

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