RWA Wealth Partners LLC trimmed its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 2.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,339 shares of the medical research company's stock after selling 838 shares during the period. RWA Wealth Partners LLC's holdings in Amgen were worth $8,429,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Portland Global Advisors LLC raised its position in Amgen by 0.9% in the 4th quarter. Portland Global Advisors LLC now owns 23,755 shares of the medical research company's stock worth $6,192,000 after purchasing an additional 205 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Amgen in the 4th quarter worth approximately $8,798,000. Allianz SE bought a new position in shares of Amgen during the fourth quarter valued at approximately $9,933,000. Beutel Goodman & Co Ltd. increased its holdings in Amgen by 15.7% during the fourth quarter. Beutel Goodman & Co Ltd. now owns 1,272,425 shares of the medical research company's stock valued at $331,644,000 after buying an additional 172,542 shares during the period. Finally, Biondo Investment Advisors LLC raised its stake in Amgen by 2.3% in the fourth quarter. Biondo Investment Advisors LLC now owns 33,317 shares of the medical research company's stock worth $8,684,000 after buying an additional 735 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on the company. Royal Bank of Canada reiterated an "outperform" rating and issued a $324.00 price target on shares of Amgen in a report on Friday, January 24th. Piper Sandler lifted their target price on Amgen from $310.00 to $329.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. Truist Financial decreased their price target on shares of Amgen from $333.00 to $298.00 and set a "hold" rating for the company in a research report on Wednesday, January 8th. Piper Sandler Companies reaffirmed an "overweight" rating and issued a $310.00 price objective on shares of Amgen in a research report on Thursday, January 2nd. Finally, Wells Fargo & Company reissued an "equal weight" rating on shares of Amgen in a research report on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $314.04.
Read Our Latest Report on AMGN
Amgen Stock Performance
Shares of NASDAQ AMGN traded up $2.71 during trading hours on Thursday, reaching $308.41. The stock had a trading volume of 1,081,782 shares, compared to its average volume of 2,700,780. The firm has a market cap of $165.68 billion, a price-to-earnings ratio of 40.85, a PEG ratio of 2.63 and a beta of 0.53. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The firm has a 50-day moving average of $303.16 and a 200-day moving average of $297.69. 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 - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 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%. Equities research analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.
Amgen Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be given a dividend of $2.38 per share. The ex-dividend date is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a yield of 3.09%. Amgen's payout ratio is currently 126.09%.
Insider Activity
In other Amgen news, SVP Nancy A. Grygiel sold 1,589 shares of the business's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total transaction of $483,802.83. Following the sale, the senior vice president now directly owns 7,210 shares in the company, valued at approximately $2,195,228.70. The trade was a 18.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David M. Reese sold 8,711 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $293.22, for a total value of $2,554,239.42. Following the sale, the executive vice president now owns 62,147 shares in the company, valued at approximately $18,222,743.34. This trade represents a 12.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,341 shares of company stock valued at $20,644,335 over the last quarter. Corporate insiders own 0.69% of the company's stock.
Amgen Company Profile
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Free Report)
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.
Further Reading
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