Amgen Inc. (NASDAQ:AMGN) Position Trimmed by Philip James Wealth Mangement LLC

Philip James Wealth Mangement LLC decreased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 5.8% in the 4th quarter, Holdings Channel reports. The firm owned 10,923 shares of the medical research company’s stock after selling 677 shares during the quarter. Philip James Wealth Mangement LLC’s holdings in Amgen were worth $2,847,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in Amgen during the third quarter valued at $25,000. Legacy Investment Solutions LLC bought a new position in shares of Amgen during the third quarter worth about $29,000. Heck Capital Advisors LLC bought a new position in shares of Amgen during the fourth quarter worth about $36,000. Livelsberger Financial Advisory bought a new position in shares of Amgen during the third quarter worth about $56,000. Finally, Kennebec Savings Bank bought a new position in shares of Amgen during the third quarter worth about $57,000. Institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on AMGN shares. Piper Sandler Companies restated an “overweight” rating and set a $310.00 price target on shares of Amgen in a research report on Thursday, January 2nd. Wells Fargo & Company lowered their price target on shares of Amgen from $335.00 to $280.00 and set an “equal weight” rating for the company in a research report on Friday, January 10th. Citigroup lowered their price target on shares of Amgen from $310.00 to $295.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Finally, TD Cowen upped their price objective on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 21st. 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, Amgen currently has a consensus rating of “Hold” and an average price target of $314.09.

Insiders Place Their Bets

In other news, SVP Nancy A. Grygiel sold 1,589 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total value of $483,802.83. Following the transaction, the senior vice president now owns 7,210 shares in the company, valued at $2,195,228.70. This represents a 18.06 % decrease in their position. The sale 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 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 completion of the transaction, the executive vice president now owns 28,987 shares in the company, valued at $8,496,669.44. This represents a 46.35 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,405 shares of company stock worth $10,410,596. Company insiders own 0.69% of the company’s stock.

Amgen Price Performance

NASDAQ AMGN opened at $291.16 on Monday. The stock’s 50-day moving average price is $274.12 and its two-hundred day moving average price is $301.63. The company has a current ratio of 1.26, a quick ratio of 0.96 and a debt-to-equity ratio of 9.62. The company has a market cap of $156.51 billion, a PE ratio of 38.56, a PEG ratio of 3.01 and a beta of 0.56. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, topping 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%. On average, analysts predict that Amgen Inc. will post 20.59 EPS 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 dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.27%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $2.25. Amgen’s payout ratio is presently 119.21%.

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.