Nissay Asset Management Corp Japan ADV Increases Holdings in Amgen Inc. (NASDAQ:AMGN)

Nissay Asset Management Corp Japan ADV grew its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 5.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 121,718 shares of the medical research company’s stock after purchasing an additional 6,489 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Amgen were worth $31,969,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Centricity Wealth Management LLC purchased a new stake in Amgen in the 4th quarter worth about $25,000. Ritter Daniher Financial Advisory LLC DE increased its holdings in Amgen by 66.2% in the 4th 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 purchased a new stake in Amgen in the 4th quarter worth about $34,000. Atala Financial Inc purchased a new stake in Amgen in the 4th quarter worth about $34,000. Finally, Heck Capital Advisors LLC purchased a new stake in Amgen in the 4th quarter worth about $36,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Performance

NASDAQ:AMGN opened at $270.45 on Wednesday. The business has a 50 day moving average of $294.29 and a 200 day moving average of $289.08. The company has a market capitalization of $145.42 billion, a price-to-earnings ratio of 35.82, a PEG ratio of 2.63 and a beta of 0.51. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95.

Amgen (NASDAQ:AMGN) last released its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, topping analysts’ consensus estimates of $4.18 by $0.72. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The company had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. During the same quarter in the previous year, the company posted $3.96 EPS. Amgen’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, sell-side analysts predict that Amgen Inc. will post 20.62 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 6th. Shareholders of record on Friday, May 16th will be given a $2.38 dividend. The ex-dividend date is Friday, May 16th. This represents a $9.52 annualized dividend and a yield of 3.52%. Amgen’s payout ratio is currently 86.86%.

Insider Buying and Selling at Amgen

In other Amgen news, EVP David M. Reese sold 8,711 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $293.22, for a total value of $2,554,239.42. Following the completion of the sale, the executive vice president now owns 62,147 shares in the company, valued at approximately $18,222,743.34. The trade was a 12.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.76% of the company’s stock.

Wall Street Analysts Forecast Growth

AMGN has been the subject of several recent research reports. Citigroup reissued a “neutral” rating on shares of Amgen in a report on Wednesday, February 5th. Bank of America lifted their price objective on Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a report on Wednesday, March 5th. Piper Sandler raised their target price on Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Royal Bank of Canada cut their target price on Amgen from $324.00 to $320.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Finally, Mizuho raised their target price on Amgen from $235.00 to $280.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 7th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $310.23.

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.