Lincoln National Corp Acquires 1,685 Shares of Amgen Inc. (NASDAQ:AMGN)

Lincoln National Corp boosted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 14.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,516 shares of the medical research company’s stock after purchasing an additional 1,685 shares during the period. Lincoln National Corp’s holdings in Amgen were worth $3,893,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in AMGN. Briaud Financial Planning Inc bought a new position in shares of Amgen during the 3rd quarter worth approximately $26,000. BOK Financial Private Wealth Inc. acquired a new position in Amgen during the fourth quarter worth $29,000. OFI Invest Asset Management bought a new position in shares of Amgen during the third quarter valued at $26,000. Planned Solutions Inc. bought a new position in shares of Amgen during the fourth quarter valued at $30,000. Finally, Providence Capital Advisors LLC acquired a new stake in shares of Amgen in the 3rd quarter valued at $30,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Trading Up 0.3 %

Shares of AMGN stock traded up $0.82 on Tuesday, hitting $300.30. The stock had a trading volume of 2,452,073 shares, compared to its average volume of 2,910,303. 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 Inc. has a twelve month low of $211.71 and a twelve month high of $329.72. The company has a fifty day moving average price of $275.21 and a two-hundred day moving average price of $281.59. The firm has a market cap of $161.07 billion, a P/E ratio of 42.78, a PEG ratio of 3.00 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last posted its 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 analysts’ expectations of $7.45 billion. During the same period in the previous year, the firm earned $3.98 earnings per share. The company’s revenue was up 22.0% on a year-over-year basis. As a group, analysts forecast that Amgen Inc. will post 19.46 earnings per share for the current fiscal year.

Amgen Dividend Announcement

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 paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend payout ratio is 128.57%.

Insider Activity

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $313.09, for a total transaction 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 approximately $3,094,268.47. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on AMGN shares. SVB Leerink downgraded shares of Amgen from an “outperform” rating to a “market perform” rating and cut their price target for the company from $324.00 to $318.00 in a report on Wednesday, February 7th. Truist Financial reiterated a “buy” rating and issued a $320.00 target price on shares of Amgen in a research note on Friday, April 12th. BMO Capital Markets boosted their price objective on Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a research note on Friday. William Blair upgraded Amgen from a “market perform” rating to an “outperform” rating in a research note on Friday. Finally, The Goldman Sachs Group upped their price target on shares of Amgen from $313.00 to $350.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Amgen currently has an average rating of “Moderate Buy” and a consensus price target of $305.05.

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.