Tcfg Wealth Management LLC Decreases Position in Amgen Inc. (NASDAQ:AMGN)

Tcfg Wealth Management LLC trimmed its position in shares of Amgen Inc. (NASDAQ:AMGN) by 3.7% during the fourth quarter, Holdings Channel reports. The firm owned 1,011 shares of the medical research company’s stock after selling 39 shares during the quarter. Tcfg Wealth Management LLC’s holdings in Amgen were worth $264,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Pathway Financial Advisers LLC lifted its position in shares of Amgen by 33,125.4% in the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after acquiring an additional 4,446,757 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Amgen by 6,812.4% in the third quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock valued at $8,130,610,000 after acquiring an additional 2,486,882 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Amgen by 561.5% in the third quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock valued at $496,117,000 after acquiring an additional 1,306,982 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Amgen by 263.8% in the fourth quarter. Van ECK Associates Corp now owns 1,038,593 shares of the medical research company’s stock valued at $270,699,000 after acquiring an additional 753,147 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of Amgen by 40.7% in the fourth 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 in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Price Performance

AMGN stock opened at $291.16 on Friday. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.96 and a current ratio of 1.26. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The firm has a market cap of $156.51 billion, a P/E ratio of 38.56, a price-to-earnings-growth ratio of 3.01 and a beta of 0.56. The stock has a 50-day simple moving average of $274.12 and a 200-day simple moving average of $301.85.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, beating 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%. On average, equities analysts predict that Amgen Inc. will post 20.59 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. Shareholders of record on Friday, February 14th will be paid a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date is Friday, February 14th. This is a positive change from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio (DPR) is 119.21%.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,589 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 7,210 shares in the company, valued at $2,195,228.70. This trade represents a 18.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Murdo Gordon sold 8,771 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $294.79, for a total value of $2,585,603.09. Following the sale, the executive vice president now owns 44,186 shares of the company’s stock, valued at approximately $13,025,590.94. This trade represents a 16.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,405 shares of company stock worth $10,410,596 in the last 90 days. 0.69% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AMGN. Jefferies Financial Group restated a “buy” rating and issued a $380.00 price objective on shares of Amgen in a research report on Tuesday, November 12th. Leerink Partners reduced their target price on Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Piper Sandler Companies reiterated an “overweight” rating and set a $310.00 target price on shares of Amgen in a research report on Thursday, January 2nd. Citigroup reduced their target price on Amgen from $310.00 to $295.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. Finally, Piper Sandler increased their target price on Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Amgen presently has an average rating of “Hold” and an average target price of $314.09.

Amgen Company 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.