WealthPlan Investment Management LLC Has $8.77 Million Position in Amgen Inc. (NASDAQ:AMGN)

WealthPlan Investment Management LLC cut its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 13.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,658 shares of the medical research company's stock after selling 5,297 shares during the quarter. WealthPlan Investment Management LLC's holdings in Amgen were worth $8,773,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMGN. Capital Performance Advisors LLP acquired a new stake in Amgen in the 3rd quarter worth $25,000. Legacy Investment Solutions LLC acquired a new stake in Amgen in the 3rd quarter worth $29,000. Heck Capital Advisors LLC acquired a new stake in Amgen in the 4th quarter worth $36,000. PrairieView Partners LLC grew its position in Amgen by 118.3% in the 4th quarter. PrairieView Partners LLC now owns 179 shares of the medical research company's stock worth $46,000 after purchasing an additional 97 shares during the last quarter. Finally, Wingate Wealth Advisors Inc. acquired a new stake in Amgen in the 4th quarter worth $52,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Amgen

In other news, SVP Nancy A. Grygiel sold 1,589 shares of Amgen stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 7,210 shares in the company, valued at $2,195,228.70. The trade was a 18.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jonathan P. Graham sold 25,045 shares of Amgen stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $293.12, for a total transaction of $7,341,190.40. Following the sale, the executive vice president now owns 28,987 shares of the company's stock, valued at approximately $8,496,669.44. This represents a 46.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,405 shares of company stock worth $10,410,596 in the last quarter. 0.69% of the stock is owned by company insiders.

Amgen Price Performance

Shares of NASDAQ AMGN traded up $1.47 during trading on Wednesday, reaching $294.27. The company had a trading volume of 2,806,841 shares, compared to its average volume of 3,145,679. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The stock has a market cap of $158.18 billion, a PE ratio of 38.98, a PEG ratio of 2.53 and a beta of 0.56. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. The business's 50 day moving average price is $274.73 and its 200-day moving average price is $300.81.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share 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%. Analysts expect that Amgen Inc. will post 20.6 earnings per share for the current year.

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be given a dividend of $2.38 per share. This is a boost from Amgen's previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 annualized dividend and a dividend yield of 3.24%. Amgen's payout ratio is currently 126.09%.

Analyst Ratings Changes

Several analysts have issued reports on AMGN shares. Citigroup decreased their price target on shares of Amgen from $310.00 to $295.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 28th. William Blair restated an "outperform" rating on shares of Amgen in a research report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Wolfe Research started coverage on shares of Amgen in a research report on Friday, November 15th. They set a "peer perform" rating on the stock. Finally, UBS Group decreased their target price on shares of Amgen from $335.00 to $326.00 and set a "neutral" rating on the stock in a research report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $314.09.

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.