WESPAC Advisors LLC Has $776,000 Position in Amgen Inc. (NASDAQ:AMGN)

WESPAC Advisors LLC lowered its position in shares of Amgen Inc. (NASDAQ:AMGN) by 28.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,978 shares of the medical research company’s stock after selling 1,203 shares during the quarter. WESPAC Advisors LLC’s holdings in Amgen were worth $776,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Pathway Financial Advisers LLC lifted its stake in Amgen by 33,125.4% in the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after buying an additional 4,446,757 shares in the last quarter. Van ECK Associates Corp lifted its stake in Amgen by 263.8% in the fourth quarter. Van ECK Associates Corp now owns 1,038,593 shares of the medical research company’s stock valued at $270,699,000 after buying an additional 753,147 shares in the last quarter. Nordea Investment Management AB lifted its stake in Amgen by 40.7% in the fourth quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company’s stock valued at $609,526,000 after buying an additional 676,598 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Amgen by 11.7% in the third quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock valued at $1,657,183,000 after buying an additional 538,545 shares in the last quarter. Finally, State Street Corp lifted its stake in Amgen by 1.2% in the third quarter. State Street Corp now owns 29,317,018 shares of the medical research company’s stock valued at $9,446,236,000 after buying an additional 345,537 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Price Performance

NASDAQ:AMGN opened at $303.01 on Friday. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The company has a market cap of $162.78 billion, a P/E ratio of 40.13, a P/E/G ratio of 2.58 and a beta of 0.56. The firm’s fifty day moving average price is $276.27 and its two-hundred day moving average price is $300.40. 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) last released its quarterly earnings data 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 net margin of 12.24% and a return on equity of 176.32%. Equities analysts expect that Amgen Inc. will post 20.6 earnings per share for the current year.

Amgen Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be issued a $2.38 dividend. This is an increase from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s payout ratio is currently 126.09%.

Insider Buying and Selling at Amgen

In related news, EVP Jonathan P. Graham sold 25,045 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were 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 directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now owns 7,210 shares in the company, valued at $2,195,228.70. This trade represents a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,341 shares of company stock worth $20,644,335 over the last ninety days. Insiders own 0.69% of the company’s stock.

Wall Street Analysts Forecast Growth

AMGN has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft cut their price target on shares of Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Citigroup reissued a “neutral” rating on shares of Amgen in a research report on Wednesday, February 5th. Piper Sandler Companies reissued an “overweight” rating and issued a $310.00 price objective on shares of Amgen in a research report on Thursday, January 2nd. Redburn Partners cut their price objective on shares of Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $324.00 price objective on shares of Amgen in a research report on Friday, January 24th. Two 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 company. According to MarketBeat, Amgen has a consensus rating of “Hold” and an average price target of $314.09.

Amgen Company 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.