Aveo Capital Partners LLC Has $548,000 Stake in Amgen Inc. (NASDAQ:AMGN)

Aveo Capital Partners LLC decreased its position in Amgen Inc. (NASDAQ:AMGN) by 2.0% in the fourth quarter, HoldingsChannel reports. The firm owned 2,102 shares of the medical research company’s stock after selling 42 shares during the period. Aveo Capital Partners LLC’s holdings in Amgen were worth $548,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CapWealth Advisors LLC boosted its stake in Amgen by 1.4% in the 4th quarter. CapWealth Advisors LLC now owns 29,837 shares of the medical research company’s stock worth $7,777,000 after purchasing an additional 409 shares during the period. BXM Wealth LLC acquired a new stake in shares of Amgen during the 4th quarter valued at $314,000. Nations Financial Group Inc. IA ADV boosted its stake in shares of Amgen by 1.3% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 18,521 shares of the medical research company’s stock valued at $4,828,000 after buying an additional 241 shares during the period. ABC Arbitrage SA acquired a new stake in shares of Amgen during the 4th quarter valued at $1,510,000. Finally, DeDora Capital Inc. boosted its stake in shares of Amgen by 3.0% during the 4th quarter. DeDora Capital Inc. now owns 5,601 shares of the medical research company’s stock valued at $1,460,000 after buying an additional 165 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AMGN shares. Cantor Fitzgerald reissued an “overweight” rating and set a $405.00 target price on shares of Amgen in a research note on Tuesday, October 22nd. Truist Financial decreased their target price on shares of Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Piper Sandler lifted 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. Piper Sandler Companies restated an “overweight” rating and set a $310.00 price target on shares of Amgen in a report on Thursday, January 2nd. Finally, TD Cowen raised their price target on shares of Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a report on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $314.09.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 1,589 shares of Amgen stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total transaction of $483,802.83. Following the sale, the senior vice president now directly owns 7,210 shares in the company, valued at approximately $2,195,228.70. The trade was a 18.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Murdo Gordon sold 8,771 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $294.79, for a total transaction of $2,585,603.09. Following the completion of the transaction, the executive vice president now owns 44,186 shares in the company, valued at approximately $13,025,590.94. This trade represents a 16.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,405 shares of company stock worth $10,410,596. Corporate insiders own 0.69% of the company’s stock.

Amgen Stock Performance

NASDAQ:AMGN opened at $291.16 on Friday. The firm’s 50-day moving average is $274.12 and its 200-day moving average is $301.85. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.96 and a current ratio of 1.26. The company has a market cap of $156.51 billion, a price-to-earnings ratio of 38.56, a PEG ratio of 3.01 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts anticipate that Amgen Inc. will post 20.59 earnings per share for the current year.

Amgen Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be given a dividend of $2.38 per share. This is a positive change from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a dividend yield of 3.27%. The ex-dividend date is Friday, February 14th. Amgen’s payout ratio is 119.21%.

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.