Wealth Architects LLC Reduces Position in Amgen Inc. (NASDAQ:AMGN)

Wealth Architects LLC decreased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 5.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,609 shares of the medical research company’s stock after selling 87 shares during the quarter. Wealth Architects LLC’s holdings in Amgen were worth $419,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new position in Amgen during the third quarter worth $29,000. Centricity Wealth Management LLC acquired a new stake in shares of Amgen during the fourth quarter worth $25,000. Synergy Investment Management LLC acquired a new stake in shares of Amgen during the fourth quarter worth $34,000. Atala Financial Inc acquired a new stake in shares of Amgen during the fourth quarter worth $34,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Amgen during the fourth quarter worth $36,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Up 0.3 %

Shares of NASDAQ AMGN opened at $313.71 on Monday. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The firm has a market cap of $168.53 billion, a price-to-earnings ratio of 41.55, a PEG ratio of 2.63 and a beta of 0.53. 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 stock’s 50-day simple moving average is $291.82 and its 200-day simple moving average is $299.12.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, topping 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%. As a group, equities analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders 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 dividend yield of 3.03%. The ex-dividend date is Friday, May 16th. Amgen’s payout ratio is 126.09%.

Analysts Set New Price Targets

AMGN has been the topic of several analyst reports. Redburn Partners decreased their price objective on Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Leerink Partners decreased their price objective on Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Bank of America lifted their target price on Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a report on Wednesday, March 5th. UBS Group reiterated a “hold” rating on shares of Amgen in a report on Wednesday, February 12th. Finally, Piper Sandler lifted their target price on Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a report on Monday, February 10th. 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $314.04.

Insider Transactions at Amgen

In related news, EVP Murdo Gordon sold 8,771 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $294.79, for a total value of $2,585,603.09. Following the completion of the sale, the executive vice president now directly owns 44,186 shares of the company’s stock, valued at $13,025,590.94. The trade was a 16.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total value of $483,802.83. Following the completion of the sale, the senior vice president now directly 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,341 shares of company stock valued at $20,644,335. 0.69% of the stock is currently owned by insiders.

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.