Legacy Capital Wealth Partners LLC Has $793,000 Position in Amgen Inc. (NASDAQ:AMGN)

Legacy Capital Wealth Partners LLC lessened its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 14.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,042 shares of the medical research company’s stock after selling 533 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Amgen were worth $793,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AMF Tjanstepension AB grew its stake in shares of Amgen by 16.9% during the third quarter. AMF Tjanstepension AB now owns 120,389 shares of the medical research company’s stock valued at $38,825,000 after purchasing an additional 17,387 shares during the last quarter. Creative Planning lifted its holdings in Amgen by 8.6% during the 3rd quarter. Creative Planning now owns 197,457 shares of the medical research company’s stock worth $63,402,000 after buying an additional 15,564 shares in the last quarter. Swedbank AB boosted its position in Amgen by 1.1% in the 3rd quarter. Swedbank AB now owns 538,899 shares of the medical research company’s stock valued at $173,639,000 after buying an additional 5,751 shares during the last quarter. Cornerstone Wealth Management LLC boosted its position in Amgen by 73.2% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 2,270 shares of the medical research company’s stock valued at $732,000 after buying an additional 959 shares during the last quarter. Finally, nVerses Capital LLC increased its stake in shares of Amgen by 800.0% in the 3rd quarter. nVerses Capital LLC now owns 900 shares of the medical research company’s stock valued at $290,000 after buying an additional 800 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMGN has been the topic of several recent research reports. TD Cowen raised their price target on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a report on Monday, October 21st. Truist Financial cut their price objective on shares of Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Piper Sandler lifted their target price on shares of Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Bank of America increased their price target on Amgen from $256.00 to $275.00 and gave the company an “underperform” rating in a research note on Thursday, February 6th. Finally, Piper Sandler Companies restated an “overweight” rating and issued a $310.00 price target on shares of Amgen in a research report on Thursday, January 2nd. Two investment 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 company’s stock. According to data from MarketBeat.com, Amgen presently has a consensus rating of “Hold” and a consensus price target of $314.09.

Insider Activity

In other Amgen news, EVP Jonathan P. Graham sold 25,045 shares of Amgen stock in a transaction on Friday, February 7th. The shares were sold at an average price of $293.12, for a total value of $7,341,190.40. Following the sale, the executive vice president now directly owns 28,987 shares in the company, valued at approximately $8,496,669.44. The trade was a 46.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of the 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 transaction, the senior vice president now 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 have sold 35,405 shares of company stock worth $10,410,596 over the last ninety days. Insiders own 0.69% of the company’s stock.

Amgen Trading Down 2.0 %

AMGN opened at $291.16 on Friday. The stock has a market capitalization of $156.51 billion, a P/E ratio of 38.56, a P/E/G ratio of 3.01 and a beta of 0.56. The company has a current ratio of 1.26, a quick ratio of 0.96 and a debt-to-equity ratio of 9.62. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The firm’s fifty day simple moving average is $274.12 and its 200 day simple moving average is $301.85.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, topping 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%. As a group, research analysts anticipate that Amgen Inc. will post 20.59 EPS for the current fiscal year.

Amgen Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be issued a $2.38 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.27%. Amgen’s dividend payout ratio (DPR) is 119.21%.

About Amgen

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.