Perfromance Wealth Partners LLC Trims Stake in Amgen Inc. (NASDAQ:AMGN)

Perfromance Wealth Partners LLC lessened its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 25.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,821 shares of the medical research company's stock after selling 1,615 shares during the quarter. Perfromance Wealth Partners LLC's holdings in Amgen were worth $1,257,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Octavia Wealth Advisors LLC lifted its position in Amgen by 1.7% during the fourth quarter. Octavia Wealth Advisors LLC now owns 2,400 shares of the medical research company's stock valued at $625,000 after purchasing an additional 41 shares in the last quarter. Fort Washington Investment Advisors Inc. OH grew its stake in shares of Amgen by 19.7% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 78,815 shares of the medical research company's stock valued at $20,542,000 after acquiring an additional 12,959 shares during the period. Transform Wealth LLC increased its holdings in Amgen by 10.7% in the 4th quarter. Transform Wealth LLC now owns 1,354 shares of the medical research company's stock worth $353,000 after acquiring an additional 131 shares in the last quarter. Chesley Taft & Associates LLC raised its stake in Amgen by 2.0% during the 4th quarter. Chesley Taft & Associates LLC now owns 19,305 shares of the medical research company's stock worth $5,032,000 after acquiring an additional 383 shares during the period. Finally, Clear Harbor Asset Management LLC raised its stake in Amgen by 1.1% during the 4th quarter. Clear Harbor Asset Management LLC now owns 9,371 shares of the medical research company's stock worth $2,442,000 after acquiring an additional 104 shares during the period. Institutional investors own 76.50% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Piper Sandler Companies reissued an "overweight" rating and issued a $310.00 price objective on shares of Amgen in a research note on Thursday, January 2nd. UBS Group cut their price target on Amgen from $335.00 to $326.00 and set a "neutral" rating for the company in a research note on Thursday, October 31st. StockNews.com downgraded Amgen from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, December 18th. Piper Sandler cut their target price on Amgen from $344.00 to $310.00 and set an "overweight" rating for the company in a research report on Thursday, January 2nd. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $405.00 price target on shares of Amgen in a research note on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Amgen currently has an average rating of "Hold" and an average price target of $314.91.

Amgen Trading Down 0.5 %

NASDAQ:AMGN traded down $1.34 during mid-day trading on Wednesday, hitting $273.47. 923,825 shares of the stock traded hands, compared to its average volume of 3,003,361. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The stock has a market capitalization of $147.00 billion, a price-to-earnings ratio of 34.96, a PEG ratio of 2.78 and a beta of 0.56. The firm's 50 day moving average is $272.47 and its two-hundred day moving average is $306.67.

Amgen (NASDAQ:AMGN - Get Free Report) last released its earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating analysts' consensus estimates of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm had revenue of $8.50 billion for the quarter, compared to analysts' expectations of $8.50 billion. During the same quarter in the prior year, the firm posted $4.96 earnings per share. The company's quarterly revenue was up 23.2% on a year-over-year basis. On average, equities research analysts predict that Amgen Inc. will post 19.57 earnings per share for the current year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be issued a $2.38 dividend. The ex-dividend date is Friday, February 14th. This is a boost from Amgen's previous quarterly dividend of $2.25. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.48%. Amgen's dividend payout ratio is presently 115.24%.

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.