Western Wealth Management LLC Sells 47 Shares of Amgen Inc. (NASDAQ:AMGN)

Western Wealth Management LLC lessened its position in shares of Amgen Inc. (NASDAQ:AMGN) by 0.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 9,153 shares of the medical research company’s stock after selling 47 shares during the period. Western Wealth Management LLC’s holdings in Amgen were worth $2,636,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Amgen by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 49,035,981 shares of the medical research company’s stock worth $13,178,910,000 after purchasing an additional 165,636 shares in the last quarter. Morgan Stanley increased its position in Amgen by 12.9% during the 4th quarter. Morgan Stanley now owns 13,301,365 shares of the medical research company’s stock worth $3,493,471,000 after purchasing an additional 1,523,665 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Amgen by 1.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 8,819,690 shares of the medical research company’s stock valued at $2,132,778,000 after acquiring an additional 94,565 shares during the period. Moneta Group Investment Advisors LLC increased its position in Amgen by 83,875.6% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,541,011 shares of the medical research company’s stock valued at $1,980,571,000 after acquiring an additional 7,532,031 shares during the period. Finally, Northern Trust Corp increased its position in Amgen by 3.8% in the 3rd quarter. Northern Trust Corp now owns 6,977,625 shares of the medical research company’s stock valued at $1,875,306,000 after acquiring an additional 255,463 shares during the period. Institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on AMGN shares. TD Cowen decreased their price target on shares of Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a research report on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and set a $329.00 price objective on shares of Amgen in a research report on Wednesday, April 3rd. Leerink Partnrs cut shares of Amgen from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 7th. Truist Financial reiterated a “buy” rating and set a $320.00 price objective on shares of Amgen in a research report on Friday, April 12th. Finally, The Goldman Sachs Group increased their price objective on shares of Amgen from $313.00 to $350.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $296.95.

Amgen Stock Performance

NASDAQ AMGN traded up $2.69 during trading hours on Friday, reaching $265.44. 448,628 shares of the company were exchanged, compared to its average volume of 2,819,633. Amgen Inc. has a 1 year low of $211.71 and a 1 year high of $329.72. The business’s 50 day simple moving average is $277.34 and its 200-day simple moving average is $281.24. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 10.14. The stock has a market capitalization of $142.25 billion, a P/E ratio of 21.22, a P/E/G ratio of 2.46 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.66 by $0.05. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The company had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.13 billion. During the same period last year, the business earned $4.09 earnings per share. Amgen’s revenue was up 19.8% compared to the same quarter last year. On average, equities research analysts expect that Amgen Inc. will post 19.45 earnings per share for the current year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be given a dividend of $2.25 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $9.00 annualized dividend and a yield of 3.39%. Amgen’s payout ratio is presently 72.06%.

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.