RWA Wealth Partners LLC Cuts Position in Amgen Inc. (NASDAQ:AMGN)

RWA Wealth Partners LLC reduced its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 2.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 32,339 shares of the medical research company’s stock after selling 838 shares during the period. RWA Wealth Partners LLC’s holdings in Amgen were worth $8,429,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in AMGN. Blossom Wealth Management increased its stake in Amgen by 3.5% in the 4th quarter. Blossom Wealth Management now owns 1,090 shares of the medical research company’s stock valued at $284,000 after buying an additional 37 shares during the period. Zullo Investment Group Inc. grew its holdings in shares of Amgen by 2.8% during the 4th quarter. Zullo Investment Group Inc. now owns 1,364 shares of the medical research company’s stock valued at $356,000 after acquiring an additional 37 shares in the last quarter. Trillium Asset Management LLC increased its stake in shares of Amgen by 4.2% in the fourth quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company’s stock worth $237,000 after acquiring an additional 37 shares during the last quarter. Prestige Wealth Management Group LLC raised its holdings in shares of Amgen by 2.8% during the third quarter. Prestige Wealth Management Group LLC now owns 1,387 shares of the medical research company’s stock worth $447,000 after acquiring an additional 38 shares in the last quarter. Finally, Evermay Wealth Management LLC boosted its position in Amgen by 1.5% during the fourth quarter. Evermay Wealth Management LLC now owns 2,650 shares of the medical research company’s stock valued at $691,000 after purchasing an additional 38 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 1,589 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total value 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. This represents a 18.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David M. Reese sold 25,225 shares of Amgen stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the transaction, the executive vice president now directly owns 36,922 shares of the company’s stock, valued at $11,240,533.68. This represents a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,341 shares of company stock worth $20,644,335. Company insiders own 0.69% of the company’s stock.

Amgen Stock Up 0.4 %

Shares of AMGN opened at $306.95 on Friday. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. The company has a 50-day simple moving average of $301.08 and a 200-day simple moving average of $298.16. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The firm has a market capitalization of $164.90 billion, a P/E ratio of 40.66, a P/E/G ratio of 2.63 and a beta of 0.53.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data 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 net margin of 12.24% and a return on equity of 176.32%. On average, equities research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The business 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 dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date is Friday, May 16th. Amgen’s payout ratio is 126.09%.

Wall Street Analyst Weigh In

AMGN has been the subject of a number of recent research reports. Truist Financial cut their price target on Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Citigroup reiterated a “neutral” rating on shares of Amgen in a research note on Wednesday, February 5th. Johnson Rice set a $294.00 price target on shares of Amgen in a research note on Wednesday, March 5th. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $310.00 price objective on shares of Amgen in a research note on Thursday, January 2nd. Finally, 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 research report on Monday, February 10th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Amgen currently has an average rating of “Moderate Buy” and an average price target of $314.04.

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.