Oxford Financial Group LTD. LLC Trims Stake in Amgen Inc. (NASDAQ:AMGN)

Oxford Financial Group LTD. LLC lowered its holdings in Amgen Inc. (NASDAQ:AMGN) by 3.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,262 shares of the medical research company’s stock after selling 81 shares during the period. Oxford Financial Group LTD. LLC’s holdings in Amgen were worth $590,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Blossom Wealth Management raised its position in Amgen by 3.5% in the fourth quarter. Blossom Wealth Management now owns 1,090 shares of the medical research company’s stock valued at $284,000 after purchasing an additional 37 shares during the period. Zullo Investment Group Inc. raised its holdings in shares of Amgen by 2.8% in the 4th quarter. Zullo Investment Group Inc. now owns 1,364 shares of the medical research company’s stock valued at $356,000 after buying an additional 37 shares during the period. Trillium Asset Management LLC raised its holdings in shares of Amgen by 4.2% in the 4th quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company’s stock valued at $237,000 after buying an additional 37 shares during the period. Brooklyn Investment Group raised its holdings in shares of Amgen by 1.1% in the 3rd quarter. Brooklyn Investment Group now owns 3,377 shares of the medical research company’s stock valued at $1,088,000 after buying an additional 38 shares during the period. Finally, Prestige Wealth Management Group LLC raised its holdings in shares of Amgen by 2.8% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 1,387 shares of the medical research company’s stock valued at $447,000 after buying an additional 38 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

AMGN has been the topic of several research analyst reports. Piper Sandler Companies reiterated an “overweight” rating and issued a $310.00 price objective on shares of Amgen in a report on Thursday, January 2nd. UBS Group reiterated a “hold” rating on shares of Amgen in a report on Wednesday, February 12th. Leerink Partners lowered their target price on Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. Citigroup reissued a “neutral” rating on shares of Amgen in a research note on Wednesday, February 5th. Finally, Wells Fargo & Company reissued an “equal weight” rating on shares of Amgen in a research note on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Amgen has an average rating of “Hold” and an average price target of $314.04.

Insider Buying and Selling at Amgen

In other Amgen news, EVP Jonathan P. Graham sold 25,045 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $293.12, for a total transaction of $7,341,190.40. Following the completion of the sale, the executive vice president now directly 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David M. Reese sold 25,225 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $304.44, for a total value of $7,679,499.00. Following the transaction, the executive vice president now directly owns 36,922 shares of the company’s stock, valued at approximately $11,240,533.68. This trade represents a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,341 shares of company stock valued at $20,644,335 in the last ninety days. Insiders own 0.69% of the company’s stock.

Amgen Stock Down 0.2 %

Amgen stock opened at $315.04 on Friday. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. 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 company has a market capitalization of $169.24 billion, a P/E ratio of 41.73, a PEG ratio of 2.63 and a beta of 0.53. The stock has a 50-day simple moving average of $296.17 and a 200-day simple moving average of $299.14.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, beating the consensus estimate of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. Equities research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current 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 paid a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.02%. The ex-dividend date is Friday, May 16th. Amgen’s dividend payout ratio is presently 126.09%.

Amgen Profile

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.