Allworth Financial LP Boosts Stock Position in Amgen Inc. (NASDAQ:AMGN)

Allworth Financial LP boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 40.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,035 shares of the medical research company’s stock after acquiring an additional 10,002 shares during the quarter. Allworth Financial LP’s holdings in Amgen were worth $9,580,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Lansing Street Advisors grew its position in Amgen by 1.3% in the 3rd quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock valued at $832,000 after buying an additional 32 shares during the last quarter. Unionview LLC boosted its holdings in shares of Amgen by 3.8% in the third quarter. Unionview LLC now owns 876 shares of the medical research company’s stock valued at $282,000 after acquiring an additional 32 shares in the last quarter. AM Investment Strategies LLC increased its stake in shares of Amgen by 0.4% during the third quarter. AM Investment Strategies LLC now owns 7,471 shares of the medical research company’s stock worth $2,407,000 after acquiring an additional 33 shares during the period. Avidian Wealth Enterprises LLC raised its holdings in Amgen by 0.6% during the third quarter. Avidian Wealth Enterprises LLC now owns 5,863 shares of the medical research company’s stock worth $1,889,000 after purchasing an additional 33 shares in the last quarter. Finally, Beacon Financial Advisory LLC lifted its position in Amgen by 4.6% in the third quarter. Beacon Financial Advisory LLC now owns 769 shares of the medical research company’s stock valued at $248,000 after purchasing an additional 34 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Amgen news, EVP Murdo Gordon sold 8,771 shares of the company’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $294.79, for a total transaction of $2,585,603.09. Following the completion of the sale, the executive vice president now directly owns 44,186 shares in the company, valued at $13,025,590.94. This represents a 16.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Nancy A. Grygiel sold 1,589 shares of Amgen stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total value of $483,802.83. Following the completion of the transaction, the senior vice president now directly owns 7,210 shares in the company, valued at $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 a total of 35,405 shares of company stock valued at $10,410,596 in the last 90 days. 0.69% of the stock is currently owned by insiders.

Amgen Stock Performance

NASDAQ:AMGN opened at $291.16 on Monday. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The firm has a 50 day simple moving average of $274.12 and a 200-day simple moving average of $301.63. The firm has a market cap of $156.51 billion, a PE ratio of 38.56, a P/E/G ratio of 3.01 and a beta of 0.56. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.96.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results 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%. On average, equities analysts expect that Amgen Inc. will post 20.59 EPS for the current year.

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be issued a $2.38 dividend. This is a boost from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. This represents a $9.52 annualized dividend and a yield of 3.27%. Amgen’s payout ratio is 119.21%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Redburn Partners cut their target price on Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Wells Fargo & Company reduced their target price on Amgen from $335.00 to $280.00 and set an “equal weight” rating for the company in a report on Friday, January 10th. TD Cowen upped their price target on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $405.00 price objective on shares of Amgen in a research note on Tuesday, October 22nd. Finally, Piper Sandler upped their target price on shares of Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Amgen currently has a consensus rating of “Hold” and an average 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.