Amgen Inc. (NASDAQ:AMGN) Shares Sold by Mission Wealth Management LP

Mission Wealth Management LP cut its stake in Amgen Inc. (NASDAQ:AMGN) by 15.3% during the 4th quarter, HoldingsChannel reports. The fund owned 10,463 shares of the medical research company’s stock after selling 1,896 shares during the period. Mission Wealth Management LP’s holdings in Amgen were worth $2,727,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Lansing Street Advisors raised its stake in shares of Amgen by 1.3% in the 3rd quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock valued at $832,000 after purchasing an additional 32 shares in the last quarter. Unionview LLC increased its holdings in Amgen by 3.8% in the third quarter. Unionview LLC now owns 876 shares of the medical research company’s stock valued at $282,000 after buying an additional 32 shares during the last quarter. Avidian Wealth Enterprises LLC raised its stake in Amgen by 0.6% during the third quarter. Avidian Wealth Enterprises LLC now owns 5,863 shares of the medical research company’s stock valued at $1,889,000 after buying an additional 33 shares in the last quarter. Beacon Financial Advisory LLC lifted its holdings in Amgen by 4.6% during the 3rd quarter. Beacon Financial Advisory LLC now owns 769 shares of the medical research company’s stock worth $248,000 after buying an additional 34 shares during the last quarter. Finally, Semus Wealth Partners LLC grew its position in shares of Amgen by 2.3% in the 3rd quarter. Semus Wealth Partners LLC now owns 1,531 shares of the medical research company’s stock worth $493,000 after acquiring an additional 35 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AMGN. Royal Bank of Canada reissued an “outperform” rating and set a $324.00 price target on shares of Amgen in a research report on Friday, January 24th. Wells Fargo & Company reissued an “equal weight” rating on shares of Amgen in a report on Wednesday, February 5th. Bank of America lifted their price target on shares of Amgen from $256.00 to $275.00 and gave the company an “underperform” rating in a report on Thursday, February 6th. Citigroup reiterated a “neutral” rating on shares of Amgen in a research note on Wednesday, February 5th. Finally, Piper Sandler lifted their target price on Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Amgen currently has a consensus rating of “Hold” and a consensus target price of $314.09.

Insider Activity at Amgen

In other Amgen news, EVP David M. Reese sold 25,225 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $304.44, for a total value of $7,679,499.00. Following the completion of the transaction, the executive vice president now directly owns 36,922 shares in the company, valued at $11,240,533.68. This trade represents a 40.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Jonathan P. Graham sold 25,045 shares of Amgen stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $293.12, for a total transaction of $7,341,190.40. Following the completion of the transaction, the executive vice president now directly owns 28,987 shares in the company, valued at approximately $8,496,669.44. This trade represents a 46.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,341 shares of company stock worth $20,644,335 in the last quarter. 0.69% of the stock is owned by company insiders.

Amgen Stock Up 0.9 %

NASDAQ AMGN opened at $310.78 on Tuesday. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The company has a market capitalization of $166.95 billion, a P/E ratio of 41.16, a PEG ratio of 2.63 and a beta of 0.56. The company’s 50 day simple moving average is $281.80 and its 200 day simple moving average is $299.73. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. Equities research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be issued a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a dividend yield of 3.06%. This is an increase from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. Amgen’s dividend payout ratio is currently 126.09%.

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.