Atlantic Union Bankshares Corp Grows Stock Position in Amgen Inc. $AMGN

Atlantic Union Bankshares Corp lifted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 66.3% during the third quarter, Holdings Channel.com reports. The fund owned 17,698 shares of the medical research company’s stock after acquiring an additional 7,055 shares during the period. Atlantic Union Bankshares Corp’s holdings in Amgen were worth $4,994,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of AMGN. Wealth Quarterback LLC increased its position in shares of Amgen by 1.6% in the 3rd quarter. Wealth Quarterback LLC now owns 2,210 shares of the medical research company’s stock valued at $624,000 after acquiring an additional 34 shares during the period. Nicholson Wealth Management Group LLC grew its stake in Amgen by 0.6% during the 2nd quarter. Nicholson Wealth Management Group LLC now owns 5,918 shares of the medical research company’s stock valued at $1,652,000 after purchasing an additional 35 shares during the last quarter. Crown Wealth Group LLC increased its holdings in shares of Amgen by 4.0% in the third quarter. Crown Wealth Group LLC now owns 910 shares of the medical research company’s stock valued at $257,000 after purchasing an additional 35 shares during the period. LS Investment Advisors LLC raised its stake in shares of Amgen by 4.1% in the third quarter. LS Investment Advisors LLC now owns 885 shares of the medical research company’s stock worth $250,000 after purchasing an additional 35 shares during the last quarter. Finally, Lion Street Advisors LLC lifted its holdings in shares of Amgen by 1.3% during the second quarter. Lion Street Advisors LLC now owns 2,773 shares of the medical research company’s stock worth $774,000 after purchasing an additional 36 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Trading Up 0.8%

Shares of Amgen stock opened at $344.75 on Tuesday. The firm has a 50-day simple moving average of $332.81 and a two-hundred day simple moving average of $309.74. The company has a debt-to-equity ratio of 5.45, a quick ratio of 0.99 and a current ratio of 1.28. Amgen Inc. has a fifty-two week low of $261.43 and a fifty-two week high of $353.25. The company has a market cap of $185.64 billion, a P/E ratio of 26.64, a price-to-earnings-growth ratio of 3.02 and a beta of 0.46.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, November 4th. The medical research company reported $5.64 earnings per share for the quarter, beating the consensus estimate of $5.01 by $0.63. The firm had revenue of $9.56 billion during the quarter, compared to analyst estimates of $8.98 billion. Amgen had a return on equity of 162.59% and a net margin of 19.47%.Amgen’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.58 EPS. As a group, equities analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 13th will be given a $2.52 dividend. This represents a $10.08 dividend on an annualized basis and a dividend yield of 2.9%. This is a boost from Amgen’s previous quarterly dividend of $2.38. The ex-dividend date is Friday, February 13th. Amgen’s dividend payout ratio (DPR) is presently 73.57%.

Insider Transactions at Amgen

In other Amgen news, SVP Rachna Khosla sold 890 shares of the company’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $336.24, for a total transaction of $299,253.60. Following the completion of the transaction, the senior vice president directly owned 7,082 shares in the company, valued at approximately $2,381,251.68. This represents a 11.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Nancy A. Grygiel sold 3,139 shares of the stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $337.26, for a total transaction of $1,058,659.14. Following the transaction, the senior vice president directly owned 7,225 shares in the company, valued at approximately $2,436,703.50. The trade was a 30.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 10,908 shares of company stock valued at $3,674,966 in the last three months. 0.69% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

AMGN has been the topic of several research reports. The Goldman Sachs Group increased their price target on shares of Amgen from $400.00 to $403.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. Oppenheimer set a $400.00 price objective on shares of Amgen and gave the stock an “outperform” rating in a research note on Thursday. BMO Capital Markets raised their target price on shares of Amgen from $335.00 to $372.00 and gave the stock an “outperform” rating in a report on Wednesday, December 3rd. HSBC reaffirmed a “buy” rating and issued a $425.00 price target on shares of Amgen in a report on Wednesday, December 10th. Finally, Wells Fargo & Company lifted their price objective on Amgen from $300.00 to $325.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 10th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $342.45.

Amgen Company Profile

Amgen Inc (NASDAQ: AMGN) is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen’s work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen’s commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.