Amgen Inc. (NASDAQ:AMGN) Stock Holdings Lowered by Spire Wealth Management

Spire Wealth Management lessened its stake in Amgen Inc. (NASDAQ:AMGN) by 4.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,252 shares of the medical research company’s stock after selling 253 shares during the period. Spire Wealth Management’s holdings in Amgen were worth $1,369,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Cadinha & Co. LLC grew its holdings in Amgen by 0.6% in the 3rd quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock valued at $1,678,000 after buying an additional 32 shares in the last quarter. Lansing Street Advisors lifted its position in shares of Amgen by 1.3% during the 3rd quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock valued at $832,000 after acquiring an additional 32 shares during the period. Unionview LLC lifted 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 acquiring an additional 32 shares during the period. Traveka Wealth LLC lifted its position in shares of Amgen by 4.3% during the 3rd quarter. Traveka Wealth LLC now owns 807 shares of the medical research company’s stock valued at $260,000 after acquiring an additional 33 shares during the period. Finally, AM Investment Strategies LLC lifted 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 acquiring an additional 33 shares during the period. Institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Wells Fargo & Company cut their target price on Amgen from $335.00 to $280.00 and set an “equal weight” rating for the company in a research report on Friday, January 10th. Leerink Partners dropped their target price on Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft decreased their price target on Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Wolfe Research began coverage on Amgen in a research note on Friday, November 15th. They set a “peer perform” rating for the company. Finally, UBS Group reduced their price objective on Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $314.00.

Amgen Price Performance

Shares of Amgen stock opened at $288.87 on Tuesday. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The firm has a market capitalization of $155.28 billion, a PE ratio of 36.99, a price-to-earnings-growth ratio of 2.87 and a beta of 0.56. The business’s 50-day moving average price is $271.06 and its 200-day moving average price is $304.11. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85.

Amgen Increases Dividend

The company also recently disclosed 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. The ex-dividend date is Friday, February 14th. 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 3.30%. Amgen’s dividend payout ratio is 115.24%.

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.