WealthPlan Investment Management LLC Decreases Stock Position in Amgen Inc. (NASDAQ:AMGN)

WealthPlan Investment Management LLC reduced its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 13.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,658 shares of the medical research company’s stock after selling 5,297 shares during the quarter. WealthPlan Investment Management LLC’s holdings in Amgen were worth $8,773,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Lansing Street Advisors grew its holdings in Amgen by 1.3% during 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 stake in shares of Amgen by 3.8% in the third quarter. Unionview LLC now owns 876 shares of the medical research company’s stock valued at $282,000 after purchasing an additional 32 shares in the last quarter. AM Investment Strategies LLC grew its position in Amgen by 0.4% in the third 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. Avidian Wealth Enterprises LLC grew its holdings in shares of Amgen by 0.6% during the third quarter. Avidian Wealth Enterprises LLC now owns 5,863 shares of the medical research company’s stock worth $1,889,000 after purchasing an additional 33 shares during the last quarter. Finally, Beacon Financial Advisory LLC lifted its stake in shares of Amgen by 4.6% during the third quarter. Beacon Financial Advisory LLC now owns 769 shares of the medical research company’s stock valued at $248,000 after acquiring an additional 34 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Piper Sandler Companies reaffirmed an “overweight” rating and set a $310.00 price target on shares of Amgen in a research report on Thursday, January 2nd. Leerink Partners reduced their price objective on Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Wolfe Research assumed coverage on Amgen in a research report on Friday, November 15th. They set a “peer perform” rating for the company. Bank of America lifted their price objective on shares of Amgen from $256.00 to $275.00 and gave the company an “underperform” rating in a report on Thursday, February 6th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $324.00 price target on shares of Amgen in a report on Friday, January 24th. Two equities research analysts have rated the stock with a sell rating, ten have issued 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 currently has an average rating of “Hold” and a consensus target price of $314.09.

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,589 shares of the stock in a transaction that occurred 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 in the company, valued at $2,195,228.70. This represents a 18.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jonathan P. Graham sold 25,045 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now owns 28,987 shares in the company, valued at approximately $8,496,669.44. This trade represents a 46.35 % 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. 0.69% of the stock is currently owned by insiders.

Amgen Stock Down 2.0 %

Shares of NASDAQ AMGN opened at $291.16 on Friday. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The stock has a market cap of $156.51 billion, a PE ratio of 38.56, a P/E/G ratio of 3.01 and a beta of 0.56. The company has a current ratio of 1.26, a quick ratio of 0.96 and a debt-to-equity ratio of 9.62. The company has a 50-day moving average of $273.75 and a 200 day moving average of $302.14.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, beating 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 predict that Amgen Inc. will post 20.59 EPS for the current fiscal year.

Amgen Increases Dividend

The business 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 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 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.