Wealth Alliance Has $2.67 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Wealth Alliance cut its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 1.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,249 shares of the medical research company’s stock after selling 176 shares during the period. Wealth Alliance’s holdings in Amgen were worth $2,671,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. 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 worth $832,000 after purchasing an additional 32 shares in the last quarter. Unionview LLC grew its position in Amgen by 3.8% in the 3rd quarter. Unionview LLC now owns 876 shares of the medical research company’s stock worth $282,000 after purchasing an additional 32 shares in the last quarter. AM Investment Strategies LLC grew its position in Amgen by 0.4% in the 3rd quarter. AM Investment Strategies LLC now owns 7,471 shares of the medical research company’s stock worth $2,407,000 after purchasing an additional 33 shares in the last quarter. Avidian Wealth Enterprises LLC grew its position in Amgen by 0.6% in the 3rd 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 boosted its stake 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 acquiring an additional 34 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,589 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total transaction of $483,802.83. Following the completion of the sale, the senior vice president now owns 7,210 shares of the company’s stock, valued at $2,195,228.70. This represents a 18.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jonathan P. Graham sold 25,045 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $293.12, for a total transaction of $7,341,190.40. Following the sale, the executive vice president now directly owns 28,987 shares of the company’s stock, valued at $8,496,669.44. The trade was a 46.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,405 shares of company stock valued at $10,410,596. Insiders own 0.69% of the company’s stock.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $294.27 on Thursday. The company’s fifty day moving average price is $275.15 and its 200-day moving average price is $300.77. The firm has a market capitalization of $158.18 billion, a price-to-earnings ratio of 38.98, a PEG ratio of 2.53 and a beta of 0.56. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. 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 (NASDAQ:AMGN) last released its earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS 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%. On average, equities research analysts anticipate that Amgen Inc. will post 20.6 earnings per share for the current fiscal year.

Amgen Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be issued a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 annualized dividend and a dividend yield of 3.24%. This is a positive change from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio (DPR) is currently 126.09%.

Analyst Ratings Changes

A number of research analysts have weighed in on AMGN shares. Piper Sandler boosted their target price on shares of Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. William Blair reiterated an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 target price on shares of Amgen in a research note on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Finally, Leerink Partners dropped 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 issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Amgen presently has an average rating of “Hold” and a consensus target price of $314.09.

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.