Tandem Investment Advisors Inc. Buys New Shares in Amgen, Inc. (NASDAQ:AMGN)

Tandem Investment Advisors Inc. bought a new stake in shares of Amgen, Inc. (NASDAQ:AMGN) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 947 shares of the medical research company’s stock, valued at approximately $223,000.

Other institutional investors also recently added to or reduced their stakes in the company. Price Wealth LLC lifted its position in shares of Amgen by 42.9% during the 2nd quarter. Price Wealth LLC now owns 140 shares of the medical research company’s stock valued at $33,000 after acquiring an additional 42 shares during the period. Lake Point Wealth Management lifted its position in shares of Amgen by 1,590.0% during the 1st quarter. Lake Point Wealth Management now owns 169 shares of the medical research company’s stock valued at $34,000 after acquiring an additional 159 shares during the period. Column Capital Advisors LLC lifted its position in shares of Amgen by 98.0% during the 1st quarter. Column Capital Advisors LLC now owns 194 shares of the medical research company’s stock valued at $39,000 after acquiring an additional 96 shares during the period. Campbell Wealth Management acquired a new position in shares of Amgen during the 2nd quarter valued at $51,000. Finally, Providence Capital Advisors LLC acquired a new position in shares of Amgen during the 1st quarter valued at $47,000. Institutional investors own 75.73% of the company’s stock.

In other Amgen news, Director Ronald D. Sugar sold 1,000 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $229.27, for a total transaction of $229,270.00. Following the sale, the director now directly owns 16,482 shares of the company’s stock, valued at $3,778,828.14. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director R Sanders Williams sold 425 shares of the company’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $237.31, for a total transaction of $100,856.75. Following the sale, the director now directly owns 5,834 shares in the company, valued at $1,384,466.54. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,425 shares of company stock worth $818,457. Insiders own 0.36% of the company’s stock.

Several research analysts have weighed in on AMGN shares. Piper Sandler upped their price objective on shares of Amgen from $255.00 to $270.00 and gave the stock an “overweight” rating in a report on Tuesday, July 28th. Jefferies Financial Group upped their price objective on shares of Amgen from $285.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday. Mizuho restated a “hold” rating and set a $215.00 price objective on shares of Amgen in a report on Thursday, April 30th. BMO Capital Markets upped their price objective on shares of Amgen from $274.00 to $291.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Finally, Oppenheimer upped their price objective on shares of Amgen from $252.00 to $265.00 and gave the stock an “outperform” rating in a report on Monday, July 20th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and eighteen have assigned a buy rating to the company’s stock. Amgen has a consensus rating of “Buy” and an average price target of $253.15.

AMGN traded down $1.47 during trading on Friday, hitting $244.67. 2,829,889 shares of the company traded hands, compared to its average volume of 2,016,178. The firm has a market cap of $143.93 billion, a P/E ratio of 19.99, a price-to-earnings-growth ratio of 2.08 and a beta of 0.94. The stock’s fifty day moving average is $244.08 and its 200 day moving average is $227.31. The company has a quick ratio of 1.28, a current ratio of 2.18 and a debt-to-equity ratio of 3.20. Amgen, Inc. has a one year low of $177.05 and a one year high of $264.97.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, July 28th. The medical research company reported $4.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.81 by $0.44. The company had revenue of $6.21 billion during the quarter, compared to analyst estimates of $6.19 billion. Amgen had a net margin of 30.04% and a return on equity of 91.98%. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.97 earnings per share. On average, equities research analysts forecast that Amgen, Inc. will post 15.69 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 17th will be issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 2.62%. The ex-dividend date is Friday, August 14th. Amgen’s dividend payout ratio (DPR) is presently 43.18%.

About Amgen

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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