Allen Wealth Management LLC Sells 69 Shares of Amgen Inc. (NASDAQ:AMGN)

Allen Wealth Management LLC lessened its stake in Amgen Inc. (NASDAQ:AMGN) by 2.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,759 shares of the medical research company’s stock after selling 69 shares during the period. Allen Wealth Management LLC’s holdings in Amgen were worth $719,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in AMGN. Vanguard Group Inc. grew its position in shares of Amgen by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 52,721,795 shares of the medical research company’s stock worth $13,741,409,000 after buying an additional 339,522 shares during the last quarter. State Street Corp boosted its stake in Amgen by 1.2% in the third quarter. State Street Corp now owns 29,317,018 shares of the medical research company’s stock valued at $9,446,236,000 after acquiring an additional 345,537 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Amgen by 25.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company’s stock worth $3,441,909,000 after purchasing an additional 2,672,975 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Amgen by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 12,475,032 shares of the medical research company’s stock worth $3,245,881,000 after purchasing an additional 352,143 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Amgen during the 4th quarter valued at $1,541,991,000. 76.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Piper Sandler Companies restated an “overweight” rating and set a $310.00 target price on shares of Amgen in a research note on Thursday, January 2nd. UBS Group restated a “hold” rating on shares of Amgen in a report on Wednesday, February 12th. StockNews.com raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 29th. Truist Financial dropped their target price on shares of Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Amgen in a report on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $314.04.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,589 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total transaction of $483,802.83. Following the transaction, the senior vice president now owns 7,210 shares in the company, valued at $2,195,228.70. This trade represents a 18.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jonathan P. Graham sold 25,045 shares of the business’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $293.12, for a total transaction of $7,341,190.40. Following the completion of the sale, the executive vice president now directly owns 28,987 shares of the company’s stock, valued at approximately $8,496,669.44. The trade was a 46.35 % decrease in their position. The disclosure for this sale can be found here. Over 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.

Amgen Stock Performance

AMGN opened at $305.70 on Thursday. The firm has a fifty day moving average price of $303.16 and a 200 day moving average price of $297.69. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The stock has a market cap of $164.22 billion, a P/E ratio of 40.49, a P/E/G ratio of 2.63 and a beta of 0.53. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, topping analysts’ consensus estimates of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. Equities research analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a yield of 3.11%. Amgen’s dividend payout ratio is currently 126.09%.

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.