Institute for Wealth Management LLC. Sells 94 Shares of Amgen Inc. (NASDAQ:AMGN)

Institute for Wealth Management LLC. decreased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 0.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,297 shares of the medical research company’s stock after selling 94 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Amgen were worth $3,205,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in shares of Amgen during the 3rd quarter worth $25,000. Legacy Investment Solutions LLC acquired a new position in Amgen during the third quarter worth about $29,000. Matrix Trust Co bought a new position in shares of Amgen in the third quarter worth about $36,000. Livelsberger Financial Advisory bought a new position in Amgen in the 3rd quarter valued at approximately $56,000. Finally, Icon Wealth Advisors LLC increased its holdings in shares of Amgen by 3,955.0% during the third quarter. Icon Wealth Advisors LLC now owns 174,040 shares of the medical research company’s stock worth $56,000 after buying an additional 169,748 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Up 0.8 %

AMGN opened at $284.02 on Friday. The firm has a market capitalization of $152.67 billion, a P/E ratio of 36.37, a price-to-earnings-growth ratio of 2.85 and a beta of 0.56. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The company has a fifty day moving average price of $271.35 and a 200-day moving average price of $304.99. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating the consensus estimate of $5.11 by $0.47. The firm had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter last year, the company posted $4.96 EPS. Equities research analysts expect that Amgen Inc. will post 19.56 earnings per share for the current fiscal year.

Amgen Increases Dividend

The firm also recently announced 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. This represents a $9.52 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date is Friday, February 14th. This is a boost from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AMGN shares. UBS Group dropped their price target on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. StockNews.com lowered Amgen from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Piper Sandler reduced their price target on Amgen from $344.00 to $310.00 and set an “overweight” rating on the stock in a research report on Thursday, January 2nd. Bank of America restated an “underperform” rating and set a $256.00 price objective on shares of Amgen in a research report on Tuesday, December 10th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $324.00 target price on shares of Amgen in a report on Friday, January 24th. 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 stock. According to MarketBeat, Amgen presently has an average rating of “Hold” and a consensus target price of $314.00.

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.