King Wealth Management Group Reduces Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

King Wealth Management Group lessened its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 80.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,188 shares of the medical research company’s stock after selling 4,871 shares during the period. King Wealth Management Group’s holdings in Amgen were worth $310,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Centricity Wealth Management LLC acquired a new position in shares of Amgen in the 4th quarter valued at about $25,000. Legacy Investment Solutions LLC purchased a new position in Amgen during the third quarter valued at approximately $29,000. Synergy Investment Management LLC acquired a new position in Amgen in the fourth quarter valued at approximately $34,000. Atala Financial Inc purchased a new stake in Amgen in the 4th quarter worth approximately $34,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Amgen during the 4th quarter worth approximately $36,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Wolfe Research started coverage on shares of Amgen in a research note on Friday, November 15th. They issued a “peer perform” rating for the company. Piper Sandler Companies reissued an “overweight” rating and set a $310.00 target price on shares of Amgen in a research note on Thursday, January 2nd. Citigroup restated a “neutral” rating on shares of Amgen in a research report on Wednesday, February 5th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Amgen in a report on Wednesday, February 5th. Finally, StockNews.com lowered Amgen from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $314.04.

Amgen Trading Up 0.0 %

AMGN opened at $312.64 on Friday. The business’s 50 day moving average price is $290.77 and its 200 day moving average price is $299.61. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. The stock has a market capitalization of $167.95 billion, a PE ratio of 41.41, a P/E/G ratio of 2.63 and a beta of 0.53. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85.

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

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be given a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s dividend payout ratio is presently 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 value of $483,802.83. Following the sale, the senior vice president now owns 7,210 shares in the company, valued at approximately $2,195,228.70. The trade was a 18.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Murdo Gordon sold 8,771 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $294.79, for a total transaction of $2,585,603.09. Following the sale, the executive vice president now directly owns 44,186 shares in the company, valued at $13,025,590.94. This represents a 16.56 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,341 shares of company stock valued at $20,644,335. Company insiders own 0.69% of the company’s stock.

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.