Balboa Wealth Partners Has $247,000 Stake in Amgen Inc. (NASDAQ:AMGN)

Balboa Wealth Partners reduced its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 47.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 949 shares of the medical research company’s stock after selling 848 shares during the quarter. Balboa Wealth Partners’ holdings in Amgen were worth $247,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Swedbank AB lifted its holdings in Amgen by 1.1% during the 3rd quarter. Swedbank AB now owns 538,899 shares of the medical research company’s stock valued at $173,639,000 after purchasing an additional 5,751 shares during the last quarter. Harbour Investments Inc. increased its holdings in shares of Amgen by 9.5% during the third quarter. Harbour Investments Inc. now owns 5,588 shares of the medical research company’s stock worth $1,801,000 after buying an additional 483 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Amgen in the third quarter valued at approximately $876,000. MQS Management LLC acquired a new position in shares of Amgen in the 3rd quarter worth approximately $219,000. Finally, Plato Investment Management Ltd grew its position in Amgen by 4.1% during the 3rd quarter. Plato Investment Management Ltd now owns 18,708 shares of the medical research company’s stock worth $6,022,000 after acquiring an additional 735 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on AMGN. StockNews.com downgraded Amgen from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Redburn Partners cut their price target on Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Johnson Rice set a $294.00 price objective on shares of Amgen in a report on Wednesday, March 5th. Citigroup reaffirmed a “neutral” rating on shares of Amgen in a research note on Wednesday, February 5th. Finally, Piper Sandler Companies reissued an “overweight” rating and set a $310.00 price target on shares of Amgen in a research note on Thursday, January 2nd. 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $314.04.

Amgen Trading Up 0.0 %

AMGN opened at $312.64 on Friday. The firm’s fifty day moving average is $290.77 and its two-hundred day moving average is $299.61. The firm has a market cap of $167.95 billion, a PE ratio of 41.41, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 EPS 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%. Equities research analysts anticipate 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. Stockholders of record on Friday, May 16th will be issued a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s dividend payout ratio (DPR) is presently 126.09%.

Insider Activity at Amgen

In other Amgen news, EVP David M. Reese sold 8,711 shares of Amgen stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $293.22, for a total value of $2,554,239.42. Following the sale, the executive vice president now owns 62,147 shares of the company’s stock, valued at $18,222,743.34. This trade represents a 12.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Jonathan P. Graham sold 25,045 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 28,987 shares of the company’s stock, valued at $8,496,669.44. This represents a 46.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 69,341 shares of company stock worth $20,644,335. 0.69% of the stock is owned by company insiders.

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.