Lodestone Wealth Management LLC Sells 380 Shares of Amgen Inc. (NASDAQ:AMGN)

Lodestone Wealth Management LLC trimmed its holdings in Amgen Inc. (NASDAQ:AMGN) by 2.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 14,253 shares of the medical research company’s stock after selling 380 shares during the quarter. Amgen comprises about 1.9% of Lodestone Wealth Management LLC’s holdings, making the stock its 12th biggest holding. Lodestone Wealth Management LLC’s holdings in Amgen were worth $3,715,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Lansing Street Advisors boosted its holdings in shares of Amgen by 1.3% in the 3rd quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock worth $832,000 after purchasing an additional 32 shares in the last quarter. Unionview LLC boosted its holdings in Amgen by 3.8% during the 3rd quarter. Unionview LLC now owns 876 shares of the medical research company’s stock valued at $282,000 after acquiring an additional 32 shares during the period. AM Investment Strategies LLC boosted its holdings in Amgen by 0.4% during the 3rd quarter. AM Investment Strategies LLC now owns 7,471 shares of the medical research company’s stock valued at $2,407,000 after acquiring an additional 33 shares during the period. Avidian Wealth Enterprises LLC boosted its holdings in Amgen by 0.6% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 5,863 shares of the medical research company’s stock valued at $1,889,000 after acquiring an additional 33 shares during the period. Finally, Beacon Financial Advisory LLC boosted its holdings in Amgen by 4.6% during the 3rd quarter. Beacon Financial Advisory LLC now owns 769 shares of the medical research company’s stock valued at $248,000 after acquiring an additional 34 shares during the period. 76.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the company. Deutsche Bank Aktiengesellschaft lowered their price target on Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. William Blair reissued an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. Truist Financial decreased their target price on Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Wolfe Research started coverage on Amgen in a research note on Friday, November 15th. They issued a “peer perform” rating on the stock. Finally, Bank of America upped their price target on Amgen from $256.00 to $275.00 and gave the stock an “underperform” rating in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $314.09.

Amgen Price Performance

NASDAQ:AMGN opened at $291.16 on Friday. The company has a market capitalization of $156.51 billion, a P/E ratio of 38.56, a P/E/G ratio of 3.01 and a beta of 0.56. The business’s 50-day moving average is $273.75 and its 200 day moving average is $302.14. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The company has a current ratio of 1.26, a quick ratio of 0.96 and a debt-to-equity ratio of 9.62.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, topping 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%. On average, equities research analysts forecast that Amgen Inc. will post 20.59 earnings per share for the current fiscal year.

Amgen Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be issued a dividend of $2.38 per share. The ex-dividend date is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a yield of 3.27%. This is a positive change from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio is currently 126.09%.

Insider Activity

In other Amgen news, EVP Jonathan P. Graham sold 25,045 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 28,987 shares of the company’s stock, valued at approximately $8,496,669.44. This trade represents a 46.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total value of $483,802.83. Following the sale, the senior vice president now directly owns 7,210 shares in the company, valued at $2,195,228.70. This represents a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,405 shares of company stock worth $10,410,596. 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.