Amgen Inc. (NASDAQ:AMGN) Shares Sold by Midland Wealth Advisors LLC

Midland Wealth Advisors LLC reduced its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 10.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,458 shares of the medical research company’s stock after selling 284 shares during the period. Midland Wealth Advisors LLC’s holdings in Amgen were worth $641,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in AMGN. Swedbank AB grew its holdings in shares of Amgen by 1.1% in the 3rd quarter. Swedbank AB now owns 538,899 shares of the medical research company’s stock worth $173,639,000 after acquiring an additional 5,751 shares during the period. Capital Performance Advisors LLP acquired a new stake in Amgen in the third quarter valued at $25,000. CWA Asset Management Group LLC acquired a new stake in Amgen in the third quarter valued at $1,719,000. Rovin Capital UT ADV purchased a new position in shares of Amgen in the third quarter valued at $210,000. Finally, Essex Savings Bank raised its stake in shares of Amgen by 3.9% during the 3rd quarter. Essex Savings Bank now owns 4,219 shares of the medical research company’s stock worth $1,359,000 after buying an additional 160 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Amgen news, EVP Jonathan P. Graham sold 25,045 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $293.12, for a total value 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 $8,496,669.44. This trade represents a 46.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP David M. Reese sold 25,225 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $304.44, for a total value of $7,679,499.00. Following the completion of the sale, the executive vice president now directly owns 36,922 shares of the company’s stock, valued at $11,240,533.68. The trade was a 40.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,341 shares of company stock valued at $20,644,335. Company insiders own 0.69% of the company’s stock.

Amgen Price Performance

Shares of Amgen stock opened at $324.86 on Monday. The stock has a market capitalization of $174.52 billion, a P/E ratio of 43.03, a PEG ratio of 2.63 and a beta of 0.53. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The business’s fifty day moving average price is $286.14 and its 200 day moving average price is $299.48. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85.

Amgen (NASDAQ:AMGN) last issued its 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 return on equity of 176.32% and a net margin of 12.24%. As a group, research analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be given a $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s payout ratio is currently 126.09%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on AMGN shares. Royal Bank of Canada restated an “outperform” rating and set a $324.00 target price on shares of Amgen in a report on Friday, January 24th. UBS Group restated a “hold” rating on shares of Amgen in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft lowered their target price on Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. StockNews.com cut Amgen from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. Finally, Piper Sandler upped their price objective on Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $314.95.

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.