Amgen Inc. (NASDAQ:AMGN) Stock Position Reduced by Evoke Wealth LLC

Evoke Wealth LLC lessened its stake in Amgen Inc. (NASDAQ:AMGN) by 2.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,913 shares of the medical research company’s stock after selling 233 shares during the quarter. Evoke Wealth LLC’s holdings in Amgen were worth $2,062,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of AMGN. Legacy Investment Solutions LLC purchased a new position in Amgen in the third quarter valued at about $29,000. Centricity Wealth Management LLC purchased a new stake in shares of Amgen during the 4th quarter worth about $25,000. Synergy Investment Management LLC purchased a new stake in shares of Amgen during the 4th quarter worth about $34,000. Atala Financial Inc bought a new stake in shares of Amgen in the 4th quarter valued at approximately $34,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of Amgen in the 4th quarter valued at approximately $36,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AMGN. Citigroup reaffirmed a “neutral” rating on shares of Amgen in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Johnson Rice set a $294.00 price objective on shares of Amgen in a research report on Wednesday, March 5th. Leerink Partners cut their price objective on shares of Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Amgen in a research report on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $314.04.

Insider Buying and Selling at Amgen

In other Amgen news, EVP Jonathan P. Graham sold 25,045 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 28,987 shares of the company’s stock, valued at approximately $8,496,669.44. This represents a 46.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David M. Reese sold 25,225 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $11,240,533.68. This represents a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,341 shares of company stock valued at $20,644,335. 0.69% of the stock is currently owned by insiders.

Amgen Price Performance

Shares of AMGN stock opened at $317.17 on Tuesday. The firm has a market cap of $170.39 billion, a price-to-earnings ratio of 42.01, a PEG ratio of 2.63 and a beta of 0.53. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The stock has a 50-day moving average price of $292.99 and a 200 day moving average price of $299.02.

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

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be paid a $2.38 dividend. The ex-dividend date is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a yield of 3.00%. Amgen’s payout ratio is presently 126.09%.

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.