Envestnet Asset Management Inc. Has $330.26 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Envestnet Asset Management Inc. cut its holdings in Amgen Inc. (NASDAQ:AMGN) by 0.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,267,091 shares of the medical research company’s stock after selling 8,679 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Amgen were worth $330,255,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AMGN. Blossom Wealth Management boosted its stake 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 in the last quarter. Zullo Investment Group Inc. boosted its position in Amgen by 2.8% in the fourth quarter. Zullo Investment Group Inc. now owns 1,364 shares of the medical research company’s stock valued at $356,000 after buying an additional 37 shares in the last quarter. Trillium Asset Management LLC grew its position in Amgen by 4.2% during the 4th quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company’s stock worth $237,000 after acquiring an additional 37 shares during the last quarter. Prestige Wealth Management Group LLC increased its stake in shares of Amgen by 2.8% in the third quarter. Prestige Wealth Management Group LLC now owns 1,387 shares of the medical research company’s stock valued at $447,000 after buying an additional 38 shares during the period. Finally, Evermay Wealth Management LLC lifted its holdings in shares of Amgen by 1.5% during the fourth 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 period. Institutional investors own 76.50% of the company’s stock.

Insider Transactions at Amgen

In other news, SVP Nancy A. Grygiel sold 1,589 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total value of $483,802.83. Following the transaction, the senior vice president now owns 7,210 shares of the company’s stock, valued at $2,195,228.70. This represents a 18.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP David M. Reese sold 25,225 shares of Amgen stock in a transaction on Friday, February 21st. The stock was sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the sale, the executive vice president now directly owns 36,922 shares of the company’s stock, valued at $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 Price Performance

Shares of NASDAQ AMGN opened at $294.39 on Friday. The stock has a fifty day moving average of $304.18 and a 200-day moving average of $297.24. The stock has a market cap of $158.15 billion, a PE ratio of 38.99, a price-to-earnings-growth 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. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85.

Amgen (NASDAQ:AMGN) last announced its quarterly 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 net margin of 12.24% and a return on equity of 176.32%. Equities research analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.23%. Amgen’s dividend payout ratio (DPR) is currently 126.09%.

Analyst Ratings Changes

AMGN has been the subject of several recent research reports. Piper Sandler Companies reissued an “overweight” rating and issued a $310.00 price target on shares of Amgen in a research note on Thursday, January 2nd. Wells Fargo & Company reissued an “equal weight” rating on shares of Amgen in a research report on Wednesday, February 5th. UBS Group restated a “hold” rating on shares of Amgen in a research report on Wednesday, February 12th. Citigroup reiterated a “neutral” rating on shares of Amgen in a report on Wednesday, February 5th. Finally, Johnson Rice set a $294.00 price objective on shares of Amgen in a research report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $314.04.

About Amgen

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.