Corient Private Wealth LLC Lowers Holdings in Amgen Inc. (NASDAQ:AMGN)

Corient Private Wealth LLC cut its position in Amgen Inc. (NASDAQ:AMGN) by 0.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 564,100 shares of the medical research company’s stock after selling 2,087 shares during the quarter. Corient Private Wealth LLC’s holdings in Amgen were worth $146,065,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in AMGN. Semus Wealth Partners LLC grew its holdings in shares of Amgen by 2.3% during the 3rd quarter. Semus Wealth Partners LLC now owns 1,531 shares of the medical research company’s stock valued at $493,000 after purchasing an additional 35 shares during the last quarter. Blossom Wealth Management boosted its stake in shares of Amgen by 3.5% during the 4th quarter. Blossom Wealth Management now owns 1,090 shares of the medical research company’s stock valued at $284,000 after purchasing an additional 37 shares in the last quarter. Zullo Investment Group Inc. boosted its stake in shares of Amgen by 2.8% during the 4th quarter. Zullo Investment Group Inc. now owns 1,364 shares of the medical research company’s stock valued at $356,000 after purchasing an additional 37 shares in the last quarter. Brooklyn Investment Group lifted its position in Amgen by 1.1% during the 3rd quarter. Brooklyn Investment Group now owns 3,377 shares of the medical research company’s stock valued at $1,088,000 after acquiring an additional 38 shares during the period. Finally, Prestige Wealth Management Group LLC lifted its position in Amgen by 2.8% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 1,387 shares of the medical research company’s stock valued at $447,000 after acquiring an additional 38 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

NASDAQ:AMGN opened at $313.71 on Friday. The firm’s 50 day moving average is $291.82 and its two-hundred day moving average is $299.33. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week 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 company has a market cap of $168.53 billion, a P/E ratio of 41.55, a P/E/G ratio of 2.63 and a beta of 0.53.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. Analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The business 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. This represents a $9.52 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s dividend payout ratio (DPR) is presently 126.09%.

Analysts Set New Price Targets

AMGN has been the subject of several recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $324.00 target price on shares of Amgen in a report on Friday, January 24th. Piper Sandler Companies restated an “overweight” rating and set a $310.00 target price on shares of Amgen in a research report on Thursday, January 2nd. Citigroup reiterated a “neutral” rating on shares of Amgen in a research report on Wednesday, February 5th. Wells Fargo & Company reissued an “equal weight” rating on shares of Amgen in a report on Wednesday, February 5th. Finally, Leerink Partners decreased their price target on shares of Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. Two investment 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 company. According to MarketBeat, Amgen currently has an average rating of “Hold” and an average price target of $314.04.

Insider Transactions at Amgen

In other Amgen news, EVP David M. Reese sold 25,225 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the sale, the executive vice president now directly owns 36,922 shares of the company’s stock, valued at $11,240,533.68. The trade was a 40.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Murdo Gordon sold 8,771 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $294.79, for a total value of $2,585,603.09. Following the completion of the sale, the executive vice president now directly owns 44,186 shares of the company’s stock, valued at approximately $13,025,590.94. This trade represents a 16.56 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,341 shares of company stock valued at $20,644,335. Corporate insiders own 0.69% of the company’s stock.

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.