Atlantic Union Bankshares Corp Purchases 7,055 Shares of Amgen Inc. $AMGN

Atlantic Union Bankshares Corp raised its position in Amgen Inc. (NASDAQ:AMGN) by 66.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,698 shares of the medical research company’s stock after purchasing an additional 7,055 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Amgen were worth $4,994,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of AMGN. Legacy Investment Solutions LLC bought a new stake in shares of Amgen during the 2nd quarter worth approximately $27,000. Evelyn Partners Investment Management LLP bought a new position in Amgen in the 2nd quarter valued at $32,000. Howard Hughes Medical Institute purchased a new stake in Amgen in the second quarter worth $32,000. Quaker Wealth Management LLC lifted its position in shares of Amgen by 200.0% during the second quarter. Quaker Wealth Management LLC now owns 120 shares of the medical research company’s stock worth $34,000 after purchasing an additional 240 shares during the last quarter. Finally, Cloud Capital Management LLC bought a new stake in shares of Amgen during the third quarter worth $34,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 3,139 shares of Amgen stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $337.26, for a total value of $1,058,659.14. Following the transaction, the senior vice president owned 7,225 shares of the company’s stock, valued at $2,436,703.50. The trade was a 30.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Murdo Gordon sold 6,879 shares of the stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $336.83, for a total transaction of $2,317,053.57. Following the sale, the executive vice president directly owned 41,923 shares of the company’s stock, valued at $14,120,924.09. The trade was a 14.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 10,908 shares of company stock worth $3,674,966. Corporate insiders own 0.69% of the company’s stock.

Amgen Trading Up 0.8%

Shares of NASDAQ:AMGN opened at $344.75 on Tuesday. Amgen Inc. has a 12-month low of $261.43 and a 12-month high of $353.25. The business’s fifty day simple moving average is $332.81 and its 200-day simple moving average is $309.74. The company has a market capitalization of $185.64 billion, a PE ratio of 26.64, a P/E/G ratio of 3.02 and a beta of 0.46. The company has a current ratio of 1.28, a quick ratio of 0.99 and a debt-to-equity ratio of 5.45.

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

Amgen Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 13th will be given a dividend of $2.52 per share. The ex-dividend date of this dividend is Friday, February 13th. This is a positive change from Amgen’s previous quarterly dividend of $2.38. This represents a $10.08 annualized dividend and a dividend yield of 2.9%. Amgen’s payout ratio is currently 73.57%.

Wall Street Analyst Weigh In

Several research analysts recently commented on AMGN shares. Wells Fargo & Company raised their price target on shares of Amgen from $300.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 10th. Daiwa Capital Markets upped their target price on shares of Amgen from $310.00 to $370.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 18th. Erste Group Bank raised shares of Amgen from a “hold” rating to a “buy” rating in a research note on Friday, December 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Amgen in a report on Monday, December 29th. Finally, Scotiabank started coverage on Amgen in a report on Thursday, November 13th. They set a “sector outperform” rating and a $385.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Amgen has a consensus rating of “Moderate Buy” and an average 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.