Clearstead Trust LLC Has $357,000 Holdings in Amgen Inc. (NASDAQ:AMGN)

Clearstead Trust LLC boosted its position in Amgen Inc. (NASDAQ:AMGN) by 129.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,240 shares of the medical research company’s stock after buying an additional 700 shares during the quarter. Clearstead Trust LLC’s holdings in Amgen were worth $357,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Connecticut Wealth Management LLC grew its position in Amgen by 17.1% in the 4th quarter. Connecticut Wealth Management LLC now owns 2,064 shares of the medical research company’s stock worth $594,000 after purchasing an additional 301 shares during the last quarter. Ellerson Group Inc. ADV grew its position in Amgen by 0.7% in the 4th quarter. Ellerson Group Inc. ADV now owns 11,275 shares of the medical research company’s stock worth $3,247,000 after purchasing an additional 80 shares during the last quarter. TCG Advisory Services LLC acquired a new stake in Amgen in the 4th quarter worth $562,000. Forte Capital LLC ADV grew its position in Amgen by 2.7% in the 4th quarter. Forte Capital LLC ADV now owns 4,134 shares of the medical research company’s stock worth $1,191,000 after purchasing an additional 108 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. acquired a new stake in Amgen in the 4th quarter worth $542,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Trading Up 11.8 %

NASDAQ:AMGN traded up $32.90 on Friday, reaching $311.29. The company’s stock had a trading volume of 9,644,682 shares, compared to its average volume of 2,279,398. Amgen Inc. has a 1-year low of $211.71 and a 1-year high of $329.72. The business’s 50-day moving average price is $274.95 and its two-hundred day moving average price is $281.46. The firm has a market cap of $166.97 billion, a PE ratio of 44.47, a PEG ratio of 3.01 and a beta of 0.60. The company has a debt-to-equity ratio of 10.14, a quick ratio of 1.13 and a current ratio of 1.65.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.76 by $0.20. The business had revenue of $7.45 billion during the quarter, compared to analyst estimates of $7.45 billion. Amgen had a return on equity of 145.62% and a net margin of 12.74%. Amgen’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.98 EPS. Equities research analysts anticipate that Amgen Inc. will post 19.46 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be issued a dividend of $2.25 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.89%. Amgen’s payout ratio is 128.57%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Truist Financial reaffirmed a “buy” rating and set a $320.00 price objective on shares of Amgen in a report on Friday, April 12th. SVB Leerink lowered Amgen from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $324.00 to $318.00 in a research note on Wednesday, February 7th. The Goldman Sachs Group increased their price objective on Amgen from $313.00 to $350.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. StockNews.com upgraded shares of Amgen from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Royal Bank of Canada dropped their target price on shares of Amgen from $332.00 to $328.00 and set an “outperform” rating for the company in a research report on Friday. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $305.05.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $313.09, for a total value of $662,811.53. Following the sale, 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 legal filing with the SEC, which is accessible through the SEC website. 0.46% 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.