Amgen Inc. (NASDAQ:AMGN) Holdings Decreased by Prestige Wealth Management Group LLC

Prestige Wealth Management Group LLC lessened its stake in Amgen Inc. (NASDAQ:AMGN) by 28.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 990 shares of the medical research company’s stock after selling 397 shares during the period. Prestige Wealth Management Group LLC’s holdings in Amgen were worth $258,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AMGN. Centricity Wealth Management LLC bought a new position in Amgen during the fourth quarter valued at about $25,000. Legacy Investment Solutions LLC bought a new position in shares of Amgen during the 3rd quarter valued at about $29,000. Synergy Investment Management LLC acquired a new position in shares of Amgen in the 4th quarter worth approximately $34,000. Atala Financial Inc bought a new stake in shares of Amgen in the 4th quarter worth approximately $34,000. Finally, Heck Capital Advisors LLC acquired a new stake in Amgen during the fourth quarter valued at approximately $36,000. 76.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on AMGN. Wells Fargo & Company restated an “equal weight” rating on shares of Amgen in a research report on Wednesday, February 5th. StockNews.com cut Amgen from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. Leerink Partners reduced their target price on Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Piper Sandler Companies reissued an “overweight” rating and issued a $310.00 price target on shares of Amgen in a research note on Thursday, January 2nd. Finally, Citigroup reiterated a “neutral” rating on shares of Amgen in a research report on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Amgen currently has a consensus rating of “Hold” and a consensus price target of $314.04.

Insider Activity at Amgen

In other Amgen news, EVP Jonathan P. Graham sold 25,045 shares of Amgen stock in a transaction on Friday, February 7th. The shares were sold at an average price of $293.12, for a total transaction of $7,341,190.40. Following the sale, the executive vice president now owns 28,987 shares in the company, valued at $8,496,669.44. The trade was a 46.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total transaction of $483,802.83. Following the completion of the transaction, the senior vice president now owns 7,210 shares of the company’s stock, valued at approximately $2,195,228.70. This represents a 18.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,341 shares of company stock worth $20,644,335 over the last three months. Company insiders own 0.69% of the company’s stock.

Amgen Stock Down 2.4 %

AMGN stock opened at $306.86 on Wednesday. The firm has a market cap of $164.85 billion, a PE ratio of 40.64, a PEG ratio of 2.63 and a beta of 0.53. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The company has a fifty day simple moving average of $298.92 and a 200 day simple moving average of $298.41. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, beating analysts’ consensus estimates of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. Sell-side analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be given a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date is Friday, May 16th. Amgen’s dividend payout ratio (DPR) 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.