Wrapmanager Inc. Lowers Holdings in Amgen Inc. (NASDAQ:AMGN)

Wrapmanager Inc. decreased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 2.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,759 shares of the medical research company’s stock after selling 97 shares during the quarter. Wrapmanager Inc.’s holdings in Amgen were worth $980,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMGN. Capital Performance Advisors LLP acquired a new stake in shares of Amgen during the 3rd quarter worth about $25,000. Legacy Investment Solutions LLC acquired a new stake in shares of Amgen during the third quarter valued at about $29,000. Centricity Wealth Management LLC purchased a new stake in shares of Amgen in the 4th quarter valued at approximately $25,000. Heck Capital Advisors LLC acquired a new position in shares of Amgen in the 4th quarter worth approximately $36,000. Finally, Kennebec Savings Bank acquired a new position in shares of Amgen in the 3rd quarter worth approximately $57,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of Amgen stock opened at $309.72 on Tuesday. The firm has a market capitalization of $166.38 billion, a P/E ratio of 41.02, a P/E/G ratio of 2.63 and a beta of 0.56. 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 Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The firm’s 50 day moving average is $277.14 and its two-hundred day moving average is $300.20.

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

Amgen Increases Dividend

The company 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. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.07%. Amgen’s dividend payout ratio is 126.09%.

Insider Buying and Selling

In related news, EVP Murdo Gordon sold 8,771 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now owns 44,186 shares in the company, valued at $13,025,590.94. This represents a 16.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David M. Reese sold 25,225 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the transaction, the executive vice president now directly owns 36,922 shares in the company, valued at $11,240,533.68. The trade was a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,341 shares of company stock worth $20,644,335 in the last quarter. 0.69% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. William Blair reissued an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. Wolfe Research initiated coverage on Amgen in a report on Friday, November 15th. They issued a “peer perform” rating on the stock. Truist Financial lowered their target price on Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $324.00 price target on shares of Amgen in a research note on Friday, January 24th. Finally, Citigroup reissued a “neutral” rating on shares of Amgen in a research note on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target 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.