Core Wealth Partners LLC Cuts Stake in Amgen Inc. (NASDAQ:AMGN)

Core Wealth Partners LLC lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 8.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,369 shares of the medical research company’s stock after selling 132 shares during the period. Core Wealth Partners LLC’s holdings in Amgen were worth $357,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its holdings in shares of 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 period. Raymond James Financial Inc. bought a new position in shares of Amgen during the 4th quarter worth $401,913,000. Van ECK Associates Corp increased its holdings 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 acquiring an additional 753,147 shares during the last quarter. Nordea Investment Management AB increased its holdings 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 acquiring an additional 676,598 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake 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 valued at $1,657,183,000 after acquiring an additional 538,545 shares during the period. Institutional investors own 76.50% of the company’s stock.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 1,589 shares of Amgen 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 sale, the senior vice president now owns 7,210 shares of the company’s stock, valued at approximately $2,195,228.70. The trade was a 18.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP David M. Reese sold 8,711 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $293.22, for a total transaction of $2,554,239.42. Following the completion of the sale, the executive vice president now owns 62,147 shares of the company’s stock, valued at $18,222,743.34. This trade represents a 12.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,341 shares of company stock valued at $20,644,335. Company insiders own 0.69% of the company’s stock.

Wall Street Analyst Weigh In

AMGN has been the topic of several research reports. 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 set a $310.00 target price on shares of Amgen in a report on Thursday, January 2nd. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Amgen in a report on Wednesday, February 5th. Truist Financial decreased their price objective on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Finally, UBS Group reaffirmed a “hold” rating on shares of Amgen in a report on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Amgen currently has an average rating of “Hold” and an average price target of $314.04.

Amgen Stock Performance

NASDAQ:AMGN opened at $306.86 on Wednesday. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The business has a 50 day moving average price of $298.92 and a 200-day moving average price of $298.41. The firm has a market cap of $164.85 billion, a PE ratio of 40.64, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) 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%. Equities research analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be issued a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s dividend payout ratio (DPR) is currently 126.09%.

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.