Axxcess Wealth Management LLC Sells 3,500 Shares of Amgen Inc. (NASDAQ:AMGN)

Axxcess Wealth Management LLC trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 25.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,516 shares of the medical research company's stock after selling 3,500 shares during the period. Axxcess Wealth Management LLC's holdings in Amgen were worth $2,741,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in Amgen by 25.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company's stock worth $3,441,909,000 after purchasing an additional 2,672,975 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Amgen in the 4th quarter worth about $401,913,000. Van ECK Associates Corp increased its position in Amgen by 263.8% in the 4th quarter. Van ECK Associates Corp now owns 1,038,593 shares of the medical research company's stock worth $270,699,000 after purchasing an additional 753,147 shares during the last quarter. Nordea Investment Management AB increased its position in Amgen by 40.7% in the 4th quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company's stock worth $609,526,000 after purchasing an additional 676,598 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in Amgen by 11.7% in the 3rd quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company's stock worth $1,657,183,000 after purchasing an additional 538,545 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

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Amgen Trading Up 0.3 %

Shares of NASDAQ AMGN traded up $1.00 during midday trading on Friday, hitting $316.04. The stock had a trading volume of 9,994,350 shares, compared to its average volume of 2,552,453. The company's 50-day simple moving average is $297.24 and its 200 day simple moving average is $299.02. The firm has a market cap of $169.78 billion, a P/E ratio of 41.86, a price-to-earnings-growth 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 company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95.

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

Amgen Dividend Announcement

The business 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 $2.38 dividend. The ex-dividend date is Friday, May 16th. This represents a $9.52 annualized dividend and a dividend yield of 3.01%. Amgen's dividend payout ratio is currently 126.09%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on AMGN shares. Citigroup reiterated a "neutral" rating on shares of Amgen in a research note on Wednesday, February 5th. StockNews.com downgraded Amgen from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, December 18th. Royal Bank of Canada reiterated an "outperform" rating and issued a $324.00 price objective on shares of Amgen in a research report on Friday, January 24th. Piper Sandler Companies reiterated an "overweight" rating and issued a $310.00 price objective on shares of Amgen in a research report on Thursday, January 2nd. Finally, Piper Sandler increased their target price on Amgen from $310.00 to $329.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Amgen 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 stock was sold at an average price of $304.44, for a total value of $7,679,499.00. Following the transaction, the executive vice president now directly owns 36,922 shares in the company, valued at $11,240,533.68. This trade represents a 40.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jonathan P. Graham sold 25,045 shares of Amgen stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $293.12, for a total value of $7,341,190.40. Following the transaction, the executive vice president now owns 28,987 shares in the company, valued at approximately $8,496,669.44. This represents a 46.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,341 shares of company stock worth $20,644,335 in the last three months. Insiders own 0.69% of the company's stock.

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.