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

Financial Network Wealth Management LLC reduced its stake in Amgen Inc. (NASDAQ:AMGN) by 9.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 912 shares of the medical research company’s stock after selling 100 shares during the quarter. Financial Network Wealth Management LLC’s holdings in Amgen were worth $237,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Blossom Wealth Management increased its position in shares of Amgen by 3.5% in the 4th quarter. Blossom Wealth Management now owns 1,090 shares of the medical research company’s stock valued at $284,000 after purchasing an additional 37 shares during the last quarter. Zullo Investment Group Inc. increased its position in shares of Amgen by 2.8% in the 4th quarter. Zullo Investment Group Inc. now owns 1,364 shares of the medical research company’s stock valued at $356,000 after purchasing an additional 37 shares during the last quarter. Trillium Asset Management LLC increased its position in shares of Amgen by 4.2% in the 4th quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company’s stock valued at $237,000 after purchasing an additional 37 shares during the last quarter. Brooklyn Investment Group increased 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. Finally, Prestige Wealth Management Group LLC increased its position in shares of 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 valued at $447,000 after purchasing an additional 38 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Down 0.2 %

Shares of NASDAQ:AMGN opened at $315.04 on Friday. The stock has a market cap of $169.24 billion, a P/E ratio of 41.73, a P/E/G ratio of 2.63 and a beta of 0.53. The firm has a fifty day moving average price of $296.17 and a 200 day moving average price of $299.14. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, topping the consensus estimate of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. Sell-side analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be paid a $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 3.02%. The ex-dividend date is Friday, May 16th. Amgen’s dividend payout ratio (DPR) is presently 126.09%.

Wall Street Analyst Weigh In

A number of brokerages have commented on AMGN. Redburn Partners dropped their price objective on shares of Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Citigroup reaffirmed a “neutral” rating on shares of Amgen in a research report on Wednesday, February 5th. Johnson Rice set a $294.00 target price on shares of Amgen in a research report on Wednesday, March 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $324.00 target price on shares of Amgen in a research report on Friday, January 24th. Finally, Piper Sandler Companies reaffirmed an “overweight” rating and issued a $310.00 target price on shares of Amgen in a research report on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $314.04.

Insider Transactions at Amgen

In other news, EVP David M. Reese sold 25,225 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $304.44, for a total value of $7,679,499.00. Following the completion of the sale, the executive vice president now owns 36,922 shares in the company, valued at approximately $11,240,533.68. This trade represents a 40.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Nancy A. Grygiel sold 1,589 shares of the firm’s stock in a transaction 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 completion of the sale, the senior vice president now owns 7,210 shares of the company’s stock, valued at $2,195,228.70. This trade represents a 18.06 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,341 shares of company stock worth $20,644,335. Company insiders own 0.69% of the company’s stock.

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.