Amgen Inc. (NASDAQ:AMGN) Stock Position Lowered by Modera Wealth Management LLC

Modera Wealth Management LLC lessened its position in Amgen Inc. (NASDAQ:AMGN) by 1.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 111,709 shares of the medical research company’s stock after selling 1,499 shares during the period. Modera Wealth Management LLC’s holdings in Amgen were worth $29,116,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of AMGN. Lansing Street Advisors raised its position in Amgen by 1.3% in the third quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock worth $832,000 after acquiring an additional 32 shares during the period. Unionview LLC raised its position in shares of Amgen by 3.8% during the 3rd quarter. Unionview LLC now owns 876 shares of the medical research company’s stock valued at $282,000 after purchasing an additional 32 shares during the period. AM Investment Strategies LLC raised its position in shares of Amgen by 0.4% during the 3rd quarter. AM Investment Strategies LLC now owns 7,471 shares of the medical research company’s stock valued at $2,407,000 after purchasing an additional 33 shares during the period. Avidian Wealth Enterprises LLC raised its position in shares of Amgen by 0.6% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 5,863 shares of the medical research company’s stock valued at $1,889,000 after purchasing an additional 33 shares during the period. Finally, Beacon Financial Advisory LLC raised its position in shares of Amgen by 4.6% during the 3rd quarter. Beacon Financial Advisory LLC now owns 769 shares of the medical research company’s stock valued at $248,000 after purchasing an additional 34 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMGN has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Truist Financial reduced their price target on shares of Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 price target on shares of Amgen in a report on Tuesday, November 12th. Piper Sandler Companies reiterated an “overweight” rating and issued a $310.00 price target on shares of Amgen in a report on Thursday, January 2nd. Finally, Citigroup reiterated a “neutral” rating on shares of Amgen in a report on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $314.09.

Amgen Trading Up 0.7 %

NASDAQ AMGN opened at $308.06 on Friday. 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 firm has a market cap of $165.49 billion, a PE ratio of 40.80, a price-to-earnings-growth ratio of 2.63 and a beta of 0.56. The company has a 50 day moving average price of $280.87 and a 200 day moving average price of $299.99. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share 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%. As a group, sell-side analysts forecast that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be issued a $2.38 dividend. This is an increase from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s dividend payout ratio is 126.09%.

Insider Activity

In related 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 sale, the senior vice president now directly owns 7,210 shares of the company’s stock, valued at approximately $2,195,228.70. This represents a 18.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP David M. Reese sold 25,225 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the transaction, the executive vice president now 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 disclosure for this sale can be found here. Insiders have sold 69,341 shares of company stock valued at $20,644,335 in the last ninety days. 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.