Morey & Quinn Wealth Partners LLC Takes Position in Amgen Inc. (NASDAQ:AMGN)

Morey & Quinn Wealth Partners LLC bought a new stake in shares of Amgen Inc. (NASDAQ:AMGN) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,437 shares of the medical research company’s stock, valued at approximately $375,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Centricity Wealth Management LLC bought a new stake in Amgen in the 4th quarter valued at about $25,000. Legacy Investment Solutions LLC bought a new stake in shares of Amgen during the third quarter valued at approximately $29,000. Synergy Investment Management LLC bought a new stake in shares of Amgen during the fourth quarter valued at approximately $34,000. Atala Financial Inc bought a new position in Amgen in the 4th quarter worth approximately $34,000. Finally, Heck Capital Advisors LLC acquired a new stake in Amgen in the 4th quarter valued at approximately $36,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Amgen

In other Amgen 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 in the company, valued at approximately $2,195,228.70. This represents a 18.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David M. Reese sold 25,225 shares of the stock in a transaction on Friday, February 21st. The stock was 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 directly owns 36,922 shares in the company, valued at approximately $11,240,533.68. This represents a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,341 shares of company stock valued at $20,644,335. 0.69% of the stock is currently owned by company insiders.

Amgen Trading Down 2.4 %

NASDAQ AMGN opened at $306.86 on Wednesday. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The business has a fifty day simple moving average of $298.92 and a 200 day simple moving average of $298.41. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The firm has a market capitalization of $164.85 billion, a P/E ratio of 40.64, a PEG ratio of 2.63 and a beta of 0.53.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share 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%. On average, analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be issued a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date is Friday, May 16th. Amgen’s dividend payout ratio (DPR) is presently 126.09%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on AMGN shares. Redburn Partners decreased their price target on Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Leerink Partners decreased their target price on Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Amgen in a research note on Wednesday, February 5th. UBS Group restated a “hold” rating on shares of Amgen in a report on Wednesday, February 12th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $314.04.

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.