Amgen Inc. (NASDAQ:AMGN) Shares Sold by Sowell Financial Services LLC

Sowell Financial Services LLC lowered its stake in Amgen Inc. (NASDAQ:AMGN) by 8.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,473 shares of the medical research company’s stock after selling 1,036 shares during the period. Sowell Financial Services LLC’s holdings in Amgen were worth $2,990,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of AMGN. Capital Performance Advisors LLP acquired a new position in Amgen during the third quarter worth $25,000. Centricity Wealth Management LLC acquired a new position in Amgen during the fourth quarter worth $25,000. Legacy Investment Solutions LLC acquired a new position in Amgen during the third quarter worth $29,000. Synergy Investment Management LLC acquired a new stake in Amgen in the fourth quarter valued at $34,000. Finally, Heck Capital Advisors LLC acquired a new stake in Amgen in the fourth quarter valued at $36,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Insider Activity

In other news, 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 value of $483,802.83. Following the completion of the sale, the senior vice president now owns 7,210 shares in the company, valued at approximately $2,195,228.70. This trade represents a 18.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David M. Reese sold 25,225 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $304.44, for a total value of $7,679,499.00. Following the sale, the executive vice president now owns 36,922 shares of the company’s stock, valued at approximately $11,240,533.68. This trade represents a 40.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 69,341 shares of company stock worth $20,644,335. 0.69% of the stock is currently owned by corporate insiders.

Amgen Stock Performance

Amgen stock opened at $324.86 on Monday. The stock’s 50-day moving average is $286.14 and its 200-day moving average is $299.48. The company 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. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 EPS 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%. Equities analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be issued a $2.38 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 2.93%. Amgen’s dividend payout ratio (DPR) is 126.09%.

Wall Street Analyst Weigh In

AMGN has been the topic of several research reports. Jefferies Financial Group reissued a “buy” rating and issued a $380.00 target price on shares of Amgen in a 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. Leerink Partners lowered their target price on Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Piper Sandler Companies reissued an “overweight” rating and issued a $310.00 target price on shares of Amgen in a report on Thursday, January 2nd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $324.00 price objective on shares of Amgen in a research report on Friday, January 24th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $314.95.

Amgen 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.