Amgen Inc. (NASDAQ:AMGN) Shares Sold by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC reduced its position in Amgen Inc. (NASDAQ:AMGN) by 25.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,516 shares of the medical research company’s stock after selling 3,500 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Amgen were worth $2,741,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Blossom Wealth Management increased its position in Amgen by 3.5% during the 4th quarter. Blossom Wealth Management now owns 1,090 shares of the medical research company’s stock valued at $284,000 after buying an additional 37 shares in the last quarter. Zullo Investment Group Inc. increased its holdings in shares of Amgen by 2.8% during the fourth quarter. Zullo Investment Group Inc. now owns 1,364 shares of the medical research company’s stock valued at $356,000 after acquiring an additional 37 shares in the last quarter. Brooklyn Investment Group raised its position 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 purchasing an additional 38 shares during the last quarter. Prestige Wealth Management Group LLC boosted its stake in 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 worth $447,000 after purchasing an additional 38 shares in the last quarter. Finally, Evermay Wealth Management LLC grew its position in Amgen by 1.5% during the 4th quarter. Evermay Wealth Management LLC now owns 2,650 shares of the medical research company’s stock worth $691,000 after purchasing an additional 38 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,589 shares of Amgen stock in a transaction that occurred on 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 of the company’s stock, valued at $2,195,228.70. The trade was a 18.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Murdo Gordon sold 8,771 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $294.79, for a total value of $2,585,603.09. Following the completion of the transaction, the executive vice president now directly owns 44,186 shares of the company’s stock, valued at approximately $13,025,590.94. This represents a 16.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,341 shares of company stock valued at $20,644,335. 0.69% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

AMGN has been the subject of a number of research analyst reports. Bank of America raised their price target on shares of Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a report on Wednesday, March 5th. Truist Financial lowered their price target on Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Johnson Rice set a $294.00 price target on Amgen in a research note on Wednesday, March 5th. Royal Bank of Canada restated an “outperform” rating and issued a $324.00 price objective on shares of Amgen in a research note on Friday, January 24th. Finally, Piper Sandler Companies reiterated an “overweight” rating and issued a $310.00 target price on shares of Amgen in a research report on Thursday, January 2nd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $314.04.

Amgen Stock Performance

Shares of AMGN stock opened at $318.65 on Wednesday. The company has a market capitalization of $171.18 billion, a P/E ratio of 42.21, a P/E/G ratio of 2.63 and a beta of 0.53. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The business’s 50 day moving average is $294.12 and its two-hundred day moving average is $298.91. 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 released its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. Analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 annualized dividend and a dividend yield of 2.99%. Amgen’s dividend payout ratio (DPR) is presently 126.09%.

Amgen Company 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.