EverSource Wealth Advisors LLC Has $7.58 Million Position in Amgen Inc. (NASDAQ:AMGN)

EverSource Wealth Advisors LLC lowered its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,063 shares of the medical research company’s stock after selling 408 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Amgen were worth $7,575,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in shares of Amgen during the third quarter worth about $25,000. Legacy Investment Solutions LLC acquired a new stake in shares of Amgen during the third quarter worth about $29,000. Centricity Wealth Management LLC acquired a new stake in shares of Amgen during the fourth quarter worth about $25,000. Synergy Investment Management LLC acquired a new stake in shares of Amgen during the fourth quarter worth about $34,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Amgen during the fourth quarter worth about $36,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analysts Set New Price Targets

AMGN has been the subject of a number of research reports. Leerink Partners decreased their price objective on Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Bank of America lifted their price objective on shares of Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a report on Wednesday, March 5th. Piper Sandler increased their target price on shares of Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. William Blair reiterated an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. Finally, Redburn Partners cut their price target on shares of Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Amgen currently has an average rating of “Hold” and a consensus target price of $314.04.

Amgen Trading Down 2.6 %

Shares of AMGN stock opened at $318.89 on Wednesday. The firm has a 50 day moving average price of $288.66 and a two-hundred day moving average price of $299.43. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The company has a market capitalization of $171.31 billion, a PE ratio of 42.24, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85.

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

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be issued a dividend of $2.38 per share. The ex-dividend date is Friday, May 16th. This represents a $9.52 annualized dividend and a dividend yield of 2.99%. Amgen’s dividend payout ratio is presently 126.09%.

Insider Transactions at Amgen

In other news, EVP Jonathan P. Graham sold 25,045 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $293.12, for a total transaction of $7,341,190.40. Following the transaction, the executive vice president now directly owns 28,987 shares of the company’s stock, valued at approximately $8,496,669.44. This trade represents a 46.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Nancy A. Grygiel sold 1,589 shares of Amgen stock in a transaction that occurred on 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 directly 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. Over the last ninety days, insiders have sold 69,341 shares of company stock valued at $20,644,335. 0.69% of the stock is currently owned by company 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.