Founders Financial Alliance LLC Trims Holdings in Amgen Inc. (NASDAQ:AMGN)

Founders Financial Alliance LLC reduced its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 39.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,535 shares of the medical research company’s stock after selling 1,010 shares during the quarter. Founders Financial Alliance LLC’s holdings in Amgen were worth $400,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in Amgen in the 3rd quarter valued at about $25,000. Legacy Investment Solutions LLC purchased a new position in shares of Amgen during the third quarter worth approximately $29,000. Centricity Wealth Management LLC bought a new stake in shares of Amgen during the fourth quarter valued at approximately $25,000. Synergy Investment Management LLC purchased a new stake in shares of Amgen in the fourth quarter valued at approximately $34,000. Finally, Heck Capital Advisors LLC bought a new position in Amgen in the fourth quarter worth approximately $36,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMGN has been the subject of a number of research analyst reports. Johnson Rice set a $294.00 target price on Amgen in a research report on Wednesday, March 5th. Bank of America lifted their price objective on Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a report on Wednesday, March 5th. Piper Sandler increased their target price on shares of Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Truist Financial cut their target price on shares of Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $324.00 price target on shares of Amgen in a research report on Friday, January 24th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $314.04.

Insider Transactions at Amgen

In other news, EVP David M. Reese sold 8,711 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $293.22, for a total value of $2,554,239.42. Following the sale, the executive vice president now owns 62,147 shares in the company, valued at $18,222,743.34. This represents a 12.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jonathan P. Graham sold 25,045 shares of the business’s 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 transaction, the executive vice president now owns 28,987 shares of the company’s stock, valued at $8,496,669.44. This represents a 46.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,341 shares of company stock worth $20,644,335 over the last three months. 0.69% of the stock is currently owned by insiders.

Amgen Stock Up 0.8 %

AMGN stock opened at $327.36 on Tuesday. The stock has a market capitalization of $175.86 billion, a PE ratio of 43.36, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. 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 50 day moving average of $287.50 and a 200 day moving average of $299.50.

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

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be issued a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date is Friday, May 16th. Amgen’s dividend payout ratio is presently 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.