Amgen Inc. (NASDAQ:AMGN) Shares Sold by Quantum Private Wealth LLC

by · The Markets Daily

Quantum Private Wealth LLC lessened its position in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) by 9.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,683 shares of the medical research company’s stock after selling 180 shares during the quarter. Quantum Private Wealth LLC’s holdings in Amgen were worth $452,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in AMGN. Roundview Capital LLC grew its stake in Amgen by 1.3% during the 1st quarter. Roundview Capital LLC now owns 8,383 shares of the medical research company’s stock valued at $2,027,000 after purchasing an additional 107 shares during the last quarter. Merit Financial Group LLC boosted its stake in shares of Amgen by 39.2% in the first quarter. Merit Financial Group LLC now owns 2,297 shares of the medical research company’s stock worth $555,000 after buying an additional 647 shares during the last quarter. Ergoteles LLC purchased a new stake in shares of Amgen in the first quarter worth about $219,000. First Western Trust Bank purchased a new stake in shares of Amgen in the first quarter worth about $334,000. Finally, Fuller & Thaler Asset Management Inc. boosted its stake in shares of Amgen by 2.1% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 24,688 shares of the medical research company’s stock worth $5,970,000 after buying an additional 513 shares during the last quarter. Hedge funds and other institutional investors own 74.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. UBS Group lowered their target price on Amgen from $272.00 to $268.00 and set a “neutral” rating on the stock in a research note on Thursday, November 2nd. SVB Leerink upgraded Amgen from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $267.00 to $318.00 in a research note on Wednesday, October 11th. Truist Financial restated a “buy” rating and issued a $320.00 target price on shares of Amgen in a research note on Wednesday, November 29th. Bank of America started coverage on Amgen in a research report on Wednesday, October 11th. They set a “neutral” rating and a $290.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft started coverage on Amgen in a research report on Thursday, November 9th. They set a “hold” rating and a $240.00 price target on the stock. Two analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Amgen presently has a consensus rating of “Moderate Buy” and an average price target of $285.71.

Check Out Our Latest Stock Analysis on AMGN

Insider Transactions at Amgen

In other news, SVP Nancy A. Grygiel sold 2,096 shares of Amgen stock in a transaction on Monday, December 4th. The stock was sold at an average price of $273.03, for a total transaction of $572,270.88. Following the transaction, the senior vice president now owns 10,874 shares in the company, valued at approximately $2,968,928.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Jonathan P. Graham sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $272.81, for a total value of $2,728,100.00. Following the sale, the executive vice president now directly owns 28,078 shares in the company, valued at approximately $7,659,959.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Nancy A. Grygiel sold 2,096 shares of the business’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $273.03, for a total transaction of $572,270.88. Following the completion of the sale, the senior vice president now owns 10,874 shares in the company, valued at $2,968,928.22. The disclosure for this sale can be found here. Insiders own 0.46% of the company’s stock.

Amgen Price Performance

Shares of Amgen stock opened at $307.81 on Friday. The business has a 50 day simple moving average of $282.26 and a two-hundred day simple moving average of $265.58. Amgen Inc. has a 12 month low of $211.71 and a 12 month high of $311.05. The stock has a market capitalization of $164.73 billion, a P/E ratio of 21.88, a PEG ratio of 2.72 and a beta of 0.58. The company has a debt-to-equity ratio of 7.71, a current ratio of 2.86 and a quick ratio of 2.56.

Amgen (NASDAQ:AMGN – Get Free Report) last posted its quarterly earnings results on Tuesday, October 31st. The medical research company reported $4.96 EPS for the quarter, beating the consensus estimate of $4.65 by $0.31. The firm had revenue of $6.90 billion during the quarter, compared to analysts’ expectations of $6.92 billion. Amgen had a return on equity of 165.37% and a net margin of 28.20%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the firm earned $4.70 earnings per share. As a group, analysts predict that Amgen Inc. will post 18.64 EPS for the current fiscal year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 7th. Stockholders of record on Friday, February 16th will be issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.92%. The ex-dividend date is Thursday, February 15th. This is a positive change from Amgen’s previous quarterly dividend of $2.13. Amgen’s payout ratio is currently 60.55%.

Amgen Profile

(Free Report)

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.

Further Reading

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