Robertson Stephens Wealth Management LLC Sells 358 Shares of Amgen Inc. (NASDAQ:AMGN)

Robertson Stephens Wealth Management LLC lowered its position in shares of Amgen Inc. (NASDAQ:AMGN) by 7.7% in the 4th quarter, HoldingsChannel reports. The firm owned 4,298 shares of the medical research company’s stock after selling 358 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in Amgen were worth $1,120,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in AMGN. Pathway Financial Advisers LLC lifted its stake in Amgen by 33,125.4% during the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock worth $1,437,115,000 after purchasing an additional 4,446,757 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Amgen by 6,812.4% during the third quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock worth $8,130,610,000 after purchasing an additional 2,486,882 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Amgen by 561.5% during the third quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock worth $496,117,000 after purchasing an additional 1,306,982 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of 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 valued at $609,526,000 after acquiring an additional 676,598 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of 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 last quarter. Institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AMGN shares. Jefferies Financial Group reissued a “buy” rating and issued a $380.00 target price on shares of Amgen in a research note on Tuesday, November 12th. Piper Sandler Companies reissued an “overweight” rating and issued a $310.00 target price on shares of Amgen in a research note on Thursday, January 2nd. Wolfe Research started coverage on Amgen in a research note on Friday, November 15th. They issued a “peer perform” rating for the company. TD Cowen boosted their target price on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Finally, Citigroup lowered their target price on Amgen from $310.00 to $295.00 and set a “neutral” rating for the company in a research note on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Amgen presently has an average rating of “Hold” and an average price target of $314.83.

Amgen Stock Performance

Shares of AMGN opened at $297.78 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The business’s 50 day moving average price is $271.69 and its 200-day moving average price is $303.55. 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 $160.07 billion, a P/E ratio of 38.13, a P/E/G ratio of 2.87 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, topping analysts’ consensus estimates of $5.04 by $0.27. Amgen had a return on equity of 168.35% and a net margin of 13.00%. Equities research analysts anticipate that Amgen Inc. will post 19.56 earnings per share for the current fiscal year.

Amgen Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be given a $2.38 dividend. The ex-dividend date is Friday, February 14th. This is a boost from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a yield of 3.20%. Amgen’s dividend payout ratio is 126.09%.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,589 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total transaction of $483,802.83. Following the transaction, the senior vice president now directly owns 7,210 shares of the company’s stock, valued at $2,195,228.70. This represents a 18.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.69% of the stock is currently owned by insiders.

Amgen 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.