FFT Wealth Management LLC Has $365,000 Position in Amgen Inc. (NASDAQ:AMGN)

FFT Wealth Management LLC boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 3.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,402 shares of the medical research company’s stock after purchasing an additional 49 shares during the quarter. FFT Wealth Management LLC’s holdings in Amgen were worth $365,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Todd Asset Management LLC grew its position in shares of Amgen by 1.7% in the fourth quarter. Todd Asset Management LLC now owns 131,453 shares of the medical research company’s stock valued at $34,262,000 after purchasing an additional 2,179 shares during the last quarter. Vaughan David Investments LLC IL grew its holdings in Amgen by 0.3% in the 4th quarter. Vaughan David Investments LLC IL now owns 176,288 shares of the medical research company’s stock valued at $45,948,000 after buying an additional 608 shares during the last quarter. FourThought Financial Partners LLC grew its holdings in Amgen by 0.8% in the 4th quarter. FourThought Financial Partners LLC now owns 31,018 shares of the medical research company’s stock valued at $8,085,000 after buying an additional 239 shares during the last quarter. Exchange Capital Management Inc. increased its position in Amgen by 0.3% in the 4th quarter. Exchange Capital Management Inc. now owns 16,925 shares of the medical research company’s stock worth $4,411,000 after buying an additional 54 shares during the period. Finally, Commonwealth Retirement Investments LLC lifted its holdings in shares of Amgen by 1.0% during the fourth quarter. Commonwealth Retirement Investments LLC now owns 6,860 shares of the medical research company’s stock worth $1,788,000 after buying an additional 68 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on AMGN shares. Truist Financial lowered their price objective on shares of Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. William Blair restated an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. Citigroup reaffirmed a “neutral” rating on shares of Amgen in a research report on Wednesday, February 5th. Royal Bank of Canada reissued an “outperform” rating and set a $324.00 target price on shares of Amgen in a research report on Friday, January 24th. Finally, Wolfe Research started coverage on Amgen in a report on Friday, November 15th. They issued a “peer perform” rating for the company. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $314.09.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 1,589 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total value of $483,802.83. Following the completion of the transaction, the senior vice president now owns 7,210 shares in the company, valued at $2,195,228.70. The trade was a 18.06 % decrease in their position. The transaction was disclosed in a document filed 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 value of $7,341,190.40. Following the completion of the transaction, the executive vice president now owns 28,987 shares in the company, valued at $8,496,669.44. The trade was a 46.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,341 shares of company stock worth $20,644,335 in the last 90 days. Corporate insiders own 0.69% of the company’s stock.

Amgen Price Performance

Shares of Amgen stock opened at $315.63 on Wednesday. The stock has a market capitalization of $169.56 billion, a price-to-earnings ratio of 41.81, a P/E/G ratio of 2.63 and a beta of 0.56. The firm’s 50-day moving average price is $278.13 and its two-hundred day moving average price is $300.16. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results 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%. On average, equities analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be issued a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.02%. This is a boost from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s payout ratio is currently 126.09%.

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.