Woodmont Investment Counsel LLC Has $561,000 Stock Position in Amgen Inc. (NASDAQ:AMGN)

Woodmont Investment Counsel LLC lessened its holdings in Amgen Inc. (NASDAQ:AMGN) by 3.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,153 shares of the medical research company’s stock after selling 75 shares during the quarter. Woodmont Investment Counsel LLC’s holdings in Amgen were worth $561,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Congress Wealth Management LLC DE raised its position in Amgen by 7.5% during the fourth quarter. Congress Wealth Management LLC DE now owns 72,966 shares of the medical research company’s stock worth $19,018,000 after acquiring an additional 5,119 shares in the last quarter. Crowley Wealth Management Inc. acquired a new position in Amgen during the fourth quarter worth approximately $2,611,000. FCA Corp TX increased its position in Amgen by 0.8% during the fourth quarter. FCA Corp TX now owns 18,340 shares of the medical research company’s stock worth $4,780,000 after buying an additional 149 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Amgen by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 52,721,795 shares of the medical research company’s stock valued at $13,741,409,000 after buying an additional 339,522 shares during the last quarter. Finally, Community Bank N.A. lifted its position in shares of Amgen by 2.0% in the fourth quarter. Community Bank N.A. now owns 15,804 shares of the medical research company’s stock valued at $4,119,000 after buying an additional 305 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Performance

NASDAQ AMGN opened at $314.38 on Tuesday. The firm’s 50 day simple moving average is $298.13 and its 200 day simple moving average is $298.50. The firm has a market capitalization of $168.89 billion, a price-to-earnings ratio of 41.64, a P/E/G ratio of 2.63 and a beta of 0.53. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results 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 return on equity of 176.32% and a net margin of 12.24%. As a group, research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently announced 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. The ex-dividend date is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.03%. Amgen’s dividend payout ratio (DPR) is currently 126.09%.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 1,589 shares of the business’s stock in a transaction 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 sale, the senior vice president now owns 7,210 shares in the company, valued at $2,195,228.70. The trade was a 18.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP David M. Reese sold 25,225 shares of the stock in a transaction dated 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 completion of 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. 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.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AMGN. Redburn Partners cut their price target on Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Royal Bank of Canada restated an “outperform” rating and set a $324.00 target price on shares of Amgen in a research note on Friday, January 24th. Citigroup reiterated a “neutral” rating on shares of Amgen in a research note on Wednesday, February 5th. Truist Financial cut their price objective on shares of Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Finally, Wells Fargo & Company restated an “equal weight” rating on shares of Amgen in a report on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $314.04.

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.