Institute for Wealth Management LLC. Sells 131 Shares of Amgen Inc. (NASDAQ:AMGN)

Institute for Wealth Management LLC. trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 1.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,594 shares of the medical research company’s stock after selling 131 shares during the period. Institute for Wealth Management LLC.’s holdings in Amgen were worth $3,627,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AMGN. Briaud Financial Planning Inc bought a new position in shares of Amgen in the 3rd quarter worth $26,000. BOK Financial Private Wealth Inc. bought a new position in shares of Amgen in the 4th quarter worth $29,000. OFI Invest Asset Management bought a new position in shares of Amgen in the 3rd quarter worth $26,000. Planned Solutions Inc. bought a new position in Amgen during the fourth quarter worth about $30,000. Finally, Providence Capital Advisors LLC bought a new position in Amgen during the third quarter worth about $30,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Performance

Shares of Amgen stock traded up $5.96 on Friday, hitting $268.71. The stock had a trading volume of 1,715,805 shares, compared to its average volume of 2,834,902. Amgen Inc. has a twelve month low of $211.71 and a twelve month high of $329.72. The business’s 50 day moving average is $277.34 and its two-hundred day 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 cap of $144.01 billion, a price-to-earnings ratio of 21.22, a price-to-earnings-growth ratio of 2.46 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.66 by $0.05. The business had revenue of $8.20 billion during the quarter, compared to analysts’ expectations of $8.13 billion. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The firm’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same period in the previous year, the company posted $4.09 earnings per share. Analysts forecast that Amgen Inc. will post 19.45 EPS for the current year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s payout ratio is presently 72.06%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AMGN. Morgan Stanley reduced their target price on Amgen from $281.00 to $278.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 7th. Oppenheimer restated an “outperform” rating and issued a $350.00 price target on shares of Amgen in a report on Thursday, February 1st. TD Cowen cut their price target on Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a report on Wednesday. Truist Financial restated a “buy” rating and issued a $320.00 price target on shares of Amgen in a report on Friday, April 12th. Finally, Daiwa Capital Markets upgraded Amgen from a “neutral” rating to a “buy” rating and boosted their price target for the company from $264.00 to $320.00 in a report on Thursday, December 21st. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Amgen has a consensus rating of “Moderate Buy” and a consensus target price of $296.95.

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.