Envestnet Asset Management Inc. Has $330.26 Million Holdings in Amgen Inc. (NASDAQ:AMGN)

Envestnet Asset Management Inc. lessened its stake in Amgen Inc. (NASDAQ:AMGN) by 0.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,267,091 shares of the medical research company’s stock after selling 8,679 shares during the period. Envestnet Asset Management Inc. owned about 0.24% of Amgen worth $330,255,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Talbot Financial LLC boosted its position in shares of Amgen by 5.6% during the 4th quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company’s stock valued at $11,153,000 after acquiring an additional 2,274 shares in the last quarter. Asset Advisors Investment Management LLC lifted its position in shares of Amgen by 9.0% during the 3rd quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company’s stock worth $11,578,000 after buying an additional 2,954 shares during the period. Principal Financial Group Inc. grew its position in Amgen by 6.0% in the third quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company’s stock valued at $204,659,000 after acquiring an additional 35,785 shares during the period. Ascent Wealth Partners LLC raised its stake in Amgen by 0.7% during the fourth quarter. Ascent Wealth Partners LLC now owns 9,024 shares of the medical research company’s stock worth $2,352,000 after acquiring an additional 64 shares in the last quarter. Finally, ICICI Prudential Asset Management Co Ltd lifted its holdings in shares of Amgen by 242.2% during the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 23,999 shares of the medical research company’s stock valued at $6,255,000 after acquiring an additional 16,985 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Amgen

In related news, EVP Jonathan P. Graham sold 25,045 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total transaction of $483,802.83. Following the sale, the senior vice president now directly owns 7,210 shares of the company’s stock, valued at $2,195,228.70. This represents a 18.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 69,341 shares of company stock worth $20,644,335 in the last ninety days. 0.69% of the stock is owned by company insiders.

Amgen Price Performance

NASDAQ:AMGN opened at $294.39 on Friday. The stock’s 50 day moving average price is $304.18 and its two-hundred day moving average price is $297.24. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The firm has a market capitalization of $158.15 billion, a price-to-earnings ratio of 38.99, a P/E/G ratio of 2.63 and a beta of 0.53. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62.

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, topping analysts’ consensus estimates of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. On average, analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be issued a dividend of $2.38 per share. The ex-dividend date is Friday, May 16th. This represents a $9.52 annualized dividend and a yield of 3.23%. Amgen’s payout ratio is currently 126.09%.

Wall Street Analyst Weigh In

AMGN has been the subject of several analyst reports. Citigroup reissued 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 price target on shares of Amgen in a report on Thursday, January 2nd. Truist Financial decreased their price objective on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $324.00 target price on shares of Amgen in a research report on Friday, January 24th. Finally, Wells Fargo & Company reissued an “equal weight” rating on shares of Amgen in a research note on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $314.04.

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.