Tower Wealth Partners Inc. Has $369,000 Position in Amgen Inc. (NASDAQ:AMGN)

Tower Wealth Partners Inc. raised its stake in Amgen Inc. (NASDAQ:AMGN) by 4.7% in the 4th quarter, HoldingsChannel reports. The firm owned 1,416 shares of the medical research company’s stock after acquiring an additional 63 shares during the quarter. Tower Wealth Partners Inc.’s holdings in Amgen were worth $369,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Swedbank AB lifted its holdings in shares of Amgen by 1.1% in the 3rd quarter. Swedbank AB now owns 538,899 shares of the medical research company’s stock worth $173,639,000 after purchasing an additional 5,751 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in Amgen during the third quarter worth $25,000. CWA Asset Management Group LLC bought a new position in shares of Amgen in the third quarter valued at $1,719,000. Rovin Capital UT ADV acquired a new position in shares of Amgen during the third quarter valued at about $210,000. Finally, Essex Savings Bank increased its position in shares of Amgen by 3.9% during the third quarter. Essex Savings Bank now owns 4,219 shares of the medical research company’s stock worth $1,359,000 after acquiring an additional 160 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,589 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total transaction of $483,802.83. Following the sale, the senior vice president now owns 7,210 shares of the company’s stock, valued at $2,195,228.70. The trade was a 18.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 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. The trade was a 46.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,341 shares of company stock valued at $20,644,335. Company insiders own 0.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AMGN. StockNews.com cut shares of Amgen from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Truist Financial dropped their target price on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Redburn Partners decreased their price target on Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Bank of America increased their price target on Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a research report on Wednesday, March 5th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 price objective on shares of Amgen in a report on Tuesday, November 12th. Two equities research 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 stock. According to MarketBeat.com, Amgen presently has a consensus rating of “Hold” and a consensus price target of $314.95.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $324.86 on Monday. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The stock has a fifty day simple moving average of $286.14 and a two-hundred day simple moving average of $299.48. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The firm has a market cap of $174.52 billion, a price-to-earnings ratio of 43.03, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results 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%. Analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be paid a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s payout ratio is currently 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.