Paragon Private Wealth Management LLC Acquires 106 Shares of Amgen Inc. (NASDAQ:AMGN)

Paragon Private Wealth Management LLC raised its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 4.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,584 shares of the medical research company’s stock after acquiring an additional 106 shares during the quarter. Paragon Private Wealth Management LLC’s holdings in Amgen were worth $673,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Meriwether Wealth & Planning LLC bought a new stake in Amgen during the 4th quarter valued at $417,000. Tower Wealth Partners Inc. raised its holdings in Amgen by 4.7% during the 4th quarter. Tower Wealth Partners Inc. now owns 1,416 shares of the medical research company’s stock valued at $369,000 after acquiring an additional 63 shares during the period. Daiwa Securities Group Inc. increased its holdings in shares of Amgen by 14.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 208,167 shares of the medical research company’s stock worth $54,257,000 after purchasing an additional 25,692 shares during the period. Sound View Wealth Advisors Group LLC increased its holdings in shares of Amgen by 4.1% in the fourth quarter. Sound View Wealth Advisors Group LLC now owns 29,523 shares of the medical research company’s stock worth $7,695,000 after purchasing an additional 1,159 shares during the period. Finally, AlphaQuest LLC increased its holdings in shares of Amgen by 3.9% in the fourth quarter. AlphaQuest LLC now owns 1,993 shares of the medical research company’s stock worth $519,000 after purchasing an additional 74 shares during the period. Institutional investors own 76.50% of the company’s stock.

Insider Transactions at Amgen

In related news, EVP David M. Reese sold 25,225 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $304.44, for a total value of $7,679,499.00. Following the completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jonathan P. Graham sold 25,045 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $293.12, for a total transaction of $7,341,190.40. Following the completion of the transaction, the executive vice president now directly owns 28,987 shares of the company’s stock, valued at approximately $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. Over the last ninety days, insiders sold 69,341 shares of company stock worth $20,644,335. Company insiders own 0.69% of the company’s stock.

Wall Street Analysts Forecast Growth

AMGN has been the topic of several research analyst reports. Redburn Partners decreased their price target on shares of Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Citigroup reaffirmed a “neutral” rating on shares of Amgen in a report on Wednesday, February 5th. Leerink Partners decreased their price target on shares of Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. UBS Group reaffirmed a “hold” rating on shares of Amgen in a report on Wednesday, February 12th. Finally, StockNews.com cut shares of Amgen from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $314.95.

Amgen Stock Performance

Amgen stock opened at $324.86 on Monday. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The firm has a 50-day moving average of $286.14 and a 200-day moving average of $299.48. The firm has a market cap of $174.52 billion, a P/E ratio of 43.03, a P/E/G ratio of 2.63 and a beta of 0.53. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, topping 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%. Sell-side analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The company also recently announced 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. The ex-dividend date is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 2.93%. Amgen’s dividend 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.