Modern Wealth Management LLC Buys 2,934 Shares of Amgen Inc. (NASDAQ:AMGN)

Modern Wealth Management LLC grew its position in shares of Amgen Inc. (NASDAQ:AMGN) by 171.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,645 shares of the medical research company’s stock after acquiring an additional 2,934 shares during the quarter. Modern Wealth Management LLC’s holdings in Amgen were worth $1,211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Centricity Wealth Management LLC bought a new position in Amgen in the fourth quarter worth approximately $25,000. Legacy Investment Solutions LLC purchased a new position in Amgen during the third quarter valued at $29,000. Synergy Investment Management LLC bought a new stake in Amgen during the fourth quarter valued at about $34,000. Atala Financial Inc purchased a new stake in Amgen in the fourth quarter worth about $34,000. Finally, Heck Capital Advisors LLC bought a new position in shares of Amgen in the fourth quarter worth about $36,000. Institutional investors own 76.50% of the company’s stock.

Amgen Trading Down 0.4 %

Shares of NASDAQ AMGN opened at $305.71 on Thursday. 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. The business’s 50 day moving average is $299.66 and its two-hundred day moving average is $298.46. The stock has a market capitalization of $164.23 billion, a P/E ratio of 40.49, a PEG ratio of 2.63 and a beta of 0.53.

Amgen (NASDAQ:AMGN) last released its quarterly 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%. As a group, research analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be paid a dividend of $2.38 per share. The ex-dividend date is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.11%. Amgen’s dividend payout ratio is presently 126.09%.

Wall Street Analyst Weigh In

AMGN has been the subject of a number of recent research reports. Redburn Partners cut their price objective on Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Truist Financial reduced their price objective on shares of Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Bank of America lifted their target price on shares of Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a research note on Wednesday, March 5th. Piper Sandler Companies reiterated an “overweight” rating and issued a $310.00 price target on shares of Amgen in a research note on Thursday, January 2nd. Finally, Johnson Rice set a $294.00 price objective on Amgen in a research note on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $314.04.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,589 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total transaction of $483,802.83. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Jonathan P. Graham sold 25,045 shares of the firm’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 value of $7,341,190.40. Following 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,341 shares of company stock worth $20,644,335. Insiders own 0.69% of the company’s stock.

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.