Phillips Wealth Planners LLC Sells 328 Shares of Amgen Inc. (NASDAQ:AMGN)

Phillips Wealth Planners LLC trimmed its position in shares of Amgen Inc. (NASDAQ:AMGN) by 10.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,772 shares of the medical research company’s stock after selling 328 shares during the quarter. Phillips Wealth Planners LLC’s holdings in Amgen were worth $727,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AMGN. Capital Performance Advisors LLP acquired a new stake in Amgen during the 3rd quarter worth approximately $25,000. Legacy Investment Solutions LLC bought a new stake in shares of Amgen during the third quarter worth $29,000. Hershey Financial Advisers LLC bought a new stake in shares of Amgen during the second quarter worth $30,000. Matrix Trust Co acquired a new stake in shares of Amgen during the third quarter worth $36,000. Finally, Livelsberger Financial Advisory bought a new stake in Amgen in the 3rd quarter valued at $56,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Trading Down 0.5 %

Amgen stock opened at $273.44 on Thursday. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The stock has a market capitalization of $146.98 billion, a P/E ratio of 35.01, a PEG ratio of 2.78 and a beta of 0.56. The stock has a 50-day simple moving average of $272.47 and a 200 day simple moving average of $306.67.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. The business had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. Amgen’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter last year, the company posted $4.96 earnings per share. Analysts expect that Amgen Inc. will post 19.57 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 given a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a yield of 3.48%. Amgen’s dividend payout ratio (DPR) is 115.24%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on AMGN shares. William Blair reiterated an “outperform” rating on shares of Amgen in a report on Tuesday, November 12th. Piper Sandler Companies reiterated an “overweight” rating and set a $310.00 price objective on shares of Amgen in a report on Thursday, January 2nd. Bank of America reaffirmed an “underperform” rating and set a $256.00 price target on shares of Amgen in a research report on Tuesday, December 10th. Leerink Partners lowered their price objective on shares of Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Finally, UBS Group cut their price objective 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, twelve have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $314.91.

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.