Core Wealth Partners LLC Has $357,000 Stock Position in Amgen Inc. (NASDAQ:AMGN)

Core Wealth Partners LLC cut its holdings in Amgen Inc. (NASDAQ:AMGN) by 8.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,369 shares of the medical research company’s stock after selling 132 shares during the period. Core Wealth Partners LLC’s holdings in Amgen were worth $357,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Blossom Wealth Management increased its holdings in shares of Amgen by 3.5% during the fourth quarter. Blossom Wealth Management now owns 1,090 shares of the medical research company’s stock worth $284,000 after purchasing an additional 37 shares during the period. Zullo Investment Group Inc. increased its stake in Amgen by 2.8% during the 4th quarter. Zullo Investment Group Inc. now owns 1,364 shares of the medical research company’s stock worth $356,000 after acquiring an additional 37 shares during the period. Trillium Asset Management LLC raised its holdings in Amgen by 4.2% in the 4th quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company’s stock valued at $237,000 after acquiring an additional 37 shares in the last quarter. Brooklyn Investment Group lifted its position in shares of Amgen by 1.1% during the 3rd quarter. Brooklyn Investment Group now owns 3,377 shares of the medical research company’s stock valued at $1,088,000 after acquiring an additional 38 shares during the period. Finally, Prestige Wealth Management Group LLC grew its holdings in shares of Amgen by 2.8% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 1,387 shares of the medical research company’s stock worth $447,000 after purchasing an additional 38 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Insider Buying and Selling at Amgen

In other news, EVP Murdo Gordon sold 8,771 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $294.79, for a total value of $2,585,603.09. Following the completion of the sale, the executive vice president now owns 44,186 shares in the company, valued at $13,025,590.94. This represents a 16.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP David M. Reese sold 25,225 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $304.44, for a total transaction 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. This trade represents a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,341 shares of company stock worth $20,644,335. Insiders own 0.69% of the company’s stock.

Wall Street Analysts Forecast Growth

AMGN has been the subject of several recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $324.00 price objective on shares of Amgen in a research report on Friday, January 24th. Piper Sandler Companies reissued an “overweight” rating and issued a $310.00 price objective on shares of Amgen in a research note on Thursday, January 2nd. Leerink Partners cut their target price on Amgen from $349.00 to $302.00 in a research note 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. Finally, Citigroup reaffirmed a “neutral” rating on shares of Amgen in a research note on Wednesday, February 5th. 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’s stock. According to MarketBeat, Amgen presently has a consensus rating of “Hold” and a consensus price target of $314.04.

Amgen Stock Performance

AMGN stock opened at $306.86 on Wednesday. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The stock has a 50-day moving average price of $298.92 and a 200-day moving average price of $298.41. The firm has a market cap of $164.85 billion, a PE ratio of 40.64, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53.

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

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be given a $2.38 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 annualized dividend and a yield of 3.10%. Amgen’s payout ratio is 126.09%.

Amgen Company 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.