Naviter Wealth LLC Purchases 1,791 Shares of Amgen Inc. (NASDAQ:AMGN)

Naviter Wealth LLC boosted its position in shares of Amgen Inc. (NASDAQ:AMGN) by 33.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,104 shares of the medical research company’s stock after buying an additional 1,791 shares during the period. Naviter Wealth LLC’s holdings in Amgen were worth $1,852,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Unionview LLC grew its stake in shares of Amgen by 3.8% in the third quarter. Unionview LLC now owns 876 shares of the medical research company’s stock worth $282,000 after acquiring an additional 32 shares in the last quarter. Semus Wealth Partners LLC increased its holdings in Amgen by 2.3% during the 3rd quarter. Semus Wealth Partners LLC now owns 1,531 shares of the medical research company’s stock worth $493,000 after purchasing an additional 35 shares during the period. Connable Office Inc. increased its holdings in Amgen by 0.5% during the 3rd quarter. Connable Office Inc. now owns 6,972 shares of the medical research company’s stock worth $2,246,000 after purchasing an additional 37 shares during the period. Blossom Wealth Management raised its position 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 purchasing an additional 37 shares in the last quarter. Finally, Zullo Investment Group Inc. grew its position in shares of Amgen by 2.8% during the fourth quarter. Zullo Investment Group Inc. now owns 1,364 shares of the medical research company’s stock worth $356,000 after buying an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insider Activity at Amgen

In related news, EVP Jonathan P. Graham sold 25,045 shares of the firm’s stock in a transaction that occurred on 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 completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Nancy A. Grygiel sold 1,589 shares of Amgen stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total value of $483,802.83. Following the transaction, the senior vice president now directly owns 7,210 shares of the company’s stock, valued at approximately $2,195,228.70. This represents a 18.06 % 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 over the last 90 days. Company insiders own 0.69% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on AMGN shares. Leerink Partners reduced their target price on shares of Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Citigroup restated a “neutral” rating on shares of Amgen in a report on Wednesday, February 5th. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $310.00 target price on shares of Amgen in a research report on Thursday, January 2nd. StockNews.com downgraded shares of Amgen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $380.00 target price on shares of Amgen in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Amgen currently has a consensus rating of “Hold” and an average price target of $314.95.

Amgen Stock Performance

NASDAQ AMGN opened at $324.86 on Friday. The stock has a market capitalization of $174.52 billion, a price-to-earnings ratio of 43.03, a PEG ratio of 2.63 and a beta of 0.53. The business’s 50 day moving average is $286.14 and its two-hundred day moving average is $299.69. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share 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%. Research analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be paid 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 dividend payout ratio (DPR) is 126.09%.

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.