Tower Research Capital LLC TRC Buys 21,382 Shares of Amgen Inc. (NASDAQ:AMGN)

Tower Research Capital LLC TRC lifted its position in Amgen Inc. (NASDAQ:AMGN) by 62.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,806 shares of the medical research company’s stock after buying an additional 21,382 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Amgen were worth $14,545,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMGN. Centricity Wealth Management LLC acquired a new position in shares of Amgen during the 4th quarter worth about $25,000. Ritter Daniher Financial Advisory LLC DE grew its stake in shares of Amgen by 66.2% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock worth $33,000 after acquiring an additional 51 shares during the last quarter. Synergy Investment Management LLC bought a new position in Amgen during the fourth quarter worth $34,000. Atala Financial Inc acquired a new position in Amgen during the 4th quarter valued at $34,000. Finally, Heck Capital Advisors LLC bought a new stake in Amgen in the 4th quarter valued at $36,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMGN has been the subject of a number of research analyst reports. Bank of America upped their price objective on shares of Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a research report on Wednesday, March 5th. Piper Sandler upped their price target on Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Morgan Stanley lifted their price objective on Amgen from $328.00 to $330.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 9th. UBS Group upped their target price on Amgen from $315.00 to $319.00 and gave the company a “neutral” rating in a research note on Monday, April 14th. Finally, Citigroup reiterated a “neutral” rating on shares of Amgen in a research note on Wednesday, February 5th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Amgen presently has a consensus rating of “Moderate Buy” and an average target price of $314.91.

Insiders Place Their Bets

In other news, EVP Jonathan P. Graham sold 25,045 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $293.12, for a total value of $7,341,190.40. Following the transaction, the executive vice president now owns 28,987 shares of the company’s stock, valued at $8,496,669.44. This represents a 46.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Nancy A. Grygiel sold 1,589 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total value of $483,802.83. Following the transaction, the senior vice president now owns 7,210 shares of the company’s stock, valued at $2,195,228.70. The trade was a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 69,341 shares of company stock valued at $20,644,335. 0.69% of the stock is currently owned by corporate insiders.

Amgen Price Performance

Amgen stock opened at $277.29 on Friday. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The firm has a market cap of $149.09 billion, a P/E ratio of 36.73, a P/E/G ratio of 2.63 and a beta of 0.59. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. The business’s fifty day moving average is $303.04 and its two-hundred day moving average is $294.04.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, topping 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 forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be given a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.43%. The ex-dividend date is Friday, May 16th. Amgen’s dividend payout ratio (DPR) is presently 126.09%.

About Amgen

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.