Amgen Inc. (NASDAQ:AMGN) Shares Sold by Processus Wealth & Capital Management LLC

Processus Wealth & Capital Management LLC lessened its position in shares of Amgen Inc. (NASDAQ:AMGN) by 7.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,227 shares of the medical research company’s stock after selling 696 shares during the quarter. Amgen comprises 1.7% of Processus Wealth & Capital Management LLC’s investment portfolio, making the stock its 23rd biggest holding. Processus Wealth & Capital Management LLC’s holdings in Amgen were worth $2,144,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Lansing Street Advisors increased its stake in Amgen by 1.3% in the 3rd quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock valued at $832,000 after buying an additional 32 shares during the period. Unionview LLC raised its holdings in Amgen by 3.8% in the 3rd quarter. Unionview LLC now owns 876 shares of the medical research company’s stock worth $282,000 after acquiring an additional 32 shares during the period. AM Investment Strategies LLC raised its holdings in Amgen by 0.4% in the 3rd quarter. AM Investment Strategies LLC now owns 7,471 shares of the medical research company’s stock worth $2,407,000 after acquiring an additional 33 shares during the period. Avidian Wealth Enterprises LLC grew its position in Amgen by 0.6% in the 3rd 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 boosted 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 acquiring an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

NASDAQ:AMGN opened at $309.72 on Tuesday. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The firm has a market cap of $166.38 billion, a price-to-earnings ratio of 41.02, a P/E/G ratio of 2.63 and a beta of 0.56. The firm’s 50-day simple moving average is $277.14 and its 200 day simple moving average is $300.20. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, topping analysts’ consensus estimates 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 20.62 earnings per share for the current year.

Amgen Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be paid a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 3.07%. This is an increase from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s dividend payout ratio is presently 126.09%.

Insider Activity

In other news, EVP David M. Reese sold 25,225 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $304.44, for a total value of $7,679,499.00. Following the transaction, the executive vice president now owns 36,922 shares in the company, valued at approximately $11,240,533.68. The trade was a 40.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total transaction of $483,802.83. Following the completion of the transaction, the senior vice president now owns 7,210 shares in the company, valued at $2,195,228.70. This trade represents a 18.06 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,341 shares of company stock worth $20,644,335. Corporate insiders own 0.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. UBS Group restated a “hold” rating on shares of Amgen in a research report on Wednesday, February 12th. Leerink Partners dropped their price target on shares of Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. Truist Financial decreased their price objective on shares of Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Citigroup reiterated a “neutral” rating on shares of Amgen in a report on Wednesday, February 5th. Finally, Jefferies Financial Group restated a “buy” rating and set a $380.00 target price on shares of Amgen in a report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Amgen has an average rating of “Hold” and an average target price of $314.09.

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.